Reference no: EM133901993
Problem
Delray Industries manufactures plastic wading pools as part of a continuous process through two departments: Molding and Finishing. Direct materials and conversion are added throughout the month in both departments, but at different rates. The information presented as follows was compiled at the end of June:
Row 1 contains headers for columns 2 and 3. Row 2 is a header and contains no data in columns 2 and 3. Row 4 is a subheader and contains no data in columns 2 and 3. Row 5 contains no data in column 2. Row 8 is a header and contains no data in columns 2 and 3. Row 11 is a subheader and contains no data in columns 2 and 3. Row 12 contains no data in column 2. Row 15 is a header and contains no data in columns 2 and 3.
Molding
Department Finishing
Department
Beginning Inventories (on June 1):
Physical units in production carried forward from May 31 3,000 5,000
Costs:
Transferred Molding costs carried forward from May 31 $150,000
Direct materials costs carried forward from May 31 $37,800 4,000
Conversion costs carried forward from May 31 14,400 24,000
Current Production (in June):
Units started during June 50,000 ?
Units in ending inventories as of June 30 1,000 2,000
Costs:
Molding costs transferred to Finishing during June ?
Direct materials costs incurred in June $912,600 $222,000
Conversion costs incurred in June 612,000 430,400
Percentage of Completion:
Inventories with respect to direct materials on June 1 70% 20%
Inventories with respect to conversion on June 1 40 60
Inventories with respect to direct materials on June 30 80% 75%
Inventories with respect to conversion on June 30 20 90
Task
Complete the following requirements for the Molding Department:
Prepare a schedule showing units started and completed in the Molding Department during June. Get the instant assignment help.
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