Fong Company manufactures basketballs. Materials are added at the - 10414

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AP21-5A


 

Fong Company manufactures basketballs. Materials are added at the beginning of the production process and conversion costs are incurred uniformly. Production and cost data for the month of July 2012 are as follows.

 

 

Production Data-Basketballs

Units

 

Percent
Complete

 

Work in process units, July 1

 440

 

50%

 

Units started into production

1,410

 

 

 

Work in process units, July 31

 660

 

30%

 

 

 

 

 

 

Cost Data - Basketballs

 

 

 

 

Work in process, July 1

 

 

 

 

     Materials

$768

 

 

 

 

    Conversion costs

409

$1,177

 

 

 

Direct materials

3,672

 

 

 

Direct labor

1,434

 

 

 

Manufacturing overhead

3,709

 

 


Your answer is correct.

 

 

             

 

Calculate the following. (Round cost per unit to 2 decimal places, e.g. 10.50.  Round other answers to 0 decimal places, e.g. 125.)

 

  1. The equivalent units of production for materials and conversion.
  2. The unit costs of production for materials and conversion costs.
  3. The assignment of costs to units transferred out and in process at the end of the period.

 

 

 

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