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I need some help completing this process costing sheet. Thank you! Projected Income Statement Current Assets Cash Accounts Receivable $34,710.0067,500.00 Inventory Raw Material Lamp Kits
I need some help completing this process costing sheet. Thank you!
Projected Income Statement Current Assets Cash Accounts Receivable $34,710.0067,500.00 Inventory Raw Material Lamp Kits @ $16.00 @) $30.00 Total Current Assets Fixed Assets Equipment Accumulated Depreciation Total Fixed Assets Total Assets \begin{tabular}{rr} $20,000.00 & \\ 6,800.00 & \\ 13,200.00 \\ & $213,410.00 \\ \hline \hline \end{tabular} Current Liabilities Accounts Payable Total Liabilities $$54,000.0054,000.00 Stockholder's Equity Common Stock Retained Earnings $12,000.00147,410.00 Total Stockholder's Equity Total Liabilities and Stockholder's Equity 159,410.00$213.410.00 Goods in-process as of January 1 were 2,800 figurines at a cost of $49,840.00. Of this amount, $44,800.00 was from aw materials added, $3,360.00 for labor and $1,680.00 for overhead. These 2,800 figurines were assumed to be 50.00% complete as to labor and overhead. During January, 24,500 units were started, $394,205.00 of materials and $38,640.00 of labor costs were incurred. The 7,000 figurines that were in-process at the end of January were assumed to be 10.00% complete to abor and overhead. All figurines in January passed inspection. 2.06} 12.07} {12.08} {12.09} {12.10} {12.11} {12.13}Step by Step Solution
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