Thakin Industries Inc. manufactures dorm furniture in separate processes. In each process, materials are entered at...

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Accounting

Thakin Industries Inc. manufactures dorm furniture in separateprocesses. In each process, materials are entered at the beginning,and conversion costs are incurred uniformly. Production and costdata for the first process in making a product are as follows.
Cutting Department
Production Data—July
T12-Tables
Work in process units, July 1 0
Units started into production 20,800
Work in process units, July 31 3,120
Work in process percent complete 60
Cost Data—July
Work in process, July 1
$0
Materials
395,200
Labor
243,776
Overhead
108,160
Total
$ 747,136
(a1)
Compute the physical units of production.
T12 Tables
Units to be accounted for
b. For each plant compute equivalent units of production formaterials and for conversion costs.
c). For each plant determine the unit costs of production.(Round unit costs to 2 decimal places, e.g.5.25.)
d). For each plant show the assignment of costs to unitstransferred out and in process.

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4.4 Ratings (774 Votes)

a1 Units to account for Beginning WIP Units started this period 20800 Total Units to account for 20800 Answer Total Units accounted for Completed Transferred out 17680 Ending WIP 3120 Total Units See Answer

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		Cutting Department
Production Data—July		T12-Tables
Work in process units, July 1		0
Units started into production		20,800
Work in process units, July 31		3,120
Work in process percent complete		60

Cost Data—July
Work in process, July 1		$0
Materials		395,200
Labor		243,776
Overhead		108,160
Total		$ 747,136