Squidward Department

Actual Materials Conversion Cost

Qty Schedule Quantity WD EUP WD EUP
In Process Beginning 7000 100% 7,000.00 5/7 5,000.00
Started 48000
Total 55000

Completed and Transferred

In Process beginning 7000 0% - 2/7 2,000.00
Started 43000 100% 43,000.00 100% 43,000.00
In Process End 5000 100% 5,000.00 2/5 2,000.00
Total 55000 48,000.00 47,000.00

Cost charged to Squidward

Total IP Beginning Current Cost EUP Unit Cost
Materials 122,320.00 26,320.00 96,000.00 48,000.00 2.0000000
Conversion Costs 122,305.00 20,755.00 101,550.00 47,000.00 2.1606382979
Total cost to be accounted for 244,625.00 47,075.00 197,550.00 4.1606383

Costs accounted as follows:

Transferred to Patrick, per allocation schedule 117,354.46
Transferred to Spongebob, per allocation schedule 112,949.27 230,303.72
In process end
Materials 10,000.00
Conversion Costs 4,321.28 14,321.28
Total cost as accounted for 244,625.00

Allocation of Joint Costs

In process beginning 47,075.00
Cost to complete 4,321.28
Started and completed 178907.44681
Total Joint Costs 230,303.72

Using NRV To Patrick To Spongebob Total

Estimated Lbs at completion 19800 29500
Selling Price 25 20
Cost to Sell 3 2
Further Processing Costs 4.91 6.96
NRV/unit 17.09 11.04
NRV 338,382.00 325,680.00 664,062.00
Joint Cost Rate 35% 35% 35%
Allocated Joint Cost 117,354.46 112,949.27 230,303.72
Physical Measures/Average unit cost To Patrick To Spongebob Total
Estimated Lbs at completion 20,000.00 30,000.00 50,000.00
Average Unit Costs 4.61 4.61 4.61
Allocated Joint Cost 92,121.49 138,182.23 230,303.72

Physical Measures/Weighted Average, assuming that the weight factor for Product X is 4 and 3 for Product Y
To Patrick To Spongebob Total
Estimated Lbs at completion 20,000.00 30,000.00 50,000.00
Weight 4.00 3.00
Total Weight 80,000.00 90,000.00 170,000.00
Weighted Average Unit Costs 1.35 1.35 1.35
Allocated Joint Cost 108,378.22 121,925.50 230,303.72
or Product Y
 Patrick Department
Actual Materials Conversion Cost
Qty Schedule Quantity WD EUP WD EUP
In Process Beginning 2500 50% 1250 4/5 2000
Started 20000
Total 22500

Completed and Transferred

In Process beginning 2500 50% 1250 1/5 500
Started 16050 100% 16050 100% 16050
In Process End 3750 50% 1875 1/2 1875
By Product/Loss 200 0% 0 0% 0
Total 22500 19175 18425

Cost charged to Patrick

Total IP Beginning Current Cost EUP Unit Cost
Cost from Squidward 137,104.46 19,750.00 117,354.46 19,800.00 5.92699271
Added this Department
Materials 32,890.00 2,780.00 30,110.00 19,175.00 1.570274
Conversion Costs 65,954.00 4,504.00 61,450.00 18,425.00 3.335142
Total cost to be accounted 98,844.00 7,284.00 91,560.00 4.905416
Total cost to be accounted for 235,948.46 27,034.00 208,914.46 10.832409
 Spongebob Department
Actual Materials Conversion Cost
Qty Schedule Quantity WD EUP WD
In Process Beginning 4,000.00 0% - 60%
Started 30,000.00
Total

Completed and Transferred

In Process beginning 4,000.00 100% 4,000.00 40%
Started 28,000.00 100% 28,000.00 100%
In Process End 1,500.00 0% - 1/3
Loss/By-product 500.00 0% - 0%
Total 34,000.00 32,000.00

Cost charged to Spongebob

Total IP Beginning Current Cost EUP
Cost from Squidward 157,989.27 45,040.00 112,949.27 29,500.00
Added this Department
Materials 123,250.00 - 123,250.00 32,000.00
Conversion Costs 101,640.00 8,040.00 93,600.00 30,100.00
Total cost to be accounted for 224,890.00 8,040.00 216,850.00
Total cost to be accounted for 382,879.27 53,080.00 329,799.27
Conversion Cost
EUP
2,400.00

1,600.00
28,000.00
500.00
-
30,100.00

Unit Cost
3.828789

3.851563
3.109635
6.961197
10.789986