Question - Davis Company produces a common machine component for industrial equipment in three departments: molding, grinding, and finishing. The following data are available for November:
molding Grinding finishing respectively
Direct materials $143,300$15,700$10,200Direct labor13,60034,20022,800
Applied overhead 17,000135,90019,400
During November, 8,800 components were completed. There is no beginning or ending WIP in any department.
Required:
1. Prepare a schedule showing, for each department, the cost of direct materials, direct labor, applied overhead, product transferred in from a prior department, and total manufacturing cost. Refer to the key below.
2. Calculate the unit cost. (Round the unit cost to two decimal places.)
Refer to the list below for the exact wording of an amount description within your schedule.