Can you please help with the following? PART 4 Process Costing - Weighted Averag

Question

Can you please help with the following?

PART 4 Process Costing - Weighted Average 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. Month of January Selected information for January is presented below. Note that the applied overhead rate was 50% of direct labor costs in the molding department. Molding Department Goods in-process as of January 1 were 3,100 figurines at a cost of $33,926.00. Of this amount, $4,526.00 was from raw materials added, $19,600.00 for labor and $9,800.00 for overhead. These 3,100 figurines were assumed to be 40.00% complete as to labor and overhead. During January, 24,500 units were started, $39,634.00 of materials and $49,700.00 of labor costs were incurred. The 7,500 figurines that were in-process at the end of January were assumed to be 40.00% complete to labor and overhead. All figurines in January passed inspection.

Explanation / Answer

Solution Part 4:

Note: As multiple questions are posted, i have answered first question as per chegg policy, kindly post separate question for answer of remaining.

Reconciliation of Physical units Particulars Physical Units Particulars Physical Units Beginning units 3100 Unit Completed 20100 Unit started 24500 Ending Units 7500 Total Units 27600 Total Units 27600

Related Questions

Navigate

• Browse (All)
• Browse C
• Subjects

---