raw materials on account. 2. Actual manufacturing overhead costs include: a. Repairs (a/p): $2,500 b. Utilities : $875 C. Depreciation on equipment: $1625 d. Rent (paid in advance): $2750 Insurance (prepaid policy): $1415 f. Indirect Material: $2,000 е. 3. Factory Labor totaled $55,000, of which $3,000 is employer payroll taxes 4. Madison Co. issued $55,310 of material to Process 1. 5. Assigned $18,000 of factory labors costs, of which $10,000 was assigned to Process 1 and the remainder was indirect. 6. Manufacturing overhead costs are applied at 74% of material issued (round to nearest dollar) 7. Balance in WIP -1 is transferred to Process-2 8. $15,450 of material is issued to Process-2 9. Assigned factory labor totaling $22,000, of which $12,000 was assigned to process 2 and remainder was indirect. 10. Manufacturing overhead costs are applied to Process 2 at a rate of 49.5% of material issued (to process 2) **Round to nearest dollar** 11. Actual manufacturing overhead costs paid totaled $3,450; manufacturing overhead costs charged to accounts payable totaled $13,975 12. Balance of Process 2 is transferred to Process 3 13. $8,000 of material is issued into process 3 14. Assigned factory labor totaling $15,000, of which $5000 was assigned to process 3 and the remainder was indirect. 15. Manufacturing overhead costs are applied to Process 3 at a rate of 75.25% of materials issued (to process 3). 16. Process 3 has been completed, which completes the manufacturing process. 17. The cost transferred to finished goods included 15,000 units. Calculate the cost per unit (round to hundredths) ; Madison Co. sold 2500 units fa

The transaction analysis is done with the help of the accounting equation. The basic accounting equation is alternatively known as the balance sheet equation is based on the double-entry system which says that for each transaction happening in a business…