Business, 08.04.2021 19:10 kdcloyd3362

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: Production DataâJuly Plant 1 T12-Tables Plant 2 C10-Chairs

Work in process units, July 1 0 0
Units started into production 24,400 19,520
Work in process units, July 31 3,660 610
Work in process percent complete 60 80

Cost DataâJuly
Work in process, July 1 $0 $0
Materials 463,600 351,360
Labor 285,968 134,200
Overhead 126,880 127,856
Total $876,448 $613,416

Required:
a. For each plant compute the physical units of production.
b. For each plant compute equivalent units of production for materials and for conversion costs.
c. For each plant determine the unit costs of production. (Round unit costs to 2 decimal places, e. g. 5.25.)
d. For each plant show the assignment of costs to units transferred out and in process.

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Thakin Industries Inc. manufactures dorm furniture in separate processes. In each process, materials...

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