Question

please help me out

Using a spreadsheet and based on the information provided in the next section, complete the following requirements: 1. Determine the started and completed units by using the following formula: Started - Ending - Completed and Transferred Out - Beginning 2. Prepare an equivalent units schedule. The schedule should follow the format below; you may add additional information if you would like. (Remember that the schedule is for units of drones.) Equivalent Units Whole Units (Actual) Direct Materials- Aluminum Conversion Costs Direct Materials - Motor and Propellers XXX XXX XXX Beginning Start/Completed Completed/Transferred Out Ending Total XXX XXX XXX XXX XXX XXX XXX xxx xoxox XXX ХОХ Хоох 3. Calculate the total cost and the cost per equivalent unit for the direct materials aluminum. 4. Calculate the total cost and the cost per equivalent unit for the direct materials motor and propellers. 5. Calculate the predetermined overhead rate. 6. Determine the total conversion cost by using the predetermined rate and the direct labor rate. Then determine the conversion cost per drone. 7. Determine the unit cost per drone. 8. Prepare a cost of Production report. This report should show all costs transferred into Work-in- Process and the costs transferred to Finished Goods by using the Equivalent Units Schedule. This process uses FIFO costing. 9. Determine the amounts for the following. a) Ending Work-in-Process Inventory in Units AND Dollars b) Ending Finished Goods Inventory in Units AND Dollars c) Cost of Goods Sold d) Over/Under Applied Manufacturing Overhead e) Show and calculate an Income Statement fOver or Under applied COGS B) Gross Profit h) Net Income

Answer 1

Only first four sub-parts are solved

Requirement 1 14900 Units Started (4000-200)*4 (-) Units Ending 15200 -300 14900 Units Completed and Transferred out (-) Units Beginning 14900 Requirement 2 Physical units Direct Materials-Aluminium Equivalent Units Direct Materials- Motor and Propellers eu Conversion costs % eu e.u % UNITS Units to account for Units in Beginning WIP Units started (4000-200)*4 Total units to acount for Units accounted for: Transferred to FG (15200-300) Ending Inventory in Process Total units acccounted for O 15200 15200 14900 300 15200 100% 100% 14900 300 100% 0% 14900 0 14900 100% 45% 14900 135 15200 15035 Requirement 3 9120 Beginning Direct materials-Aluminium cost (+) Purchase (4000*2.28) (-) Ending cost (200*2.28) Cost of Direct Materials-Aluminum consumed Equivalent units Cost per equivalent unit (8664/15200) -456 8,664 15200 0.57

Requirement 4 15200 Beginning Direct materials-Motors (+) Purchase (15200*1) (-) Ending cost Cost of Direct Materials-Motors consumed 15,200 6080 Beginning Direct materials-Propellers (+) Purchase (60800*0.1) (-) Ending cost Cost of Direct Materials-Propellers consumed $ 6,080 $ Total cost of Direct Materials- Motors and Propellers Equivalent units Cost per equivalent unit (21280/14900) 21,280 14900 1.02