Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Don't Cry Over Spilled Milk, Inc., a manufacturer of mops, uses the weighted average method in its processing costing system. Don't Cry uses a traditional
Don't Cry Over Spilled Milk, Inc., a manufacturer of mops, uses the weighted average method in its processing costing system. Don't Cry uses a traditional costing system in the allocation of its manufacturing overhead (MOH) to production; MOH costs are allocated to production on the basis of machine hours logged during the period. Total estimated MOH for the period was $300,000 and total estimated machine hours were 100,000. The following data concern the operations of the company's first processing department, Assembly, for June 2018. Beginning Work in Process Costs in Beginning Work in Process Units Started in June Direct Product Costs Added During June Ending Work in Process 800 mops, 60% complete with respect to direct materials, 10% complete with respect to conversion $3,712 (of this amount, $1,296 is for direct materials) 16,000 mops direct materials $47,076; direct labor $216,213 300 mops, 60% completed with respect to direct materials, 70% complete with respect to conversion (round all calculation to 2 decimal places. all answers should include commas and 2 decimal places i.e. 1,000.00 not 1000.) The cost to assemble one mop in June was $32.90. The cost of goods completed and transferred out of the Assembly department during June equals - The conversion costs included in Work in Process-Assembly at the beginning of July would equal $ production; MOH costs are allocated to production on the basis of machine hours logged during the period. Total estimated MOH for the period was $300,000 and total estimated machine hours were 100,000. The following data concern the operations of the company's first processing department, Assembly, for June 2018. Beginning Work in Process 800 mops, 60% complete with respect to direct materials, 10% complete with respect to conversion Costs in Beginning Work in Process $3,712 (of this amount, $1,296 is for direct materials) Units Started in June 16,000 mops Direct Product Costs Added During June || direct materials $47,076; direct labor $216,213 Ending Work in Process 300 mops, 60% completed with respect to direct materials, 70% complete with respect to conversion During June, 79,765 actual machine hours were logged during production. (round all calculation to 2 decimal places, all answers should include commas and 2 decimal places i.e. 1,000.00 not 1000.) The cost to assemble one mop in June was $ 32.90. The cost of goods completed and transferred out of the Assembly department during June equals : The conversion costs included in Work in Process-Assembly at the beginning of July would equal $
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