Maurice Tutor

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Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 17 Aug 2017 My Price 11.00

Morse Company

P3-5A Morse 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 2014 are as follows.

Percent

 

Production  Data—Basketballs

 

Units

 

Complete

Work in process units, July 1

 

500

 

60%

Units started into production

 

1,250

 

 

Work in process units, July 31

 

600

 

40%

Cost Data—Basketballs

 

 

 

 

Work in process, July 1 Materials                                               $750

Conversion costs                  600

 

 

 

$1,350

 

 

Direct materials

 

2,400

 

 

Direct labor

 

1,580

 

 

Manufacturing overhead

 

1,295

 

 

Instructions

(a)  Calculate the following.

(1)  The equivalent units of production for materials and conversion costs.

(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 accounting period.

(b)  Prepare a production cost report for the month of July for the basketballs.

Answers

Maurice Tutor
(5)
Status NEW Posted 17 Aug 2017 04:08 PM My Price 11.00

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