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Please help me solve number 15.10. Thank you. B E F F G H K 5 6 9 6 Process Costing - First-In First-Out 8

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Please help me solve number 15.10. Thank you.

B E F F G H K 5 6 9 6 Process Costing - First-In First-Out 8 Mr. Jones, a consultant, has indicated that FIFO process costing would produce more meaningful cost data. 9 10 General Information 11 12 The I See The Light Company has a related company that produces the figurines. They use process costing 14 in the molding department. The factory overhead is applied at a rate of 50% of direct labor dollars. 15 The material is added at the beginning of the process. The labor and overhead costs are assumed 16 to be added uniformly throughout 17 18 20 21 22 23 Month of January 24 26 Selected information for January is presented below. Note that the applied overhead rate was 27 50% of direct labor costs in the molding department 28 29 30 Molding Department 32 33 Goods in-process as of January 1 were 3,000 figurines at a cost of $8,400.00. Of this amount, S1,560.00 was from 34 raw materials added, $4,560.00 for labor and $2,280.00 for overhead. These 3,000 figurines were assumed to be 35 80.00% complete as to labor and overhead. 36 38 During January, 21,500 units were started, $10,750.00 of materials and $36,670.00 of labor costs were incurred. 39 40 The 4,000 figurines that were in-process at the end of January were assumed to be 30.00% complete to 41 labor and overhead. 42 44 All figurines in January passed inspection 45 46 | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 9 | 10 11 | 12 | 13 14 15 1 LO Clipboard Font Alignment Number Styles B82 fx =3000*0.2 D F G H 6 January E 4 PART 4.2 5 6 Process Costing - First-In First-Out 7 10 MOLDING 11 12 Physical Flow of Units 13 14 Work-in-Process - Beginning 17 Units Started this Period 18 Units to Account for 19 20 Total transferred out 21 Work-in-Process - Ending 24 Total Accounted for 25 26 3000 21500 24500 20,500 units (15.01) 4000 24,500 units 27 21500 21,500.000 15.02) 0.2 0.3 600 1200 17500 19,300.000 (15.03) 28 31 Equivalent Units Material (Round to three places, ##.###.###) 32 33 3000 34 4000 35 17500 38 Equivalent Units Conversion (Round to three places, ##.###.###) 39 40 41 42 45 46 given | 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 2. ... 19 Higher B82 fx =3000*0.2 G H 10,750.00 115.05) 55,005.00 (15.06) 8,400.00 10,750.00 55,005.00 74,155.00 15.07) B D E F 53 54 55 56 given 59 Total cost of Material this period (Round to two places, ##.###.##) $ 60 61 62 63 0.5 36670 18335 550051 66 Total cost of Conversion this period (Round to two places, ##.###.##) $ 67 68 $ 69 $ 70 $ 71 Total cost to account for (Round to two places, ##.###.##) $ 72 73 74 75 Cost per equivalent unit of Material this period (Round to seven places, ###.#######) $ 76 77 $ 78 79 80 Cost per equivalent unit of Conversion this period (Round to seven places, ###.#######) $ 81 82 600, $300.0000000 $ 83 1200 ############ $ 84 1000 $500.0000000 $ 85 1000 $ 86 Cost of the units transferred, material and convesion (Round to two places, $###,###.##) $ 87 88 89 4000 $ 0.5000000 $ 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 21500 10750 0.5000000 (15.08) $ 55,005.00 19,300 units $ 2.8500000 (15.09) 300.0000000 3,420.00 500.0000000 2,850.0000000 7,070.00 (15.10) 2 2.000.0000000 19 20 21 18 22 2. ... 19

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