Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Need help with solving total cost to account for (12.16)- through total cost accounted for (12.16) answers with steps for each part General Information The

Need help with solving total cost to account for (12.16)- through total cost accounted for (12.16) answers with steps for each part image text in transcribed
image text in transcribed
General Information The f see The Light Company has a related company that produces the fourines. They use process costing in the molding department. The factory overbead is applied at a rate of sow of drect laber dollars. The material is added at the beginning of the process. The labor and overhead costs are assumed to be added unformly throughout Month of January Selected information for January is presented bolow. Note that the appled 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 $48,560.00. Of this amount, $44,800.00 was fro raw materials added, $2,520.00 for labor and $1,260,00 for overhead. These 2,800 figurines were assumed to be 50.00% complete as to labor and overhead. During January, 22,000 units were started, $353,540,00 of materials and 534,020.00 of labor costs were incurred. The 5,000 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. Mano Phisiea Fowat ins Workin-Process-Begining Uns Somed Elis Poripd unts 5 Account for Total tranderred out Workin Procerse- Endry Tobal Acesurted for \begin{tabular}{|l|l|l|l|l|l|} \hline & & & & & \\ \hline & & & & & \\ \hline & & & & & \\ \hline & & & & & 371.45000 \\ \hline & & & & & \\ \hline & & & & & \\ \hline \end{tabular}

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditing and Assurance Services A Systematic Approach

Authors: William Messier, Steven Glover, Douglas Prawitt

9th edition

1308361491, 77862333, 978-1259248290, 9780077862336, 1259162346, 978-1259162343

More Books

Students also viewed these Accounting questions