Refer to the Following Information About the Painting Department in the Richardson

question 68

Essay

Refer to the following information about the Painting Department in the Richardson Factory for the month of June.Richardson Factory uses the FIFO method of inventory costing.
Beginning goods in process inventory:
Physical units…………………………………………... 5,000 units
% complete for materials………………………………. 70%
% complete for labor and overhead……………………. 25%
Materials cost from May……………………………….. $7,350
Labor and overhead cost from May……………………. $3,125
Product started and completed:
Physical units…………………………………………… 40,000 units
Ending goods in process inventory:
Physical units………………………………………….... 4,000 units
% complete for materials………………………………. 40%
% complete for labor and overhead ……………………. 10%
Manufacturing costs for June:
Materials………………………………………………… $96,975
Labor and overhead……………………………………... $79,470
Compute equivalent units for direct materials,direct labor and overhead for June.

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Definitions:

Mandible

The lower jawbone, which is the largest and strongest bone in the human face, involved in chewing and forming the lower part of the facial skeleton.

Foramen

A natural opening or passage, especially in a bone, through which nerves or blood vessels pass.

Tubercle

Lump on a bone.

Sinus

A cavity within a bone or other tissue, most often filled with air or fluid.