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Swinn Company 500

Price: $2.50


Swinn Company manufactures bicycles. Materials are added at the beginning of
the production process, and conversion costs are incurred uniformly. Production and cost
data for the month of May are as follows.


Production Data - Basketballs Units % Complete
Work in process units, May 1  500 80%
Units started into production  2,000
Work in process units, May 31  800 40%
 
Cost Data - Basketballs
Work in process, May 1
  Materials   15,000
  Conversion costs   18,000  33,000
Direct materials   50,000
Direct labor   19,020
Manufacturing overhead   33,680

Instructions
(a) Calculate the following.
(1) The equivalent units of production for materials and conversion.
(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 May for the bicycles.

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