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Problem 16-3A - Seagren Industries Inc. manufactures in separate processes furniture for homes

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Question;Problem 16-3A;Seagren Industries Inc. manufactures in separate processes;furniture for homes. 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 two products in two different manufacturing plants are;as follows.;Cutting;Department;Production Data?July Plant;1;T12-Tables Plant;2;C10-Chairs;Work in process units, July 1 0 0;Units started into production 26,220 22,080;Work in process units, July 31 4,140 690;Work in process percent complete 60 80;Cost Data?July;Work in process, July 1 $0 $0;Materials 524,400 397,440;Labor 323,196 151,800;Overhead 143,520 133,446;Total $991,116 $682,686;Don't show me this;message again for the assignment;For each plant;(1) Compute the physical units of production.;T12;Tables C10;Chairs;Units to be accounted for;(2) Compute equivalent units of production for materials and;for conversion costs.;Materials Conversion Costs;T12 Tables;C10 Chairs;(3) Determine the unit costs of production. (Round unit;costs to 0 decimal places, e.g. 25.);Materials Conversion Costs Total Costs;Unit costs-T12 Tables $;$;$;Unit costs-C10 Chairs $;$;$;(4) Show the assignment of costs to units transferred out;and in process.;T12 Tables;Costs accounted for;Transferred out $;Work in process;Materials $;Conversion costs;Total costs $;C10 Chairs;Costs accounted for;Transferred out $;Work in process;Materials $;Conversion costs;Total costs $;Prepare the production cost;report for Plant 1 for July 2014.;SEAGREN INDUSTRIES INC.;Cutting Department?Plant 1;Production Cost Report;For the Month Ended July 31, 2014;Equivalent;Units;Quantities Physical;Units;Materials Conversion;Costs;Units to be accounted for;Work in process;July 1;Started into;production;Total units;Units accounted for;Transferred out;Work in process;July 31;Total units;Costs;Materials Conversion;Costs;Total;Unit costs;Total Costs $;$;$;Equivalent units;Unit costs $;$;$;Costs to be accounted for;Work in process;July 1 $;Started into;production;Total costs $;Cost Reconciliation Schedule;Costs accounted for;Transferred out $;Work in process;July 31;Materials $;Conversion costs;Total costs $;Don't show me this;message again for the assignment

 

Paper#42838 | Written in 18-Jul-2015

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