Question

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 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 22,400 17,920 Work in process units, July 31 3,360 560 Work in process percent complete 60 80 Cost Data—July Work in process, July 1 $0 $0 Materials 425,600 322,560 Labor 262,528 123,200 Overhead 116,480 117,376 Total $804,608 $563,136 Collapse question part (a1) Correct answer. Your answer is correct. For each plant compute the physical units of production. T12 Tables C10 Chairs Units to be accounted for Entry field with correct answer 22400 Entry field with correct answer 17920 Click if you would like to Show Work for this question: Open Show Work SHOW SOLUTION SHOW ANSWER LINK TO TEXT Attempts: 1 of 3 used Collapse question part (a2) Partially correct answer. Your answer is partially correct. Try again. For each plant compute equivalent units of production for materials and for conversion costs. Materials Conversion Costs T12 Tables Entry field with correct answer 22400 Entry field with incorrect answer 19040 C10 Chairs Entry field with correct answer 17920 Entry field with incorrect answer 17360 Click if you would like to Show Work for this question: Open Show Work SHOW SOLUTION SHOW ANSWER LINK TO TEXT Attempts: 3 of 3 used Collapse question part (a3) Correct answer. Your answer is correct. For each plant determine the unit costs of production. (Round unit costs to 2 decimal places, e.g. 5.25.) Materials Conversion Costs Total Costs Unit costs-T12 Tables $Entry field with correct answer 19 $Entry field with correct answer 18 $Entry field with correct answer 37 Unit costs-C10 Chairs $Entry field with correct answer 18 $Entry field with correct answer 13.51 $Entry field with correct answer 31.51 Click if you would like to Show Work for this question: Open Show Work SHOW SOLUTION SHOW ANSWER LINK TO TEXT Attempts: 3 of 3 used Collapse question part (a4) Partially correct answer. Your answer is partially correct. Try again. For each plant show the assignment of costs to units transferred out and in process. T12 Tables Costs accounted for: Transferred out $Entry field with correct answer 704480 Work in process Materials $Entry field with correct answer 63840 Conversion costs Entry field with correct answer 36288 Entry field with correct answer 100128 Total costs $Entry field with correct answer 804608 C10 Chairs Costs accounted for: Transferred out $Entry field with incorrect answer 527310 Work in process Materials $Entry field with incorrect answer now contains modified data 9720 Conversion costs Entry field with correct answer 6052 Entry field with incorrect answer 15552 Total costs $Entry field with incorrect answer 542862

Answer 1