Business, 24.03.2020 01:55 samueltaye
Lacy, Inc., produces a subassembly used in the production of hydraulic cylinders. The subassemblies are produced in three departments: rod cutting, plate cutting, and welding. Overhead is applied using the following drivers and activity rates:
Driver Rate Actual Usage (by plate cuting)
Direct Labor Cost 150% of direct labor $ 732,000
Inspection hours $40 per hour 7,450 hours
Purchase orders $1,000 per order 800 orders
Other data for the plate cutting department are as follows:
Beginning work in process
Units started 750,000
Direct material cost $6,000,000
Units, ending work in process
(100% materials; 64% conversion) 20,000
Required:
1. Prepare a physical flow schedule.
2. Calculate equivalent units of production for Direct materials and Conversion Costs using the weighted average method.
3. Calculate unit costs for Direct Materials, conversion costs, and total manufacturing
4. Provide the following information: The total cost of units transferred out, the journal entry for trasferring costs from plate cutting to welding, and the cost assigned to units in ending inventory.
Answers: 2
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Lacy, Inc., produces a subassembly used in the production of hydraulic cylinders. The subassemblies...
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