Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Jalludly 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
Jalludly 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 {12.01} {12.02) Equivalent Units Material (Round to two places, ######.##) {12.03} Equivalent Units Conversion (Round to two places, ##.##**##.##) {12.04} Total cost of Material (Round to two places, ##.###.###) {12.05) Total cost of Conversion (Round to two places, ####.##.####) Total cost to account for (Round to two places, ##.###.##) {12.06) {12.07 Cost per equivalent unit of Material (Round to two places, ###.###) {12.08) Cost per equivalent unit of Conversion (Round to two places, #1##.##) {12.09} Cost of the ending inventory, material and convesion (Round to two places, $#**,####.###) {12.10 Cost of the units transferred, material and convesion (Round to two places, S ,###.##) {12.11} 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 2,800 figurines at a cost of $24,404.00. Of this amount, $4,424.00 was from raw materials added, $13,320.00 for labor and $6,660.00 for overhead. These 2,800 figurines were assumed to be 30.00% complete as to labor and overhead. During January, 24,000 units were started, $37,920.00 of materials and $52,280.00 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 labor and overhead. All figurines in January passed inspection. Jalludly 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 {12.01} {12.02) Equivalent Units Material (Round to two places, ######.##) {12.03} Equivalent Units Conversion (Round to two places, ##.##**##.##) {12.04} Total cost of Material (Round to two places, ##.###.###) {12.05) Total cost of Conversion (Round to two places, ####.##.####) Total cost to account for (Round to two places, ##.###.##) {12.06) {12.07 Cost per equivalent unit of Material (Round to two places, ###.###) {12.08) Cost per equivalent unit of Conversion (Round to two places, #1##.##) {12.09} Cost of the ending inventory, material and convesion (Round to two places, $#**,####.###) {12.10 Cost of the units transferred, material and convesion (Round to two places, S ,###.##) {12.11} 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 2,800 figurines at a cost of $24,404.00. Of this amount, $4,424.00 was from raw materials added, $13,320.00 for labor and $6,660.00 for overhead. These 2,800 figurines were assumed to be 30.00% complete as to labor and overhead. During January, 24,000 units were started, $37,920.00 of materials and $52,280.00 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 labor and overhead. All figurines in January passed inspection
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