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P16-2A Complete four steps necessary to prepare a production cost report, (LO 5,6,7), AP Rosenthal Company manufactures bowling balls through two processes: Molding and Packaging. In the Molding Department, the urethane, rubber, plastics, and other materials are molded into bowling balls. In the Packaging Department, the balls are placed in cartons and sent to the finished goods warehouse. All materials are entered at the beginning of each process. Labor and manufacturing overhead are incurred uniformly throughout each process. Production and cost data for the Molding Department during June 2014 are presented below Production Data eginning work in process units Units started into production Ending work in process units Percent complete-ending inventory une 0- 22,000 2,000 40% Cost Data Materials Labor Overhead $198,000 53,600 112,800 S364,400 Total Instructions (a) Prepare a schedule showing physical units of production. (b) Determine the equivalent units of production for materials and conversion costs (c) Compute the unit costs of production. Materials $9.00 $8.00 (d) Determine the costs to be assigned to the units transferred out and in process for June. Transferred out $340,000 WIP S 24,400 (c) Prepare a production cost report for the Molding Department for the month of June

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