Question

In: Accounting

Consider the following information from Manufacturing Inc., then see the instructions that follow. Manufacturing Inc. manufactures...

Consider the following information from Manufacturing Inc., then see the instructions that
follow.
Manufacturing Inc. manufactures plastic thing-a-majigs. Materials are added at the beginning
of the production process and conversion costs are incurred uniformly. Production and cost
data for the month of June, 2016 are as follows.
Production data Units Percent Complete
Work in process units, June 1 2,600 61%
Units started into production 6,285
Work in process units, June 30 3,000 38%
Cost data
Work in process, June 1
   Materials $7,250
   Coversion costs 6,050 $13,300
Direct materials 23,600
Direct labor 15,850
Manufacturing overhead 12,750
Instructions:
Prepare a production cost report for the month of June, making sure to show equivalent
units of production for materials and conversion costs, unit costs of production for materials
and conversion costs, and the assignment of costs to units transferred out and in process at
the end of June.
THIS ASSIGNMENT MUST BE COMPLETED IN EXCEL. You should develop an efficient and
customizable production cost report, using formulas whenever possible instead of keyed in
values. No numeric values except the ones shown above should need to be keyed in.

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