70.2K

Verified Solution

Link Copied!

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 a product are as follows. Production Data-July Work in process units, July 1 Units started into production Work in process units, July 31 Work in process percent complete Cutting Department T12-Tables o 21,800 3.270 60 Cost Data -- July Work in process, July 1 Materials Labor Overhead Total $0 414,200 255,496 113,360 $783,056 Compute the physical units of production T12 Tables Units to be accounted for eTextbook and Media Attempts: 0 of 3 used Submit Amwer Save for Later Using multiple attempts will impact your score 10% score reduction after attempt 2 (a2) Compute equivalent units of production for materials and for conversion costs. Materials Conversion Costs T12 Tables Determine the unit costs of production Materials Unit costs-T12 Tables Conversion Costs $ Total Costs $ $ e Textbook and Media Save forster Using multiple attempts will impact your score 10% score reduction after attempt 2 Attempts: 0 of 3 used Submit Answer (24) Show the assignment of costs to units transferred out and in procesu T12 Tables Costs accounted for: Transferred out Work in process Materials Conversion costs Total costs Equivalent Units Physical Units Conversion Costs Materials Quantities Units to be accounted for Workin process, July 1 Started into production Total units Units accounted for Transferred out Work in process. July 31 Total units Conversion Costs Materials Costs Unit costs Total Costs $ $ Equivalent Conversion Costs Materials Total $ Question 9 of 10 $

Answer & Explanation Solved by verified expert

See Answer