Question
Davis Company produces a common machine component for industrial equipment in three departments: molding, grinding, and finishing. The following data are available for November: molding
Davis Company produces a common machine component for industrial equipment in three departments: molding, grinding, and finishing. The following data are available for November:
molding Grinding finishing respectively
Direct materials | $143,300 | $15,700 | $10,200 |
Direct labor | 13,600 | 34,200 | 22,800 |
Applied overhead | 17,000 | 135,900 | 19,400 |
During November, 8,800 components were completed. There is no beginning or ending WIP in any department.
Required:
1. Prepare a schedule showing, for each department, the cost of direct materials, direct labor, applied overhead, product transferred in from a prior department, and total manufacturing cost. Refer to the key below.
2. Calculate the unit cost. (Round the unit cost to two decimal places.)
Refer to the list below for the exact wording of an amount description within your schedule.
Amount Descriptions | |
Applied overhead | |
Costs added | |
Direct labor | |
Direct materials | |
From Finishing | |
From Grinding | |
From Molding | |
Total manufacturing cost | |
Work in process |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started