Answered step by step
Verified Expert Solution
Question
1 Approved Answer
I need help preparing this statement Instructions Linsenmeyer Company produces a common machine component for industrial equipment in three departments: molding, grinding, and finishing. The
I need help preparing this statement
Instructions Linsenmeyer Company produces a common machine component for industrial equipment in three departments: molding, grinding, and finishing. The following data are available for September: Grinding Molding Department Finishing Department Department Direct materials $286,400 $30,400 $29,400 Direct labor 27,600 67,200 68,400 Applied overhead 35,000 272,000 57,000 During September, 18,000 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. 2. Calculate the unit cost. (Round the unit cost to two decimal places.) Amount Descriptions 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 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 list of Amount Descriptions for the exact wording of text items within your schedule. Linsenmeyer Company Schedule of Costs For the Month of September 1 Molding Dept. Grinding Dept. Finishing Dept. 2 3 4 5 6 Transferred-in cost: 7 8 9 Unit Cost 2. Calculate the unit cost. Round the unit cost to two decimal places. The unit cost is $ per unitStep 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