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Problem 1:

( a ) 15% ( b ) 40% ( c ) 100%


Normal 660.00 744.00 678.00
Abnormal 340.00 256.00 322.00
Total 1,000.00 1,000.00 1,000.00
6 2 pts 2 pts 2 pts
Problem 2:
Total In Process Placed in
Cost Beginning Process EUP
Transferred-in 913,000.00 103,625.00 809,375.00 87,500.00
Cost added
Materials 819,000.00 - 819,000.00 87,500.00
Labor 822,000.00 27,500.00 794,500.00 93,125.00
Overhead 795,000.00 25,000.00 770,000.00 93,125.00
Total 2,436,000.00 52,500.00 2,383,500.00
Total 3,349,000.00 156,125.00 3,192,875.00
5 1 pt 1 pt 1 pt 1 pt
Cost assigned to transferred out
1 Cost last month 156,125.00
1 Cost to complete 302,862.50 28,362.50
1 Placed in process and completed 1,883,950.00 113,450.00
1 Cost of normal loss
Total 2,342,937.50

2 Cost assigned to factory overhead

Cost assigned to In Process end


1 Transferred in
1 Materials
1 Labor
1 Overehead
1 Cost of normal loss
Total

Problem 3:
( a ) 30% ( b ) 60% ( c ) 100%
Normal 10,200.00 12,600.00 9,000.00
Abnormal 4,800.00 2,400.00 6,000.00
Total 15,000.00 15,000.00 15,000.00
6 2 pts 2 pts 2 pts

Cost assigned to transferred out


1 Cost last month
1 Cost to complete
1 Placed in process and completed
1 Cost of normal loss
Total
2 Cost assigned to factory overhead

Cost assigned to In Process end


1 Materials
1 Conversion cost
1 Cost of normal loss
Total

Problem 4
Total - FIFO 325,000.00 250,000.00
3 1 pt
Total - WA 355,000.00 325,000.00
3 1 pt
Problem 5
FIFO
a) Cost last month 277,315.00
Cost to Complete 96,200.00
Total cost of completed beginning invty. 373,515.00
4 2 pts

b) IP beginning and completed 373,515.00


Started and completed 2,107,380.00
Total 2,480,895.00
4 2 pts

c) Average cost per gallon 10.209444


2 1 pt

d) Materials 115,855.00
Labor 11,280.00
Overhead 23,829.00
Total 150,964.00
4 2 pts
57
Unit
Cost
9.250000

9.360000
8.531544
8.268456
26.160000 2.269000
35.410000 37.679000
1 pt

156,125.00 1 pt
274,500.00 1 pt
1,770,500.00 1 pt
141,812.50 1 pt
2,342,937.50

85,087.50 2 pts

231,250.00 1 pt
234,000.00 1 pt
202,624.16 1 pt
196,375.84 1 pt
56,725.00 1 pt
920,975.00

166,500.00 1 pt
123,711.34 1 pt
677,010.31 1 pt
73,670.10 1 pt
1,040,891.75
19,645.36 2 pts

60,000.00 1 pt
216,494.85 1 pt
29,468.04 1 pt
305,962.89

271,000.00 258,250.00
1 pt 1 pt
316,000.00 322,000.00
1 pt 1 pt

WA

377,795.58
2 pts

377,795.58
2,103,402.41
2,481,197.99
2 pts

10.210691
1 pt

115,757.12
11,771.74
23,132.15
150,661.01
2 pts
Grand Monde
Cost of Production Report
For the year ended December 31, 2015

Actual Materials Conversion Cost


Qty WD EUP WD EUP
In Process beg 3,000.00 100% 3,000.00 80% 2,400.00
Placed in process 45,000.00
Total 48,000.00

Completed
In Process b 3,000.00 0% - 20% 600.00 1
Placed in pr 37,000.00 100% 37,000.00 100% 37,000.00 1
In Process end 4,000.00 50% 2,000.00 20% 800.00 1
Normal Loss 2,050.00 100% 2,050.00 70% 1,435.00 1
Abnormal Loss 1,950.00 100% 1,950.00 70% 1,365.00 1
Total 48,000.00 43,000.00 41,200.00

Costs charged to the Department


Total In process Current
Costs Beginning Cost EUP Unit Cost
Transferred-in 1,320,000.00 82,200.00 1,237,800.00 45,000.00 27.5066667 1
Added this department
Materials 103,500.00 6,660.00 96,840.00 43,000.00 2.2520930 1
Conversion c 248,520.00 11,930.00 236,590.00 41,200.00 5.7424757 1
Total added 352,020.00 18,590.00 333,430.00 7.9945688 1
1.8715111
Total cost to be 1,672,020.00 100,790.00 1,571,230.00 37.3727465 1

Cost accounted as follows:


Transferred to Packing Department
In Process Beginning
Cost last month 100,790.00
Cost to complete 3,445.49 104,235.49 1
Received and completed 1,382,791.62 2
Total cost transferred 1,487,027.11
In process ending
Transferred-in 110,026.67 1
Materials 4,504.19 1
Conversion costs 4,593.98 119,124.83 1
Factory overhead control 65,868.06 3
Total costs as accounted for 1,672,020.00
19
35.5012354

R and C Normal loss


1,313,545.71 69,245.91
1 1
Grand Monde
Cost of Production Report
For the year ended December 31, 2015

Actual Materials Conversion Cost


Qty WD EUP WD
In Process beg 3,000.00 100% 3,000.00 80%
Placed in process 45,000.00
Total 48,000.00

Transferred to Packing Department


In Process beg 3,000.00 0% - 20%
Placed in process 37,000.00 100% 37,000.00 100%
In Process end 4,000.00 50% 2,000.00 20%
Normal Loss 2,050.00 100% 2,050.00 70%
Abnormal Loss 1,950.00 100% 1,950.00 70%
Total 48,000.00 43,000.00

Costs charged to the Department


Total In process Current
Costs Beginning Cost EUP
Transferred-in 1,320,000.00 82,200.00 1,237,800.00 45,000.00
Added this department
Materials 103,500.00 6,660.00 96,840.00 43,000.00
Conversion costs 248,520.00 11,930.00 236,590.00 41,200.00
Total added 352,020.00 18,590.00 333,430.00

Total cost to be accounted for 1,672,020.00 100,790.00 1,571,230.00

Cost accounted as follows:


Transferred to Packing Department
In Process Beginning
Cost last month 100,790.00
Cost to complete 3,445.49
Received and completed
Total cost transferred
In process ending
Transferred-in 110,026.67
Materials 4,504.19
Conversion costs 4,593.98
Factory overhead control
Total costs as accounted for
Conversion Cost
EUP
2,400.00

600.00 1
37,000.00 1
800.00 1
1,435.00 1
1,365.00 1
41,200.00

Unit Cost
27.5066667 1

2.2520930 1
5.7424757 1
7.9945688 1
1.8715111
37.3727465 1 35.5012354

104,235.49 1 R and C Normal loss


1,382,791.62 2 1,313,545.71 69,245.91
1,487,027.11

1
1
119,124.83 1
65,868.06 3
1,672,020.00
19
IP Beg - 20%
QCI 15%
I
100%

IP end - 70%
Started and Completed

Lost units

Normal 660
Abnormal 340
Total 1000

IP Beg - 20%
QCI - 40%

100%

IP end - 70%
Started and Completed

Lost units

Normal 744
Abnormal 256
Total 1000
QCI - 100%
IP Beg - 20%

100%

IP end - 70%
Started and Completed

Lost units

Normal 678
Abnormal 322
Total 1000
1400

1100
9900

1000
13400

1400

1100
9900

1000
13400

QCI - 100%
1400

1100
9900

1000
13400

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