Consider the following information from Manufacturing Inc., then see the instructions that ...
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Accounting
Consider the following information from Manufacturing Inc., then see the instructions that
follow.
Manufacturing Inc. manufactures plastic thing-a-majigs. Materials are added at the beginning
of the production process and conversion costs are incurred uniformly. Production and cost
data for the month of June, 2016 are as follows.
Production data
Units
Percent Complete
Work in process units, June 1
2,600
61%
Units started into production
6,285
Work in process units, June 30
3,000
38%
Cost data
Work in process, June 1
Materials
$7,250
Coversion costs
6,050
$13,300
Direct materials
23,600
Direct labor
15,850
Manufacturing overhead
12,750
Instructions:
Prepare a production cost report for the month of June, making sure to show equivalent
units of production for materials and conversion costs, unit costs of production for materials
and conversion costs, and the assignment of costs to units transferred out and in process at
the end of June. I HAVE THE LAYOUT POSTED BUT JUST NEED THE NUMBERS FILLED IN!!!
THIS ASSIGNMENT MUST BE COMPLETED IN EXCEL. You should develop an efficient and
customizable production cost report, using formulas whenever possible instead of keyed in
values. No numeric values except the ones shown above should need to be keyed in. I HAVE THE LAYOUT POsTED UNDERNEATH AND JUST NEED THE NUMBERS FILLED IN!!!!
MANUFACTORING INC.
Production Cost Report
For the Month Ended June 30, 2016
Equivalent Units
Physical Units
Materials
Conversion Costs
Quantities
Units to be accounted for
Work in process, June 1
Started units into production
Total Units
Units accounted for
Transferred out
Work in process, June 30
Toal Units
Costs
Unit Costs
Materials
Conversion Cost
Total
Total cost
Equivalent units
Unit cost [(a) / (b)]
Costs to be accounted for
Work in process, June 1
Started into production
Total costs
Cost Reconciliation Schedule
Costs accounted for
Tranferred out
Work in process, June 30
Materials
Conversion costs
Total costs
Answer & Explanation
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