Problem 1: Chipmunks Co.

Weighted Average
Units
Units to be accounted for: Actual
Units Started 2,000.00
Material A Material B
Units Accounted for as follows: Actual: Actual %Work Done EP %Work Done EP
Completed and Transferred 1,500.00 1.00 1,500.00 1.00 1,500.00
Ending Inventory 500.00 1.00 500.00 0.50 250.00
Totals 2,000.00 2,000.00 1,750.00

Costs
Cost Accounted for:
Cost added this Dept.
Material A
Material B
Conversion Cost
Total Cost to be accounted for:

Cost Accounted for as follows

Completed and transferred (1500*125.135)
Ending Inventory
Material A (500*27.135)
Material B (250*43.4)
Conversion Cost (400*54.6)

FIFO
Units
Units to be accounted for: Actual
Units Started 2,000.00
Material A Material B
Units Accounted for as follows: Actual: Actual %Work Done EP %Work Done EP
Beginning Inventory 700.00 - - 0.70 490.00
Completed and Transferred 800.00 1.00 800.00 1.00 800.00
Ending Inventory 500.00 1.00 500.00 0.50 250.00
Totals 2,000.00 1,300.00 1,540.00

Costs
Cost Accounted for:
Cost from prior period
Cost added this Dept.
Material A
Material B
Conversion Cost
Total Cost to be accounted for:
Cost Accounted for as follows
Cost from prior Period
Completed and transferred (1500*142.51)
Ending Inventory
Material A (500*30.77)
Material B (250*45.45)
Conversion Cost (400*66.28)
Conversion Cost
%Work Done EP
1.00 1,500.00
0.80 400.00
1,900.00

Total Unit Cost

54,270.00 27.14
75,950.00 43.40
103,740.00 54.60
233,960.00 125.14

187,702.50

13,567.50
10,850.00
21,840.00 46,257.50
233,960.00

Conversion Cost
%Work Done EP
0.40 280.00
1.00 800.00
0.80 400.00
1,480.00

Total Unit Cost

25,860.00

40,000.00 30.77
70,000.00 45.45
98,100.00 66.28
233,960.00 142.51
 25,860.00
213,761.34

15,384.62
11,363.64
26,513.51 53,261.77
292,883.11