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(Solved): Sheridan Company manufactures bowling balls through two processes: Molding and Packaging In the Mol ...
Sheridan 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 added 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 2022 are presented below.
Prepare a schedule showing physical units of production.
Determine the equivalent units of production for materials and conversion costs. eTextbook and Media Compute the unit costs of production.
Determine the costs to be assigned to the units completed and transferred out and to work in process for June. Transferred out Work in process, June 30 \( \$ \)
Prepare a production cost report for the Molding Department for the month of June.
Units accounted for Completed and transferred out Work in process, June 30 Total units Costs Conversion Unit costs Costs Total Costs Equivalent units Unit costs
process, June 1 Started into production Total costs Costs accounted for Completed and transferred out Work in process, June 30 Materials Conversion costs Total costs
solution: Schedule showing physical units of production Physical Quantities Units Units to be accounted for WIP, June 1 0 Started into production 25080 Total Units 25080 Units accounted for Transferred Out 22800 WIP, June 30 2280 Total Units 25080 Eq