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Need help solving part 4 and 5 of I see the Light Cybertext PART 4: PART 5 Thank you! General Information The I See The
Need help solving part 4 and 5 of "I see the Light" Cybertext
PART 4:
PART 5
Thank you!
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 3,000 figurines at a cost of $50,250.00. Of this amount, $48,000.00 was from raw materials added, $1,500.00 for labor and $750.00 for overhead. These 3,000 figurines were assumed to be 25.00% complete as to labor and overhead. During January, 25,500 units were started, $412,845.00 of materials and $47,800.00 of labor costs were incurred. The 5,500 figurines that were in-process at the end of January were assumed to be 30.00% complete to labor and overhead. All figurines in January passed inspection. MOLDING Physical Flow of Units Work-in-Process - Beginning Units Started this Period {12.01} Units to Account for {12.02} Total transferred out {12.03} Work-in-Process - Ending {12.04} {12.05} Total Accounted for {12.06} {12.07} {12.08} \begin{tabular}{|l|l|l|l|l|l|} \hline & & & & & \\ \hline & & & & & \\ \hline & & & & & \\ \hline & & & & & \\ \hline & & & & & \\ \hline 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 & & & & \\ \hline \multicolumn{2}{|l|}{ Total cost of Conversion this period (Round to two places, \#\#.\#\#.\#\#) } \\ \hline \end{tabular} {12.10} 12.14} - keep records of the actual cost of a special order job, a Job Order Cost System has been developed. Dverhead is applied at the rate of 50% of the direct labor cost. Iob Order Costing Section On January 1, 20x2, Division S began Job 2407 for the Client, THE BIG CHILDREN STORE. The ob called for 4,000 customized lamps. The following set of transactions occurred from lanuary 5 until the job was completed: 5-Jan Purchased 4,075 Lamp Kits @ \$16.60 per kit. 9-Jan 4,100 sets of Lamp Kits were requisitioned, including all those in the Beginning Inventory. 17.Jan Payroll of 620 Direct Labor Hours @ $9.70 per hour. 30-Jan Payroll of 670 Direct Labor Hours @ $9.95 per hour. 30-Jan 3,990 lamps were completed and shipped. All materials requisitioned were used or scrapped, and are a cost of normal processing. Round to two places, $### Cost of Direct Material Incurred in Manufacturina Job 2407 Round to two places, $## Cost of Mirert Material Inrurred in Manfartrina . Inh 2407 {13.01} Cost of Mirert I ahnr Inrred in Man Ifartrinn . Inh 207 {13.02} Cost of Manufarturinn Marhaad nnliad tn lnh2A7 {13.03}
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