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. PLEASE HELP ASAP!!!! only the yellow highlighted boxes need to be answered. I See The Light Projected Income Statement For the Period Ending December
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PLEASE HELP ASAP!!!!
I See The Light Projected Income Statement For the Period Ending December 31, 20x1 General Information The ISee The Light Company has a related company that produces the figurines. They use process costing in the moiding department. The faclory overhead is appled 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 unformiy throughout During January, 24,000 units were started, $388,560.00 of materials and $44,380.00 of labor costs were incurred The 4,500 figurines that were inprocess at the end of January were assumed to be 10.00% complete to labor and overhead Al figurines in January passed inspection January {1201 (1202 [12.03 [1204 (1205) (1206) (1207) Equivalent Units Conversion (Round to three places, ##############) (1207) \begin{tabular}{|l|l|l|l|} \hline & & & \\ \hline & & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline Total cost in the Beginning Inventory (Round to two places, ###,,###..####) \end{tabular} \begin{tabular}{|l|l|l|l|l|} \hline & & & \\ \hline \end{tabular} To keep records of the actual cost of a special order job, a Job Order Cost System has been developed. Overhead is applied at the rate of 50% of the direct labor cost. Job Order Costing Soction On January 1, 20x2, Division S began Job 2407 for the Client, THE BIG CHILDREN STORE. The iob callod for 4,000 customized lamps. The following set of transactions occurred from January 5 until the job was completed. 5-Jan Purchased 4,050 Lamp Kits (1) $16.55 per kit 9.Jan 4,075 sots of Lamp Kits were requisitioned, including all those in the Beginning Inventory. 17-Jan Payroll of 620 Direct Labor Hours @ $9.65 per hour. 30-Jan Payroll of 670 Direct Labor Hours @ $990 per hour. 30-Jan 3,990 lamps wore completed and shipped. Al materials requistioned were used or scrapped, and are a cost of normal processing. Round to two places, Cost of I Cost of I {13.01} (13.02) Cost of ! Cost of I (13.03) (1304) I See The Light Projected Income Statement For the Period Ending December 31, 20x1 General Information The ISee The Light Company has a related company that produces the figurines. They use process costing in the moiding department. The faclory overhead is appled 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 unformiy throughout During January, 24,000 units were started, $388,560.00 of materials and $44,380.00 of labor costs were incurred The 4,500 figurines that were inprocess at the end of January were assumed to be 10.00% complete to labor and overhead Al figurines in January passed inspection January {1201 (1202 [12.03 [1204 (1205) (1206) (1207) Equivalent Units Conversion (Round to three places, ##############) (1207) \begin{tabular}{|l|l|l|l|} \hline & & & \\ \hline & & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline Total cost in the Beginning Inventory (Round to two places, ###,,###..####) \end{tabular} \begin{tabular}{|l|l|l|l|l|} \hline & & & \\ \hline \end{tabular} To keep records of the actual cost of a special order job, a Job Order Cost System has been developed. Overhead is applied at the rate of 50% of the direct labor cost. Job Order Costing Soction On January 1, 20x2, Division S began Job 2407 for the Client, THE BIG CHILDREN STORE. The iob callod for 4,000 customized lamps. The following set of transactions occurred from January 5 until the job was completed. 5-Jan Purchased 4,050 Lamp Kits (1) $16.55 per kit 9.Jan 4,075 sots of Lamp Kits were requisitioned, including all those in the Beginning Inventory. 17-Jan Payroll of 620 Direct Labor Hours @ $9.65 per hour. 30-Jan Payroll of 670 Direct Labor Hours @ $990 per hour. 30-Jan 3,990 lamps wore completed and shipped. Al materials requistioned were used or scrapped, and are a cost of normal processing. Round to two places, Cost of I Cost of I {13.01} (13.02) Cost of ! Cost of I (13.03) (1304) only the yellow highlighted boxes need to be answered.
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