Question: Please help!!! Answer yellow highlighted boxes. General Information The I See The Light Company has a related company that produces the figurines. They use process
| Please help!!! Answer yellow highlighted boxes. | |||||||||||||||||||||||||||||||
| 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.
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| Molding Department | |||||||||||||||||||||||||||||||
| Goods in-process as of January 1 were 2,800 figurines at a cost of $46,480.00. Of this amount, $44,800.00 was from | |||||||||||||||||||||||||||||||
| raw materials added, $1,120.00 for labor and $560.00 for overhead. These 2,800 figurines were assumed to be | |||||||||||||||||||||||||||||||
| 20.00% complete as to labor and overhead. | |||||||||||||||||||||||||||||||
| 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 in-process at the end of January were assumed to be 10.00% complete to | |||||||||||||||||||||||||||||||
| labor and overhead. | |||||||||||||||||||||||||||||||
total cost in beginning inventory (round to 2 places):
total cost of material this period (round to 2 places):
| Total cost of Conversion this period (Round to two places) |
| Total cost to account for (Round to two places) Cost per equivalent unit of Material this period (Round to seven places) | |
| Cost per equivalent unit of Conversion this period (Round to seven places) | |
| Cost of the units transferred, material and conversion (Round to two places) | |
| Cost of the ending inventory, material and conversion (Round to two places) | |
| Total Cost accounted for (Round to two places) |
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