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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