Problem 16-3A (Part Level Submission) Cutting Department Production Data—July Pl
ID: 2611813 • Letter: P
Question
Problem 16-3A (Part Level Submission)
Cutting Department
Production Data—July
Plant 1
T12-Tables
Plant 2
C10-Chairs
Cost Data—July
(a1)
T12 Tables
C10 Chairs
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(a2)
Materials
Conversion Costs
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(a3)
Materials
Conversion Costs
Total Costs
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(a4)
T12 Tables
Costs accounted for:
Transferred out
Work in process
Materials
Conversion costs
Total costs
C10 Chairs
Costs accounted for:
Transferred out
Work in process
Materials
Conversion costs
Total costs
Open Show Work
SHOW SOLUTION
SHOW ANSWER
LINK TO TEXT
(b)
THAKIN INDUSTRIES INC.
Cutting Department—Plant 1
Production Cost Report
For the Month Ended July 31, 2017
Equivalent Units
Quantities
Physical
Units
Materials
Conversion
Costs
Costs
Materials
Conversion
Costs
Total
Cost Reconciliation Schedule
Open Show Work
Problem 16-3A (Part Level Submission)
Thakin Industries Inc. manufactures dorm furniture in separate processes. In each process, materials are entered at the beginning, and conversion costs are incurred uniformly. Production and cost data for the first process in making two products in two different manufacturing plants are as follows.Cutting Department
Production Data—July
Plant 1
T12-Tables
Plant 2
C10-Chairs
Cost Data—July
Work in process, July 1 $0 $0 Materials 459,800 348,480 Labor 283,624 133,100 Overhead 125,840 126,808 Total $869,264 $608,388(a1)
Your answer is correct. For each plant compute the physical units of production.T12 Tables
C10 Chairs
Units to be accounted for Click if you would like to Show Work for this question:Open Show Work
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Attempts: 1 of 3 used(a2)
Your answer is correct. For each plant compute equivalent units of production for materials and for conversion costs.Materials
Conversion Costs
T12 Tables C10 Chairs Click if you would like to Show Work for this question:Open Show Work
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SHOW ANSWER
LINK TO TEXT
Attempts: 1 of 3 used(a3)
Your answer is correct. For each plant determine the unit costs of production. (Round unit costs to 2 decimal places, e.g. 5.25.)Materials
Conversion Costs
Total Costs
Unit costs-T12 Tables $ $ $ Unit costs-C10 Chairs $ $ $ Click if you would like to Show Work for this question:Open Show Work
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Attempts: 2 of 3 used(a4)
Your answer is partially correct. Try again. For each plant show the assignment of costs to units transferred out and in process.T12 Tables
Costs accounted for:
Transferred out
$Work in process
Materials
$Conversion costs
Total costs
$C10 Chairs
Costs accounted for:
Transferred out
$Work in process
Materials
$Conversion costs
Total costs
$ Click if you would like to Show Work for this question:Open Show Work
SHOW SOLUTION
SHOW ANSWER
LINK TO TEXT
Attempts: 3 of 3 used(b)
Prepare the production cost report for Plant 1 for July 2017.THAKIN INDUSTRIES INC.
Cutting Department—Plant 1
Production Cost Report
For the Month Ended July 31, 2017
Equivalent Units
Quantities
Physical
Units
Materials
Conversion
Costs
Costs
Materials
Conversion
Costs
Total
Cost Reconciliation Schedule
Costs accounted for Transferred out $ Work in process, July 31 Materials $ Conversion costs Total costs $ Click if you would like to Show Work for this question:Open Show Work
Explanation / Answer
A1. Units of production of tables by plant1=
24200-3630=20570 units
Units of production of chairs by plant 2=
19360-605=18755 units
A2)
Conversion cost= Direct Labour+Overheads
A3=Unit cost
31.4
A4)
Cost Transfer out table T12
Cost Material cost conversion cost Table 459,800 409,464 Chair 348,000 259,908