Question: Basic Cost Flows Curtis Company produces a common machine component for industrial equipment in three departments: molding, grinding, and finishing. The following data are available for October:
During October, 6,000 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.
2. Calculate the unit cost.