Chapter 12

September 11, 2017 | Author: Christian Jay S. de la Cruz | Category: Services (Economics), Supply Chain Management, Management Accounting, Business Economics, Distribution (Business)
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1

CHAPTER 12 Answers to Multiple Choice - Theoretical 1. 2.

a c

3. 4.

a b

5. 6. 7.

b a a

Solutions to Multiple Choice – Computational 1.

(b) Units completed: From BWIP: (50% x 100) From started in process (100%) Work in process, end: (75% x 200) EUP

2.

3.

50 300

350 150 500

(d) Unit material cost: Material cost this month Divided by EUP Unit cost

P720,000 ÷ 500 P 1,400

Ending work in process: (P1,440 x 150)

P216,000

(a) Equivalent unit of production – Labor Transferred out: From BWIP: (60% x 1,000) From transferred in Ending work in process: (70% x 4,000) EUP

600 26,000

Unit labor cost: Labor cost this month Divided by EUP Unit labor cost Transferred out: From BWIP: Labor cost last month Labor cost this month (600 x P8.10) From transferred in; (26,000 x P8.10) Overhead cost of units transferred out

26,600 2,800 29,400 P238,140 ÷ 29,400 P 8.10

P 3,600 4,860

P 8,460 210,600 P219,060

2 4.

(a) Equivalent units of production – Overhead: Transferred out: From BWIP (3,300 x 2/3) From transferred in Ending work in process (2,000 x ¾) EUP

5.

P38,025 ÷16,900 P 2.25

Transferred out: From BWIP: Overhead cost last month P 2,332 Overhead cost this month (2,200 x P2.25) 4,950 From transferred in (13,200 x P2.25) Overhead cost of units transferred out

P 7,282 29,700 P36,982

(b)

12,800 76,000

88,800 9,600 98,400

P468,000 ÷ 104,000 P 4.50

(b) Conversion cost incurred this month Divided by EUP Unit conversion cost

9.

82,400 21,600 104,000

(b) Material cost incurred this month Divided by EUP Unit material cost

8.

6,400 76,000

(d) Transferred out: From BWIP (80% x 16,000) From SIP Ending work in process (40% x 24,000) EUP – conversion cost

7.

15,400 1,500 16,900

Unit overhead cost: Overhead cost incurred this month Divided by EUP Unit overhead cost

Transferred out: From BWIP (40% x 16,000) From SIP 92,000 – 16,000) Ending work in process (90% x 24,000) EUP – materials 6.

2,200 13,200

P574,040 ÷ 98,400 P 5.83

(a) Materials (21,600 x P4.50) Conversion cost (9,600 x P5.83) Cost of EWIP

P 97,200 55,968 P153,168

3 10.

(a) Equivalent units of production: Materials: Transferred out: From BWIP (5,000 x 0%) From SIP (91,400 – 5,000) Ending work in process (4,000 x 100%) EUP Conversion cost: Transferred out: From BWIP (5,000 x 60%) From SIP Ending work in process (4,000 x 70%) EUP

-086,400

3,000 86,400

Unit costs: Materials: (P433,920 / 90,400) Conversion cost: (P115,250 / 92,200) Total unit costs Transferred out: From BWIP: Cost last month Cost this month: Conversion cost (3,000 x P1,25) From SIP (86,400 x P6.05) Total cost transferred out 11.

89,400 2,800 92,200 P 4.80 1,25 P 6.05

P24,875 3,750

P 28,625 522,720 P551,345

(a) Material costs: (4,000 x P4.80) Conversion costs: (2,800 x P1.25) Cost of ending work in process

12.

86,400 4,000 90,400

P19,200 3,500 P22,700

(a) Gallons transferred out Gallons in ending inventory Total units accounted for Gallons in beginning inventory Gallons started in April

242,000 23,500 265,500 (36,000) 229,500

4 13.

(a) Equivalent Units of Production: Material: Transferred out: From BWIP: (0%) From SIP: (242,000 – 36,000) Ending work in process: (23,500 x 100%) EUP

- 0 206,000

Labor: Transferred out: From BWIP: (36,000 x 65%) From SIP: (100%) Ending work in process: (23,500 x 25%) EUP

23,400 206,000

Overhead: Transferred out: From BWIP: (36,000 x 40%) From SIP Ending work in process: (23,500 x 30%) EUP

14,400 206,000

Unit costs: Material costs: (P1,131,435 / 229,500) Labor costs: (P451,728 / 235,275) Overhead costs: (P773,330 / 227,450) Total unit costs Completed BWIP Cost last month Cost this month: Materials: Labor: (23,400 x P1.92) Overhead: (14,400 x P3.40) Total costs of completed BWIP 14.

229,400 5,875 235,275

220,400 7,050 227.450 P 4.93 1.92 3.40 P10.25 P276,400

-044,928 48,960

93,888 P370,288

(a) Units completed: From BWIP (#13) From SIP: (206,000 x P10.25) Total costs of units completed

15.

206,000 23,500 229.500

P 370,288 2,111,500 P2,481,788

(a) Total costs of units completed (#14) Divided by total units completed Average unit cost

P2,481,788 ÷ 242,000 P 10.26

5 16.

(a) Materials: (23,500 x P4.93) Labor: (5,875 x P1.92) Overhead: (7,050 x P3.40) Total cost of EWIP

17.

P115,855 11,280 23,970 P151,105

(b) Equivalent Units of Production – Materials Units completed: From BWIP: (20 x 0%) From SIP: (90 – 20) 100% Ending work in process: (10 x 100%) EUP

0 70

Unit material cost: Material cost incurred this month Divided by EUP Unit material cost 18.

Unit conversion cost: Conversion costs incurred this month Divided by EUP Unit conversion cost

78 7 85 P3,740,000 ÷ 85 P 44,000

P2,280,000 352,000 P2,632,000

(a) Transferred out: From BWIP #(19) From SIP; (70 x P144,000) Total cost of units completed Divided by total units completed Average unit cost

21.

8 70

(a) Cost incurred last month Cost incurred this month: Conversion costs: (8 x P44,000) Total costs of completed BWIP

20.

P8,000,000 ÷ 80 P 100,000

(a) Equivalent Units of Production – Conversion Cost: Units completed: From BWIP: (20 x 40%) From SIP Ending work in process: (10 x 70%) EUP

19.

70 10 80

(a) , See #20 above.

P 2,632,000 10,080,000 P12,712,000 ÷ 90 P 144,244

6 22.

(a) Materials: (10 x P100,000) Conversion cost: (7 x P44,000) Cost of EWIP inventory

23.

P1,000,000 308,000 P1,208,000

(a) Equivalent Units of Production - Materials Units completed: From BWIP: (10,000 x 0%) From SIP: (34,000 – 10,000) 100% Ending work in process: (16,000 x 100%) EUP – Materials

0 24,000

Unit material cost: (P280,000 / 40,000) 24.

P 7.00

(a) Equivalent Units of Production – Conversion Costs: Units completed: From BWIP: (10,000 x 30%) From SIP Ending work in process: (16,000 x 50%) EUP – Conversion costs

3,000 24,000

Unit conversion costs: (P371,000 / 35,000) 25.

P10.60

P60,000 P -031,800

31,800 P91,800

(b) Units Transferred out: From BWIP (#25) From SIP: (24,000 x P17.60) Total costs of units transferred out Divided by units transferred out Average unit cost of units transferred out

27.

27,000 8,000 35,000

(d) Cost last month Cost added this month: Material cost Conversion costs: (3,000 x P10.60) Total cost of competed BWIP

26.

24,000 16,000 40,000

P 91,800 422,400 P514,200 ÷ 34,000 P 15.12

(a) Material cost: (16,000 x P7) Conversion costs: (8,000 x P10.60) Total costs of EWIP inventory

P112,000 84,800 P196,800

7 28.

(a) Transferred in costs this month Divided by units transferred in this month Unit transferred in cost

29.

P85,600 ÷ 80 P 1,070

(a) Equivalent Units of Production: Materials: Competed and transferred out: From BWIP: (40 x 100%) From transferred in: (90 – 40) 100% Ending work in process: (30 x 0%) EUP Conversion costs:: Completed and transferred out: From BWIP: (40 x 25%) From transferred in Ending work in process: (30 x 50%) EUP

40 50

10 50

Unit costs: Materials: (P36,000 / 90) Conversion costs: (49,725 / 75) 30.

60 15 75 P400 P663

(a) Units completed and transferred out: From BWIP: Cost last month Cost added this month: Materials: (40 x P400) CC: (10 x P663) From transferred in: (P1.070 + P400 + P663) x 50 Total costs of units completed and transferred out

P57.200 16,000 6,630

Ending work in process: Transferred in costs: (30 x P1,070) Costs added this department: Conversion cost: (15 x P663) Total costs of EWIP 31.

90 0 90

P 79,830 106,650 P186,480 P 32,100 9,945 P 42,045

(d) Equivalent Units of Production – Materials: Units completed: From BWIP (150 x 100%) From Transferred In: (525 – 150) Ending work in process (75 x 0%) EUP – Materials

150 375

525 0 525

8 No. 31 (continued) Equivalent Units of production – Conversion Costs: Units completed: From BWIP: (150 x 30%) From Transferred In Ending work in process (75 x 60%) EUP – CC 32.

45 375

(a) Material cost incurred this month Divided by EUP Unit material cost

33.

P971,250 ÷ 525 P 1,850

(a) Conversion costs incurred this month Divided by EUP Unit conversion costs

34.

P395,250 ÷ 465 P 850

(a) Cost last month Cost this month: Materials: (150 x 1,850) Conversion costs: (45 x P850) Total costs of completed BWIP

35.

420 45 465

P327,965 P277.500 38,250

315,750 P643,715

(a) Transferred out to finished goods: From BWIP ( #34) From Transferred In: (P1,770* + P1,850 + P850) x 375 Total cost of units transferred out to finished goods

P 643,715 1,676,250 P2,319,965

* Unit transferred in cost: (P796,500 / 450) = P1,770

36.

(a) Transferred in costs from prior department: (75 x P1,770) Cost added in this department: Conversion costs: (45 x P850) Total costs of ending work in process

P 132,750 38,250 P 171,000

37. Equivalent Units of Production Cost added in current month Divided by cost per EUP EUP

Number 37 (continued):

Transferred In Costs P234,000 ÷ P 26 9,000

Direct Materials P228,000 ÷ P12 19,000

Conversion Costs P228,800 ÷ 20.80 11,000

9

Transferred In costs: Total EUP Started and completed (19,000 - 15,000) EUP – Transferred in Direct materials: Total EUP Transferred out From BWIP (15,000 x 100%) From started and completed EUP – EWIP Conversion Costs: Total EUP Transferred out: From BWIP (15,000 x 40%) From started and completed EUP – EWIP Percentage of Completion: Transferred in costs: (5,000 / 5,000) Direct materials: ( 0 / 5,000) Conversion costs: (1,000 / 5,000) 38.

9,000 (4,000) 5,000 19,000 15,000 4,000

(19,000) -011,000

6,000 4,000

(10,000) 1,000

100% 0% 20%

(a) Transferred out: From BWIP: Cost last month Cost added this month: Materials (15,000 x P12) CC: (6,000 x P20.80) Total costs of BWIP From started and completed (4,000 x P58.80) Total costs of units transferred out Ending Work In Process: Transferred in costs from prior department (5,000 x P26) Cost added this department: Conversion costs: (1,000 x P20.80) Total costs of EWIP

Solutions to Problems

P 540,000 180,000 124,800 844,000 235,200 P1,080,000 P 130,000 20,800 P 150,800

10

Problem 12-1 1.

Equivalent Units of Production: Materials: Completed and transferred out: From BWIP: (300 x 0%) From SIP: (2,000 – 300) 100% Ending work in process: (500 x 100%) EUP Conversion Costs: Completed and transferred out: From BWIP: (300 x 60%) From SIP Ending work in process: (500 x 25%) EUP

-01,700

1,700 500 2,200

180 1,700

1,880 125 2,005

Unit Costs: Materials: (P699,600 / 2,200) Conversion costs: (P425,060 / 2005) Total unit costs Total costs – Forming Department: BWIP Cost added during April: Materials Conversion costs Total costs Assignment of Costs: Units completed and transferred out: From BWIP: Cost last month Cost added this month: CC: (180 x P212) From SIP: (1,700 x P5.30) Total costs completed and transferred out

P318 212 P530 P P699,600 425,060

1,124,660 P1,035,410

P96,250 38,160

P 124,410 901,000 P1,035,410

Ending work in process: Materials: (500 x P318) Conversion costs: (125 x P212) Total costs of EWIP 2.

96,250

P 159,000 26,500 P 185,500

Work in process – Forming Department 1,124,660 Account payable (materials) Various accounts (conversion costs) To record direct materials and conversion costs incurred And used in production during April. Work in process – Finishing Department Work in process – Forming Department To record costs of units transferred to Finishing Department.

699,600 425,060

1,035,410 1,035,410

11 Problem 12 -2 2.

Equivalent Units of Production: Materials: Completed and transferred out: From BWIP: (500 x 100%) From SIP: (2,100 – 500) 100% Ending work in process: (400 x 0%) EUP Conversion costs: Completed and transferred out: From BWIP: (500 x 40%) From SIP Ending work in process: (400 x 30%) EUP

500 1,600

200 1,600

Unit Costs: Transferred in costs: (P1,035,410 / 2,000) Materials costs: (P231,000 / 2,100) Conversion costs: (P384,000 / 1,920) Total unit costs Total Costs – Finishing Department: Work in process, April 1 Transferred In costs this month Cost added this month: Materials Conversion costs Total costs Assignment of costs: Units completed and transferred out: From BWIP: Cost last month Cost added this month: Materials: (500 x P110) CC: (200 x 200) From SIP: (1,600 x P827.705) Total costs of units completed and transferred out

1,800 120 1,920 P517.705 110.00 200.00 P827.705 P 247,700 1,035,410

P231,000 384,000

615,000 P1,898,110

P247,700 55,000 40,000

Ending Work in Process: Transferred In costs: (400 x P517.705) Cost added: Conversion costs: (120 x P200) Total costs of EWIP 2.

2,100 -0– 2,100

P 342,700 1,324,328 P1,667,028 P 207,082 24,000 P 231,082

Work in process – Finishing Department 1,035,410 Work in process – Forming Department To record transferred in costs from Forming Department.

1,035,410

Finished goods 1,667,028 Work in process – Finishing Department To record cost units transferred out to finished goods.

1,667,028

12 Problem 12-3 1.

2.

Equivalent Units of Production: Materials: Completed and transferred out: From BWIP: (4,000 x 0%) From SIP: (50,000 – 4,000) 100% Ending work in process: (6,000 x 100%) EUP

-046,000

Conversion Costs: Completed and transferred out: From BWIP: (4,000 x 40%) From SIP Ending work in process: (6,000 x 75%) EUP

1,600 46,000

46,000 6,000 52,000

47,600 4,500 52,100

Cooking Department Cost of Production Report Month of July 2010 Quantity Schedule Beginning work in process Started in process Units to account for

Units 4,000 52,000 56,000

Completed and transferred out: From BWIP 4,000 From SIP 46,000 Ending work in process Total accounted for

50,000 6,000 56,000

Cost Schedule BWIP Cost added this month: Materials Conversion costs Total costs to account for Completed and transferred Out: From BWIP: Cost last month Cost added this month: Conversion costs Total BWIP From SIP Total costs transferred out Ending work in process: Materials Conversion costs Total EWIP Total costs accounted for

Total Cost P 84,448 595,920 860,692 P1,541,060

P

EUP ÷ ÷

Unit Costs

52,000 = P11.46 52,100 = 16.52 P27.98

84,448

26,000 110,880 1,287,080 P1,297,960

=

1,600 x

P16.52

=

4,600 x

27.98

P

= =

6,000 x 4,500 x

11.46 16.52

68,760 74,340 143,100 P1,541,060

13

Problem 12-4 1.

2.

Equivalent Units of Production: Materials: Transferred out: From BWIP: (8,000 x 20%) From SIP: (44,000 – 8,000) Ending work in process: (4,000 x 70%) EUP

1,600 36,000

Labor: Transferred out: From BWIP: (8,000 c 60%) From SIP Ending work in process: (4,000 x 50%) EUP

4,800 36,000

Overhead: Transferred out: From BWIP: (8,000 x 70%) From SIP Ending work in process: (4,000 x 40%) EUP

5,600 36,000

Curing Department Cost of Production Report Month of May 2010 Quantity Schedule Beginning work in process Transferred In from prior department Units to account for Transferred out: From BWIP From Transferred In Ending work in process Total accounted for

Units 8,000 40,000 48,000 8,000 36,000

44,000 4,000 48,000

37,600 2,800 40,400

40,800 2,000 42,800

41,600 1,600 43,200

14

Problem 12-4 (continued) Cost Schedule Beginning work in process Transferred In cost - current month Cost added this department: Materials Labor Overhead Total costs to account for Costs accounted for as follows: Transferred out: From BWIP: Cost last month Cost added this month: Materials Labor Overhead Total BWIP From Transferred In Total costs transferred out Ending Work in process: Transferred in costs Cost added: Materials Labor Overhead Total EWIP Total costs accounted for

Total Costs P 202,520 640,000

EUP

Unit Costs

÷

40,000

= P16.00

÷ ÷ ÷

40,400 42,800 43,200

= = =

= = =

1,600 4,800 5,600

x x x

P 8.00 4.00 2.00

=

36,000

x

30.00

64,000

=

4,000

x

16.00

22,400 8,000 3,200 97,600 P1,423,320

= = =

2,800 2,000 1,600

x x x

8.00 4.00 2.00

323,200 171,200 86,400 P1,423,320

8.00 4.00 2.00 P30.00

P 202,520 12,800 19,200 11,200 245,720 1,080,000 1,325,720

Problem 12-5

15

1.

Equivalent Units of Production: Materials: Transferred out to finished goods: From BWIP: (1,000 x 10%) From SIP: (2,800 – 1,000) 100% Ending work in process: (1,200 x 50%) EUP

100 1,800

Conversion costs: Transferred out to finished goods: From BWIP: (1,000 x 20%) From SIP Ending work in process: (1,200 x 40%) EUP 2.

1,900 600 2,500

200 1,800

2,000 480 2,480

Assembly Department: Cost of Production Report Month of November 2010 Quantity Schedule Beginning work in process Started in process Total to be accounted for

Units 1,000 3,000 4,000

Transferred out to finished goods: From BWIP From SIP Ending work in process Total accounted for

1,000 1,800

Cost Schedule Beginning work in process Costs from prior department Costs added this department: Materials Conversion costs Total to accounted for Transferred out to finished goods: From BWIP: Cost last month Current costs: Materials CC Total BWIP From SIP Total costs transferred out Ending work in process: Cost from prior department Cost added this department: Materials Conversion cost Total BWIP Total accounted for

Total Costs P 397,000 292,500 133,750 262,880 P1,086,130

2,800 1,200 4,000 EUP

Unit Costs

÷

3,000

= P 97.50

÷ ÷

2,500 = 2,480 =

53.50 106.00 P257.00

P 397,000 5,350 21,200 423,550 462,600 P 886,150

= =

100 200

x x

53.50 106.00

=

1,800

x

257.00

117,000

=

1,200

x

97.50

32,100 50,880 199,980 P1,086,130

= =

600 480

x x

53.50 106.00

Problem 12-6

16

1.

Equivalent Units of Production: Materials: Transferred out: From BWIP: From SIP Ending work in process EUP Conversion costs: Transferred out: From BWIP From WIP Ending work in process EUP

2.

Department 1

Department 2

-040,000 10,000 (100%) 50,000

-036,000 9,000 (100%) 45,000

1,750 (35%) 40,000 7,500 (75%) 49,250

4,200 (60%) 36,000 4,500 (50%) 44,700

Department 1 Cost of Production Report For the Month of May 2010 Quantity Schedule Beginning work in process Started in process Total to account for

Units 5,000 50,000 55,000

Transferred out to Department 2: From BWIP From SIP Ending work in process Total accounted for

5,000 40,000 10,000 55,000

Cost Schedule Beginning work in process Cost added this month: Direct materials Conversion costs Total to account for Costs accounted for as follows: Transferred out to Department2: From BWIP: Cost last month Cost added: CC Total BWIP From SIP Total costs transferred out Ending work in process: Materials Conversion costs Total costs of BWIP Total accounted for Problem 12-6 (continued)

Total Costs P 32,475 65,000 142,825 P240,300

EUP

Unit Costs

÷ ÷

50,000 = 49,250 =

P1.30 2.90 P4.20

5,075 37,550 168,000 205,550

=

1,750 x

P2.90

=

40,000 x

4.20

13,000 21,750 34,750 P240,300

= =

10,000 x 7,500 x

1.30 2.90

P 32,475

17

Department 2 Cost of Production Report Month of May 2010 Quantity Schedule Beginning work in process Transferred In from prior department Total to account for Transferred out to finished goods: From BWIP From TI Ending work in process Total accounted for Cost Schedule Beginning work in process Cost from prior department Cost added this department: Direct materials Conversion costs Total to account for

Units 7,000 45,000 52,000 7,000 36,000

Total costs P 65,560 205,550

EUP

Unit Costs

÷

45,000

÷ ÷

45,000 = 44,700 =

=

4,200

x P2.46

=

36,000

x

8.02778

P 41,110

=

9,000

x

4.56778

9,000 11,070 61,180 P426,072

= =

9,000 x 4,500 x

45,000 109,962 P426,072

Cost accounted for: Transferred out to finished goods: From BWIP: Cost last month P 65,560 Cost added this month: CC 10,332 Total BWIP 75,892 From transferred in 289,000 Total costs transferred to FG P364,892 Ending work in process: Transferred In Cost added: Materials Conversion costs Total EWIP Total accounted for

43,000 9,000 52,000

Problem 12-7

= P4.56778 1.00 2.46 P8.02778

1.00 2.46

18

1.

2.

Equivalent Units of Production: Cutting Department Beginning WIP Started in process Total to account for

Units 1,300 4,800 6,100

Materials

Conversion

Transferred Out: From BWIP From SIP Ending WIP EUP

1,200 3,700 1,100 6,100

260 3,700 440 4,400

325 3,700 220 4,245

Coating Department Beginning WIP Started in process Total to account for

Units 900 5,000 5,900

Transferred out: From BWIP From SIP Ending WIP EUP

900 3,600 1,400 5,900

Conversion

900 3,600 -04,500

360 3,600 560 4,520

Material P35,200 ÷ 4,400 P 8

Conversion P25,470 ÷ 4,245 P 5

Cost per equivalent unit: Cutting Department Current costs Divided by EUP Unit costs

3.

Materials

Cost transferred out and EWIP inventory of Cutting Department: Cost of BWIP Cost to complete BWIP: Material: (260 x P8) Conversion: (325 x P5) Started and completed : (3,700 x P13) Total costs transferred out Ending WIP: Materials: (440 x P8) Conversion costs: (220 x P5) Total costs

Problem 12-7 (continued)

P16,065 P 2,080 1,625 48,100

P3,520 1,100

51,805 P67,870

4,620 P72,490

19

4.

Coating Department Current costs Divided by EUP Unit cost

Transferred In P67,870 ÷ 5,000 P13.574

Material P4,950 ÷4,500 P 1.10

Conversion P11,300 ÷ 4,520 P 2.50

Cost Assignment: Transferred out: From BWIP: Cost last month Cost added this month: Material: (900 x P1.10) Conversion: (360 x P2.50) From SIP: (3,600 x P17.17) Total cost transferred out Ending WIP: Transferred in: (1,400 x P13.574) Conversion cost: (560 x P2.50) Total costs accounted for 5.

P13,514 990 900

P19,004 1,400

P15,404 61,812 P77,216

20,404 P97,620

Since there was no beginning or ending FG inventory, cost of goods sold is equal to cost of goods manufactured (transferred out to FG) for the period. Thus COGS = P77,216

Problem 12-8

20 1.

2.

Equivalent Units of Production – Molding Department: Materials: Transferred out: From BWIP: (700 x 0%) From SIP: Ending WIP: (500 x 100%) EUP

-03,400

Labor: Transferred out: From BWIP: (700 x 45%) From SIP Ending WIP: (500 x 60%) EUP

315 3,400

Overhead: Transferred out: From BWIP: (700 x 30%) From SIP: Ending WIP: (500 x 75%) EUP

210 3,400

3,400 500 3,900

3,715 300 4,015

3,610 375 3,985

Equivalent Units of Production – Finishing Department: Materials: Transferred Out: From BWIP: (420 x 50%) From SIP Ending WIP: (380 x 25%) EUP

210 3,720

Labor: Transferred Out: From BWIP: (420 x 60%) From SIP Ending WIP: (380 x 25%) EUP

252 3,720

Overhead: Transferred Out: From BWIP: (420 x 60%) From SIP Ending WIP: (380 x 25%) EUP

252 3,720

Problem 12-8 (continued)

3,930 95 4,025

3,972 95 4,067

3,972 95 4,067

21 2.

Molding Department: Cost of Production Report Month of June 2010 Quantity Schedule Beginning WIP Started in process Total to account for Transferred out: From BWIP From SIP Ending WIP Total accounted for

Units 700 3,900 4,600 700 3,400

Cost Schedule Beginning WIP Costs added in current month: Materials Labor Overhead Total cost to account for Transferred out: From BWIP: Cost in BWIP Cost added in current month: Labor Overhead Total BWIP From SIP Total cost transferred out Ending WIP Materials Labor Overhead Total Ending WIP Total accounted for

4.

Finishing Department

4,100 500 4,600 Total Costs P11,918.20 36,660.00 24,090.00 26,221.30 P98,889.50

EUP

Unit Costs

÷ ÷ ÷

3,900 4,015 3,985

= = =

P 9.40 6.00 6.58 P21.98

1,890.00 1,381.80 15,190.00 74,732.00 P89,922.00

= =

315 210

x x

P 6.00 6.58

=

3,400

x

21.98

4,700.00 1,800.00 2,467.50 8,967.50 P98,889.50

= = =

500 300 375

x x x

9.40 6.00 6.58

P11,918.20

22 Cost of Production Report Month of June 2010 Quantity Schedule Beginning WIP Transferred In from prior department Total to account for Transferred Out: From BWIP From TI Ending WIP Total accounted for Cost Schedule Beginning WIP Transferred In costs this month Cost added this month: Material Labor Overhead Total to account for Transferred Out: From BWIP: Cost of BWIP Cost added in current month: Material Labor Overhead Total cost of BWIP From Transferred In Total costs transferred to FG Ending WIP: Transferred In Cost added: Material Labor Overhead Total cost of EWIP Total accounted for *P5 difference due to rounding off

Problem 12-8 (continued)

Units 420 4,100 4,520 420 3,720

Total Costs P 10,232.04 89,922.00 4,025.00 16,186.66 8,050.00 P128,415.70

4,140 380 4,520 EUP

Unit Costs

÷

4,100

= P21.93220

÷ ÷ ÷

4,025 = 4,067 = 4,067 =

1.00 3.98 1.97935 P28.89155

P 10,232.04 210.00 1,002.96 498.80 11,943.80 107,476.57 P119,420.32*

= = =

P 8,334.24

=

95.00 378.10 188.04 8,995.38 P 128,415.70

= = =

=

210 x P 1.00 252 x 3.98 252 x 1.97935 3,720 x

380

28.89155

x

21.93220

95 x 95 x 95 x

1.00 3.98 1.97935

23

5.

Work in process – Finishing Department Work in process – Molding Department To record cost of units transferred out from Molding Department to Finishing Department.

89,922.00

Finished Goods Inventory Work in process – Finishing Department To record cost of finished goods.

119,420.22

89,922.00

119,420.22

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