1.

)
Inventory (in units) CLEANING % of Completion ASSEMBLY
Mat CC
Work-In-Process, beginning 60,000 0% 25% 25,000
Started / Transferred In 100,000 120,000
Transferred Out 120,000 89,000
Work-In-Process, end 40,000 0% 10% 56,000

Costs
Materials
Beginning 87,000 146,200
Incurred 132,000 99,500

Conversion Costs
Beginning 39,800 177,000
Incurred 100,000 184,000

ANSWERS:

1A.)
CLEANING DEPARTMENT
Cost of Production Report
For the month of xx

Quantity Schedule Units

(a) Quantity to be Accounted For
Work-In-Process, beginning 60,000
Transferred In 100,000
Total Quantity to be Accounted for 160,000

(b) Quantity Accounted For

Transferred Out to the Next Department 120,000
Work-In-Process, ending 40,000
Total Quantity Accounted for 160,000

Cost Schedule
Total Cost Equivalent
( c ) Costs to be Accounted For
Materials ₱ 219,000 120,000
Conversion Cost 139,800 124,000
Total Costs to be Accounted For ₱ 358,800

( d ) Cost Accounted For

Transferred Out ₱ 354,290 120,000
Work-In-Process, end
 Materials 0 0
Conversion Cost 4,510 4000
Total Work-In-Process 4,510

Total Cost Accounted For ₱ 358,800

ASSEMBLY DEPARTMENT
Cost of Production Report
For the month of xx

Quantity Schedule Units

(a) Quantity to be Accounted For
Work-In-Process, beginning 25,000
Transferred In 120,000
Total Quantity to be Accounted for 145,000

(b) Quantity Accounted For

Transferred Out to the Next Department 89,000
Work-In-Process, ending 56,000
Total Quantity Accounted for 145,000

Cost Schedule
Total Cost Equivalent
( c ) Costs to be Accounted For
Transferred In ₱ 354,290 145,000
Materials 245,700 89,000
Conversion Cost 361,000 106,920
Total Costs to be Accounted For ₱ 960,990

( d ) Cost Accounted For

Transferred Out ₱ 763,657 89,000
Work-In-Process, end
Cost from Prior Dept. 136,829 56,000
Materials 0 0
Conversion Cost 60,504 17,920
Total Work-In-Process 60,504

Total Cost Accounted For ₱ 960,990

FINISHING DEPARTMENT
Cost of Production Report
For the month of xx

Quantity Schedule Units

(a) Quantity to be Accounted For
 Work-In-Process, beginning 90,000
Transferred In 89,000
Total Quantity to be Accounted for 179,000

(b) Quantity Accounted For

Transferred Out to the Next Department 74,500
Work-In-Process, ending 104,500
Total Quantity Accounted for 179,000

Cost Schedule
Total Cost Equivalent
( c ) Costs to be Accounted For
Transferred In ₱ 763,657 179,000
Materials 232,050 179,000
Conversion Cost 80,200 168,550
Total Costs to be Accounted For ₱1,075,907

( d ) Cost Accounted For

Transferred Out ₱ 449,863 74,500
Work-In-Process, end
Cost from Prior Dept. 445,822 104,500
Materials 135,471 104,500
Conversion Cost 44,751 94,050
Total Work-In-Process 626,044

Total Cost Accounted For ₱1,075,907

1B.)
CLEANING DEPARTMENT
Cost of Production Report
For the month of xx

Quantity Schedule Units

(a) Quantity to be Accounted For
Work-In-Process, beginning 60,000
Transferred In 100,000
Total Quantity to be Accounted for 160,000

(b) Quantity Accounted For

Transferred Out to the Next Department
From Beginning Work-In-Process 60,000
Started and Completed 60,000 120,000
Work-In-Process, ending 40,000
Total Quantity Accounted for 160,000
Cost Schedule
Total Cost Equivalent
( c ) Costs to be Accounted For
Work-In-Process, beginning ₱ 126,800
Costs Incurred in Current Month
Materials 132,000 120,000
Conversion Cost 100,000 109,000
Total Costs to be Accounted For ₱ 358,800

( d ) Cost Accounted For

Transferred Out
From Beginning WIP Inventory ₱ 126,800
Current Month Costs:
Materials 66,000 60,000
Conversion Cost 41,284 45,000
Costs of Completed beg. WIP ₱ 234,084 60,000
Started and Completed 121,046 60,000
Total Costs Transferred ₱ 355,130 120,000
Work in Process Ending
Costs in this Department
Materials - 0
Conversion Cost 3,670 4,000
Total 3,670

Total Costs Accounted For ₱ 358,800

ASSEMBLY DEPARTMENT
Cost of Production Report
For the month of xx

Quantity Schedule Units

(a) Quantity to be Accounted For
Work-In-Process, beginning 25,000
Transferred In 120,000
Total Quantity to be Accounted for 145,000

(b) Quantity Accounted For

Transferred Out to the Next Department
From Beginning Work-In-Process 25,000
Started and Completed 64,000 89,000
Work-In-Process, ending 56,000
Total Quantity Accounted for 145,000
Cost Schedule
Total Cost Equivalent
( c ) Costs to be Accounted For
Work-In-Process, beginning ₱ 323,200
Costs Incurred in Current Month
Trans-In Costs from Prior Department 355,130 74,500
Materials 99,500 89,000
Conversion Cost 184,000 96,920
Total Costs to be Accounted For ₱ 961,830

( d ) Cost Accounted For

Transferred Out
From Beginning WIP Inventory ₱ 323,200
Current Month Costs:
Materials 27,949 25,000
Conversion Cost 28,477 15,000
Costs of Completed beg. WIP ₱ 379,627 25,000
Started and Completed 382,456 64,000
Total Costs of Transferred Out ₱ 762,082 89,000
Work-in-Process, Ending
Trans-In Costs from Prior Department 165,727 56,000
Costs in this Department
Materials - 0
Conversion Cost 34,021 17,920
Total 34,021

Total Costs Accounted For ₱ 961,830

FINISHING DEPARTMENT
Cost of Production Report
For the month of xx

Quantity Schedule Units

(a) Quantity to be Accounted For
Work-In-Process, beginning 90,000
Transferred In 89,000
Total Quantity to be Accounted for 179,000

(b) Quantity Accounted For

Transferred Out to the Next Department
From Beginning Work-In-Process 90,000
Started and Completed -15,500 74,500
Work-In-Process, ending 104,500
Total Quantity Accounted for 179,000
Cost Schedule
Total Cost Equivalent
( c ) Costs to be Accounted For
Work-In-Process, beginning ₱ 204,900
Costs Incurred in Current Month
Trans-In Costs from Prior Department 927,809
Materials 60,050 89,000
Conversion Cost 47,300 105,550
Total Costs to be Accounted For ₱1,240,059

( d ) Cost Accounted For

Transferred Out ₱ 204,900
From Beginning WIP Inventory
Current Month Costs:
Materials 0 0
Conversion Cost 12,099 27,000
Costs of Completed beg. WIP ₱ 216,999 90,000
Started and Completed - 210,438 -15,500
Total Costs Transferred ₱ 6,561 74,500
Work in Process Ending
Trans-In Costs from Prior Department 927,809
Costs in this Department
Materials 70,508 104,500
Conversion Cost 42,147 94,050
Total 112,655

Total Costs Accounted For ₱1,047,025

1C.
CLEANING DEPARTMENT
Cost of Production Report
For the month of xx

Quantity Schedule Units

(a) Quantity to be Accounted For
Work-In-Process, beginning 60,000
Transferred
Total In to be Accounted
Quantity 100,000
for 160,000

(b) Quantity Accounted

Transferred Out to For
the Next
Department 120,000
Work-In-Process, ending 40,000
Total Quantity Accounted for 160,000
Cost Schedule
Total Cost Equivalent
( c ) Costs to be Accounted For
Materials ₱ 219,000 120,000
Conversion Cost to be
Total Costs 139,800 124,000
Accounted For ₱ 358,800

( d ) Cost Accounted For

Transferred Out ₱ 354,290 ₱ 120,000
Work-In-Process, end
Materials 0 -
Conversion Cost 4,510 4,000
Total Work-In-Process ₱ 4,510

Total Cost Accounted For ₱ 358,800

ASSEMBLY DEPARTMENT
Cost of Production Report
For the month of xx

Quantity Schedule Units

(a) Quantity to be Accounted For
Work-In-Process, beginning 25,000
Transferred In 120,000
Total Quantity to be Accounted for 145,000

(b) Quantity Accounted For

Transferred Out to the Next Department 89,000
Work-In-Process, ending 56,000
Total Quantity Accounted for 145,000

Cost Schedule
Total Cost Equivalent
( c ) Costs to be Accounted For
Transferred In ₱ 354,290 145,000
Materials 245,700 89,000
Conversion Cost 361,000 106,920
Total Costs to be Accounted For ₱ 960,990

( d ) Cost Accounted For

Transferred Out ₱ 763,657 89,000
Work-In-Process, end
Cost from Prior Dept. 136,829 56,000
Materials 0 0
 Conversion Cost 60,504 17,920
Total Work-In-Process ₱ 60,504

Total Cost Accounted For ₱ 960,990

FINISHING DEPARTMENT
Cost of Production Report
For the month of xx

Quantity Schedule Units

(a) Quantity to be Accounted For
Work-In-Process, beginning 90,000
Transferred In 89,000
Total Quantity to be Accounted for 179,000

(b) Quantity Accounted For

Transferred Out to the Next Department
From Beginning Work-In-Process 90,000
Started and Completed -15,500 74,500
Work-In-Process, ending 104,500
Total Quantity Accounted for 179,000

Cost Schedule
Total Cost Equivalent
( c ) Costs to be Accounted For
Work-In-Process, beginning ₱ 204,900
Costs Incurred in Current Month
Trans-In Costs from Prior Department 763,657 89,000
Materials 60,050 89,000
Conversion Cost 47,300 105,550
Total Costs to be Accounted For ₱1,075,907

( d ) Cost Accounted For

Transferred Out
From Beginning WIP Inventory ₱ 204,900
Current Month Costs:
Materials 0 0
Conversion Cost 12,099 27,000
Costs of Completed beg. WIP ₱ 216,999 60,000
Started and Completed - 17,404 -15,500
Total Costs Transferred ₱ 199,595 44,500
Work in Process Ending
Trans-In Costs from Prior Department 763,657
Costs in this Department
Materials 70,508 104,500
 Conversion Cost 42,147 94,050
Total 112,655

Total Costs Accounted For ₱1,075,907

2.)
Ending Inventory - Average ₱ 626,043.60
Ending Inventory - FIFO ₱ 112,654.66

3.)
Gross Profit - Average
Gross Profit - FIFO
 % of Completion FINISHING % of Completion
Mat CC Mat CC
0% 40% 90,000 100% 70%
89,000
74,500
0% 32% 104,500 100% 90%

172,000
60,050

32,900
47,300

Unit Costs

₱ 1.83
1.13
₱ 2.95

₱ 2.95
 1.83
₱ 1.13

Unit Costs

₱ 2.44
2.76
₱ 3.38
₱ 8.58

₱ 8.58

2.44
2.76
₱ 3.38
Unit Costs

₱ 4.27
1.30
0.48
₱ 6.04

₱ 6.04

4.27
1.30
₱ 0.48
Unit Costs

₱ 1.10
0.92
₱ 2.02

₱ 1.10
₱ 0.92
₱ 3.90
₱ 2.02
₱ 2.96

₱ 1.10
0.92
Unit Costs

₱ 2.96
1.12
1.90
₱ 5.98

₱ 1.12
1.90
₱ 15.19
5.98
₱ 8.56

₱ 2.96

1.12
1.90
Unit Costs

₱ 12.45
₱ 0.67
0.45
₱ 13.58

₱ 0.67
0.45
2.41
13.58
₱ 0.09

₱ 0.67
₱ 0.45
Unit Costs

₱ 1.83
1.13
₱ 2.95

₱ 2.95

1.83
1.13

Unit Costs

₱ 2.44
2.76
3.38
₱ 8.58

₱ 8.58

2.44
2.76
₱ 3.38

Unit Costs

₱ 8.58
0.67
0.45
₱ 9.70

₱ 0.67
0.45
3.62
1.12
₱ 4.49

₱ 0.67
0.45

Net Sales ₱ 44,700,000

Less: COGS 449,863
Gross Profit ₱ 44,250,137

Net Sales ₱ 41,400,000

Less: COGS
Gross Profit
 SOLUTION:
1A.)
CLEANING DEPARTMENT
EUP MATERIALS CC
Transferred Out 120,000 120,000
Add: Work-In-Process, end 0 4,000
120,000 124,000

TOTAL COST
Beginning ₱ 87,000 ₱ 39,800
Add: Incurred 132,000 100,000
₱ 219,000 ₱ 139,800

COST PER UNIT

Total Cost ₱ 219,000 ₱ 139,800
Divide: EUP 120,000 124,000
₱ 1.83 ₱ 1.13

TOTAL COST OF UNITS TRANSFERRED OUT

Transferred Out 120,000
Multiply: Σ of Cost per Units ₱ 2.95
₱ 354,290.32

TOTAL COST OF ENDING WORK-IN-PROCESS

Work-In-Process, end 0 4000
Multiply: Cost per Unit ₱ 1.83 ₱ 1.13
₱ - ₱ 4,509.68

Total Cost Accounted For ₱ 358,800

Total Cost to be Accounted For ₱ 358,800

1B.)
CLEANING DEPARTMENT
Beginning Work-In-Process MATERIAL CC
Work-In-Process, beginning 60,000 60,000
Multiply: 100%-% of Completion 100% 75%
60,000 45,000
Started and Completed
Transferred Out 120,000 120,000
Less: Work-In-Process, beginning 60,000 60,000
60,000 60,000
Ending Work-In-Process
Work-In-Process, ending 40,000 40,000
Multiply: Percentage of Completion 0% 10%
0 4,000
EQUIVALENT UNIT OF PRODUCTION
Beginning Work-In-Process 60,000 45,000
Add: Started and Completed 60,000 60,000
Ending Work-In-Process 0 4,000
120,000 109,000

TOTAL COST ₱ 132,000 ₱ 100,000

COST PER UNIT

Total Cost ₱ 132,000 ₱ 100,000
EUP 120,000 109,000
₱ 1.10 ₱ 0.92

TOTAL COST OF UNITS TRANSFERRED OUT

Beginning Work-In-Process * CPU ₱ 66,000 ₱ 41,284.40
Started and Completed * CPU 66,000 55,045.87
Beginning Cost 87,000 39,800
₱ 219,000 ₱ 136,130.28

TOTAL COST OF ENDING WORK-IN-PROCESS

Work-In-Process, end 0 4,000

CPU ₱ 1.10 ₱ 0.92
₱ - ₱ 3,669.72

Total Cost Accounted For ₱ 358,800

Total Cost to be Accounted For ₱ 358,800

1C.)
CLEANING DEPARTMENT ASSEMBLY DEPARTMENT
EUP MATERIALS CC
Transferred Out 120,000 120,000
Add: Work-In-Process, end 0 4000
120000 124000

TOTAL COST
Beginning ₱ 87,000 ₱ 39,800
Add: Incurred 132,000 100,000
₱ 219,000 ₱ 139,800
COST PER UNIT
Total Cost ₱ 219,000 ₱ 139,800
Divide: EUP 120,000 124,000
₱ 1.83 ₱ 1.13

TOTAL COST OF UNITS TRANSFERRED OUT

Transferred Out 120000
Multiply: Σ of Cost per Units ₱ 2.95
₱ 354,290.32

TOTAL COST OF ENDING WORK-IN-PROCESS

Work-In-Process, end 0 4000
Multiply: Cost per Unit ₱ 1.83 ₱ 1.13
₱ - ₱ 4,509.68

Total Cost Accounted For ₱ 358,800

Total Cost to be Accounted For ₱ 358,800

 ASSEMBLY DEPARTMENT FINISHING DEPA
MATERIALS CC TI MATERIALS
89,000 89,000 89,000 74,500
0 17,920 56,000 104,500
89,000 106,920 145,000 179,000

₱ 146,200 ₱ 177,000 ₱ 172,000

99,500 184,000 60,050
₱ 245,700 ₱ 361,000 ₱ 354,290 ₱ 232,050

₱ 245,700 ₱ 361,000 ₱ 354,290 ₱ 232,050

89,000 106,920 145,000 179,000
₱ 2.76 ₱ 3.38 ₱ 2.44 ₱ 1.30

89,000 74,500
₱ 8.58 ₱ 6.04
₱ 763,656.65 ₱ 449,863.05

0 17,920 56,000 104,500

₱ 2.76 ₱ 3.38 ₱ 2.44 ₱ 1.30
₱ - ₱ 60,504.30 ₱ 136,829.37 ₱ 135,470.53

₱ 960,990 ₱ 1,075,907

₱ 960,990 ₱ 1,075,907

ASSEMBLY DEPARTMENT
MATERIAL CC TI
25,000 25,000
100% 60%
25,000 15,000 0

89,000 89,000
25,000 25,000
64,000 64,000 0

56,000 56,000
 0% 32%
0 17,920 0

25,000 15,000 0
64,000 64,000 0
0 17,920 0
89,000 96,920 0

₱ 99,500 ₱ 184,000 ₱ 355,130

₱ 99,500 ₱ 184,000 ₱ 355,130

89,000 96,920 120,000
₱ 1.12 ₱ 1.90 ₱ 2.96

₱ 27,949.44 ₱ 28,477.09 ₱ 355,130.00

71,550.56 121,502.27 0.00
146,200 177,000
₱ 245,700.00 ₱ 326,979.36 ₱ 355,130.00

0 17,920 0
₱ 1.12 ₱ 1.90 ₱ 2.96
₱ - ₱ 34,020.64 ₱ -

₱ 961,830

₱ 961,830

ASSEMBLY DEPARTMENT
MATERIALS CC TI
89,000 89,000 89,000 Beginning Work-In-Process
0 17,920 56,000 Work-In-Process, beginning
89,000 106,920 145,000 Multiply: 100%-% of Completion

Started and Completed

₱ 146,200 ₱ 177,000 Transferred Out
99,500 184,000 Less: Work-In-Process, beginning
₱ 245,700 ₱ 361,000 ₱ 354,290
 Ending Work-In-Process
Work-In-Process, ending
₱ 245,700 ₱ 361,000 ₱ 354,290 Multiply: Percentage of Completio
89,000 106,920 145,000
₱ 2.76 ₱ 3.38 ₱ 2.44 EQUIVALENT UNIT OF PRODU
Beginning Work-In-Process
Add: Started and Completed
89,000 Ending Work-In-Process
₱ 8.58
₱ 763,656.65
TOTAL COST

0 17,920 56,000 COST PER UNIT

₱ 2.76 ₱ 3.38 ₱ 2.44 Total Cost
₱ - ₱ 60,504.30 ₱ 136,829.37 EUP

TOTAL COST OF UNITS TRANS

Beginning Work-In-Process * CPU
Started and Completed * CPU
Beginning Cost

TOTAL COST OF ENDING WOR

Work-In-Process, end
CPU

₱ 960,990

₱ 960,990
FINISHING DEPARTMENT
CC TI
74,500 74,500
94,050 104,500
168,550 179,000

₱ 32,900
47,300
₱ 80,200 ₱ 763,656.65

₱ 80,200 ₱ 763,656.65
168,550 179,000
₱ 0.48 ₱ 4.27

94,050 104,500
₱ 0.48 ₱ 4.27
₱ 44,751.17 ₱ 445,821.90

FINISHING DEPARTMENT
MATERIAL CC TI
90,000 90,000
0% 30%
0 27,000 0

74,500 74,500
90,000 90,000
-15,500 -15,500 0

104,500 104,500
 100% 90%
104,500 94,050 0

0 27,000 0
-15,500 -15,500 0
104,500 94,050 0
89,000 105,550 -

₱ 60,050 ₱ 47,300 ₱ 927,809.36

₱ 60,050 ₱ 47,300 ₱ 927,809

89,000 105,550 74,500
₱ 0.67 ₱ 0.45 ₱ 12.45

₱ - ₱ 12,099.48 ₱ 927,809.36
-10,458.15 -6,946.00 ₱ -
172,000 32,900
₱ 161,541.85 ₱ 38,053.48 ₱ 927,809.36

104,500 94,050 0
₱ 0.67 ₱ 0.45 ₱ 12.45
₱ 70,508.15 ₱ 42,146.52 ₱ -

₱ 1,240,059

₱ 1,240,059

FINISHING DEPARTMENT
MATERIAL CC TI
g Work-In-Process 90,000 90,000
Process, beginning 0% 30%
100%-% of Completion 0 27,000 0

nd Completed
74,500 74,500
rk-In-Process, beginning 90,000 90,000
-15,500 -15,500 0
Work-In-Process
Process, ending 104,500 104,500
Percentage of Completion 100% 90%
104,500 94,050 0
LENT UNIT OF PRODUCTION
g Work-In-Process 0 27,000 0
rted and Completed -15,500 -15,500 0
ing Work-In-Process 104,500 94,050 0
89,000 105,550 -

₱ 60,050 ₱ 47,300 ₱ 763,656.65

₱60,050 ₱47,300 ₱ 763,656.65

89,000 105,550 89,000
₱ 0.67 ₱ 0.45 ₱ 8.58

COST OF UNITS TRANSFERRED OUT

g Work-In-Process * CPU ₱ - ₱ 12,099.48 ₱ 763,656.65
nd Completed * CPU -10,458.15 -6,946.00 ₱ -
172,000 32,900
₱ 161,541.85 ₱ 38,053.48 ₱ 763,656.65

COST OF ENDING WORK-IN-PROCESS

Process, end 104,500 94,050 0
₱ 0.67 ₱ 0.45 ₱ 8.58
₱ 70,508.15 ₱ 42,146.52 ₱ -

₱ 1,075,907

₱ 1,075,907