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How would I do this process costing PART 6 Process Costing-Weighted Average General Information The Betty's Design Company has a related company that produces the
How would I do this process costing
PART 6 Process Costing-Weighted Average General Information The Betty's Design 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 The material, labor, and overhead costs are added uniformly throughout the process. % of direct labor dollars. Month of January Selected information for January is presented below Note that the applied overheadratewas 50% of direct labor costs in the molding department. Molding Department Goods in-process as of January 1 was 2,900 figurines at a cost of $54.490.25. Of this amount, $334.00 was from raw materials added, $35,437.50 for labor and $ 17,71 8.75 for overhead. These 2,900 figurines were assumed to be 70.00% complete as to material labor, and overhcad. During January, 22,500 units were started, $11,250.00 of materials and S9,003.75 of labor costs were incurred. The 4,000 figurines that were in-process at the end of January were assumed to be 20.00% complete to material, labor, and overhead. All figurines in January passed inspection. Page 11 of 16Step by Step Solution
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