The following are the costs incurred by Ericson Company: Factory utilities $ 16,500 Depreciation-factory equipment $12,650...

 

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The following are the costs incurred by Ericson Company: Factory utilities $ 16,500 Depreciation-factory equipment $12,650 Depreciation on delivery truck, $8,800 Repairs to office equipment $1,300 Indirect materials used $80,800 Direct materials used $137,600 Direct labor $89,100 Sales salaries $46,400 Payroll $227,400 Indirect factory labor $48,900 Factory repairs $2,000 Advertising $18,000 Factory manager's salary $13,000 Material purchases $220,000 Office supplies used $5,640 Property taxes on factory building $2,500 Additional information: Mat, Beg $20,000; Mat End ??? WIP Beg $0 WIP End $??? (10 units) FG Beg $0Finished units $??? (80 units), FG End $??? (15 units) Overhead is applied based on 150% of direct labor cost REQUIRED QUESTON 1: How many units are still in process at the end of May? Show computation. QUESTION 2: How many units are finished and on hand at the end of May? Show computation. QUESTION 3: What about the flow of cost of P360,350 given in the first illustration? What are the source documents for these? The following are the costs incurred by Ericson Company: Factory utilities $ 16,500 Depreciation-factory equipment $12,650 Depreciation on delivery truck, $8,800 Repairs to office equipment $1,300 Indirect materials used $80,800 Direct materials used $137,600 Direct labor $89,100 Sales salaries $46,400 Payroll $227,400 Indirect factory labor $48,900 Factory repairs $2,000 Advertising $18,000 Factory manager's salary $13,000 Material purchases $220,000 Office supplies used $5,640 Property taxes on factory building $2,500 Additional information: Mat, Beg $20,000; Mat End ??? WIP Beg $0 WIP End $??? (10 units) FG Beg $0Finished units $??? (80 units), FG End $??? (15 units) Overhead is applied based on 150% of direct labor cost REQUIRED QUESTON 1: How many units are still in process at the end of May? Show computation. QUESTION 2: How many units are finished and on hand at the end of May? Show computation. QUESTION 3: What about the flow of cost of P360,350 given in the first illustration? What are the source documents for these?

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Answer To answer the questions we need to calculate the number of units still in process and the num... View the full answer