osenthal 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 2020 are presented below. Production Data June Beginning work in process units 0 Units started into production 22,000 Ending work in process units 2,000 Percent complete—ending inventory 40 % Cost Data Materials $ 198,000 Labor 53,600 Overhead 112,800 Total $ 364,400 (a) Prepare a schedule showing physical units of production. Physical units Units to be accounted for Work in process, June 1 enter a number of units Started into production enter a number of units Total units enter a total of the two previous amounts Units accounted for Transferred out enter a number of units Work in process, June 30 enter a number of units Total units enter a total of the two previous amounts

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

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 2020 are presented below.

Production Data	June
Beginning work in process units	0
Units started into production	22,000
Ending work in process units	2,000
Percent complete—ending inventory	40	%

Cost Data
Materials		$ 198,000
Labor		53,600
Overhead		112,800
Total		$ 364,400

(a)

Prepare a schedule showing physical units of production.

Physical units
Units to be accounted for
Work in process, June 1		enter a number of units
Started into production		enter a number of units
Total units		enter a total of the two previous amounts

Units accounted for
Transferred out		enter a number of units
Work in process, June 30		enter a number of units
Total units		enter a total of the two previous amounts