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Can you please help me with 17.07 and 17.09-17.15 General Information The I See The Light Company has a related company that produces the figurines.
Can you please help me with 17.07 and 17.09-17.15
General Information The I See The Light Company has a related company that produces the figurines. They use process costing in the molding department. The factory overhead is applied at a rate of 50% of direct labor dollars. The material is added at the beginning of the process. The labor and overhead costs are assumed to be added uniformly throughout. The industrial engineers have studied our system and have determined that the acceptable loss for every hundred units that pass the inspection point is 5 units. Month of January Selected information for January is presented below. Note that the applied overhead rate was 50% of direct labor costs in the molding department. Molding Department Goods in-process as of January 1 were 3,300 figurines at a cost of $5,527.50. Of this amount, $1,518.00 was from raw materials added, $2,673.00 for labor and $1,336.50 for overhead. These 3,300 figurines were assumed to be 30.00% complete as to labor and overhead. During January 24,000 units were started, $11,520.00 of materials and $66,717.00 of labor costs were incurred. The 4,000 figurines that were in-process at the end of January were assumed to be 60.00% complete to labor and overhead. While normal spoilage is 5% of the good units completed, 2,563 units failed inspection in January. The units are inspected at the end of the process. Physical Flow of Units January Work-in-Process - Beginning Units Started this Period Units to Account for 3300 24000 27300 Total transferred out Normal spoilage (Roundup to the next unit if needed) Abnormal spoilage Work-in-process - Ending Total Accounted for 20,737 units 17.01 1,037 units 117.02) 1,526 units 17.03 4,000 units 17.04 27,300 units 17.05) Equivalent Units Material (Round to three places, ##.###.###) 27,300.000 117.06) Equivalent Units Conversion (Round to three places, ##.###.###) 117.07) 1518 11520 Total cost of Material (Round to two places, ##.###.##) $ 13,038.00 117.08 Total cost of Conversion (Round to two places, ##.###.##) Total cost to account for (Round to two places, ##.###.##) 117.09 117.10) Cost per equivalent unit of Material (Round to seven places, ###.#######] 117.11 Cost per equivalent unit of Material (Round to seven places, ###.#######) 117.11: Cost per equivalent unit of Conversion (Round to seven places, ###.#######) 117.12) Cost of the ending inventory, material and convesion (Round to two places, $###.###.## 17.13) Cost of the units transferred, material and convesion (Round to two places. $###.###.##) 117.14) Cost of the abnormal spoilage (Round to two places. $###.###.##] 117.15)Step by Step Solution
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