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22 June, 08:01

The following information is available from the records of Kamond Cut, Inc.:Direct Materials-Assembly Department $10,000Direct Materials-Finishing Department 15,000Direct Labor-Assembly Department 11,000Direct Labor-Finishing Department 20,000Applied Overhead-Assembly Department 11,000Applied Overhead-Finishing Department 20,000Actual Overhead-Assembly Department 12,500Actual Overhead-Finishing Department 17,500a) What are the "total costs to account for" in the Assembly Department? b) What are the conversion costs in the Finishing Department?

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  1. 22 June, 10:30
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    a. Total cost in Assembly Department: $

    Direct material 10,000

    Direct labour 11,000

    Applied overhead 11,000

    Total cost 32,000

    b. Conversion cost in Finishing Department

    Direct labour 20,000

    Applied overhead 17,500

    Total conversion cost 37,500

    Explanation: Total cost is the aggregate of direct material cost, direct labour cost and overhead.

    Conversion cost is the aggregate of labour and overhead.
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