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Seagren Industries 19000

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Seagren Industries Inc. manufactures in separate processes furniture 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.

Production Data - July   T12 Tables C10 Chairs
Work in process units, July 1   -    -  
Units started into production   19,000  16,000
Work in process units, July 31   3,000  500
Work in process percent complete   60  80
Cost Data - July
Work in process, July 1   -    -  
Materials   380,000  288,000
Labor   234,400  110,000
Overhead   104,000  96,700
Total   718,400  494,700

(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 1 for July 2014.

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