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Borman Corporation manufactures in separate processes refrigerators and freezers for homes. 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.
Stamping Department
Plant A
Plant B
Production Data-June
R12 Refrigerators
F24 Freezers
Work in process units, June 1
-0-
Units started into production
20,000
Work in process units, June 30
4,000
2,500
Work in process percent complete
75
60
Cost Data-June
Work in process, June 1
$ -0-
Materials
840,000
720,000
Labor
245,000
259,000
Overhead
420,000
292,000
Total
$1,505,000
$1,271,000
Instructions
(a) For each plant:
(1) Compute the physical units of production.
(2) Compute equivalent units of production for materials and for conversion costs.
(3) Determine the unit costs of production.
(4) Show the assignment of costs to units transferred out and in process.
(b) Prepare the production cost report for Plant A for June 2012.
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