I See The Light Projected Balance Sheet As of December 31, 20x1 Current Assets Cash Accounts Receivable Inventory Raw Material Lamp Kits Work in Process Finished Goods Total Current Assets Fixed Assets Equipment Accumulated Depreciation Total Fixed Assets Total Assets Current Liabilities Accounts Payable Total Liabilities Stockholder's Equity Common Stock Retained Earnings Total Stockholder's Equity Total Liabilities and Stockholder's Equity $ 34,710.00 67,500,00 [$20","000.00],[6","800.00] [13","200.00],[$quad213","410.00] $ 12,000.00 147,410.00 159,410.00 $quad213,410,00
Need help completing {12.6} through {12.16}
During January, 23,500 units were started, $377,645.00 of materials and $43,578.00 of labor costs were incurred. The 4,000 figurines that were in-process at the end of January were assumed to be 60.00% complete to labor and overhead. All figurines in January passed inspection. General Information The I See The Light 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% of direct labor dollars. The material is added at the beginning of the process. The labor and overhead costs are assumed to be added uniformly throughout. Month of January Selected information for January is presented below. Note that the applied overhead rate was 50% of direct labor costs in the molding department. Molding Department Goods in-process as of January 1 were 3,300 figurines at a cost of $55,473.00. Of this amount, $52,800.00 was from raw materials added, $1,782.00 for labor and $891.00 for overhead. These 3,300 figurines were assumed to be 30.00% complete as to labor and overhead. During January, 23,500 units were started, $377,645.00 of materials and $43,578.00 of labor costs were incurred. MOLDING Physical Flow of Units Work-in-Process - Beginning Units Started this Period Units to Account for Total transferred out Work-in-Process - Ending Total Accounted for General Information The I See The Light 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% of direct labor dollars. The material is added at the beginning of the process. The labor and overhead costs are assumed to be added uniformly throughout. Month of January Selected information for January is presented below. Note that the applied overhead rate was 50% of direct labor costs in the molding department. Molding Department Goods in-process as of January 1 were 3,300 figurines at a cost of $55,473.00. Of this amount, $52,800.00 was from raw materials added, $1,782.00 for labor and $891.00 for overhead. These 3,300 figurines were assumed to be 30.00% complete as to labor and overhead. During January, 23,500 units were started, $377,645.00 of materials and $43,578.00 of labor costs were incurred. x AutoSave CN1253 Courtney Nimmons CN File Home Insert Draw Page Layout Formulas Data Review View Automate Help x Paste [ Clipboard A B \begin{tabular}{l} \hline 25 \\ \hline 26 \\ 27 \\ 28 \\ 29 \\ 30 \\ 31 \\ 32 \\ 33 \\ \hline 34 \\ 35 \\ \hline 36 \\ 37 \\ 38 \\ \hline 39 \\ \hline 40 \\ \hline 41 \\ 42 \\ \hline 43 \\ \hline 44 \\ \hline 45 \\ \hline 46 \\ \hline 47 \\ \hline 49 \\ \hline 50 \\ \hline 51 \\ 52 \\ 53 \\ \hline 54 \\ 55 \\ 56 \\ \hline \end{tabular} D E F G H Add-ins I See The Light Projected Balance Sheet As of December 31, 20x1 Current Assets Cash Accounts Receivable Inventory Raw Material Lamp Kits Work in Process Finished Goods Total Current Assets Fixed Assets Equipment Accumulated Depreciation Total Fixed Assets Total Assets Current Liabilities Accounts Payable Total Liabilities Stockholder's Equity Common Stock Retained Earnings Total Stockholder's Equity Total Liabilities and Stockholder's Equity \$ 34,710.00 67,500.00 500@$16.00 3000@$30.00 $20,000.006,800.00 13,200.00$213,410.00 \$ 12,000.00 147,410.00 90,000.00$200,210.00 8,000.00 \begin{tabular}{rr} 159,410.00 \\ \hline$213,410.00 \\ \hline \hline \end{tabular} Total Cost accounted for (Round to two places, \$\#\#,\#\#.\#\#) \begin{tabular}{|l|l|} \hline \\ \hline \end{tabular} \begin{tabular}{|l|l|l|l|l|l|} \hline & & & & & \\ \hline & & & & & \\ \hline & & & & \\ \hline \multicolumn{2}{|l|}{ Total cost of Material this period (Round to two places, \#\#.\#\#.\#\#) } & \\ \hline \end{tabular} {12.09} \begin{tabular}{|l|l|l|l|l|l|} \hline & & & & & \\ \hline & & & & & \\ \hline Total cost of Conversion this period (Round to two places, \#\#.\#\#..\#\#) & \\ \hline \end{tabular} {12.10} \begin{tabular}{|l|l|l|l|l|l|} \hline & & & & & \\ \hline & & & & & \\ \hline Total cost to account for (Round to two places, \#\#.\#\#!.\#) & & \\ \hline \end{tabular} {12.11} \begin{tabular}{|l|l|l|l|l|l|} \hline & & & & & \\ \hline & & & & & \\ \hline \end{tabular} {12.12} \begin{tabular}{|l|l|l|l|l|l|} \hline & & & & & \\ \hline & & & & & \\ \hline \\ \hline \end{tabular} {12.13} \begin{tabular}{|l|l|l|l|l|l|} \hline & & & & & \\ \hline & & & & & \\ \hline & & & & & \\ \hline \end{tabular} {12.14} Ready ix Accessibility: Investigate 13 | During January, 23,500 units were started, $377,645.00 of materials and $43,578.00 of labor costs were incurred. The 4,000 figurines that were in-process at the end of January were assumed to be 60.00% complete to labor and overhead. All figurines in January passed inspection. General Information The I See The Light 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% of direct labor dollars. The material is added at the beginning of the process. The labor and overhead costs are assumed to be added uniformly throughout. Month of January Selected information for January is presented below. Note that the applied overhead rate was 50% of direct labor costs in the molding department. Molding Department Goods in-process as of January 1 were 3,300 figurines at a cost of $55,473.00. Of this amount, $52,800.00 was from raw materials added, $1,782.00 for labor and $891.00 for overhead. These 3,300 figurines were assumed to be 30.00% complete as to labor and overhead. During January, 23,500 units were started, $377,645.00 of materials and $43,578.00 of labor costs were incurred. MOLDING Physical Flow of Units Work-in-Process - Beginning Units Started this Period Units to Account for Total transferred out Work-in-Process - Ending Total Accounted for General Information The I See The Light 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% of direct labor dollars. The material is added at the beginning of the process. The labor and overhead costs are assumed to be added uniformly throughout. Month of January Selected information for January is presented below. Note that the applied overhead rate was 50% of direct labor costs in the molding department. Molding Department Goods in-process as of January 1 were 3,300 figurines at a cost of $55,473.00. Of this amount, $52,800.00 was from raw materials added, $1,782.00 for labor and $891.00 for overhead. These 3,300 figurines were assumed to be 30.00% complete as to labor and overhead. During January, 23,500 units were started, $377,645.00 of materials and $43,578.00 of labor costs were incurred. x AutoSave CN1253 Courtney Nimmons CN File Home Insert Draw Page Layout Formulas Data Review View Automate Help x Paste [ Clipboard A B \begin{tabular}{l} \hline 25 \\ \hline 26 \\ 27 \\ 28 \\ 29 \\ 30 \\ 31 \\ 32 \\ 33 \\ \hline 34 \\ 35 \\ \hline 36 \\ 37 \\ 38 \\ \hline 39 \\ \hline 40 \\ \hline 41 \\ 42 \\ \hline 43 \\ \hline 44 \\ \hline 45 \\ \hline 46 \\ \hline 47 \\ \hline 49 \\ \hline 50 \\ \hline 51 \\ 52 \\ 53 \\ \hline 54 \\ 55 \\ 56 \\ \hline \end{tabular} D E F G H Add-ins I See The Light Projected Balance Sheet As of December 31, 20x1 Current Assets Cash Accounts Receivable Inventory Raw Material Lamp Kits Work in Process Finished Goods Total Current Assets Fixed Assets Equipment Accumulated Depreciation Total Fixed Assets Total Assets Current Liabilities Accounts Payable Total Liabilities Stockholder's Equity Common Stock Retained Earnings Total Stockholder's Equity Total Liabilities and Stockholder's Equity \$ 34,710.00 67,500.00 500@$16.00 3000@$30.00 $20,000.006,800.00 13,200.00$213,410.00 \$ 12,000.00 147,410.00 90,000.00$200,210.00 8,000.00 \begin{tabular}{rr} 159,410.00 \\ \hline$213,410.00 \\ \hline \hline \end{tabular} Total Cost accounted for (Round to two places, \$\#\#,\#\#.\#\#) \begin{tabular}{|l|l|} \hline \\ \hline \end{tabular} \begin{tabular}{|l|l|l|l|l|l|} \hline & & & & & \\ \hline & & & & & \\ \hline & & & & \\ \hline \multicolumn{2}{|l|}{ Total cost of Material this period (Round to two places, \#\#.\#\#.\#\#) } & \\ \hline \end{tabular} {12.09} \begin{tabular}{|l|l|l|l|l|l|} \hline & & & & & \\ \hline & & & & & \\ \hline Total cost of Conversion this period (Round to two places, \#\#.\#\#..\#\#) & \\ \hline \end{tabular} {12.10} \begin{tabular}{|l|l|l|l|l|l|} \hline & & & & & \\ \hline & & & & & \\ \hline Total cost to account for (Round to two places, \#\#.\#\#!.\#) & & \\ \hline \end{tabular} {12.11} \begin{tabular}{|l|l|l|l|l|l|} \hline & & & & & \\ \hline & & & & & \\ \hline \end{tabular} {12.12} \begin{tabular}{|l|l|l|l|l|l|} \hline & & & & & \\ \hline & & & & & \\ \hline \\ \hline \end{tabular} {12.13} \begin{tabular}{|l|l|l|l|l|l|} \hline & & & & & \\ \hline & & & & & \\ \hline & & & & & \\ \hline \end{tabular} {12.14} Ready ix Accessibility: Investigate 13 |
