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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
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
ASSEMBLY DEPARTMENT
Cost of Production Report
For the month of xx
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
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 79,000
Total Quantity to be Accounted for 169,000
Cost Schedule
Total Cost Equivalent
( c ) Costs to be Accounted For
Transferred In ₱ 677,853 169,000
Materials 232,050 169,000
Conversion Cost 80,200 159,550
Total Costs to be Accounted For ₱ 990,103
1B.)
CLEANING DEPARTMENT
Cost of Production Report
For the month of xx
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
ASSEMBLY DEPARTMENT
Cost of Production Report
For the month of xx
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 355,130 120,000
Materials 99,500 89,000
Conversion Cost 184,000 96,920
Total Costs to be Accounted For ₱ 961,830
FINISHING DEPARTMENT
Cost of Production Report
For the month of xx
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 89,000
Materials 60,050 79,000
Conversion Cost 47,300 96,550
Total Costs to be Accounted For ₱1,240,059
1C.
CLEANING DEPARTMENT
Cost of Production Report
For the month of xx
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
ASSEMBLY DEPARTMENT
Cost of Production Report
For the month of xx
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
FINISHING DEPARTMENT
Cost of Production Report
For the month of xx
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 677,853 79,000
Materials 60,050 79,000
Conversion Cost 47,300 96,550
Total Costs to be Accounted For ₱ 990,103
( d ) Cost Accounted For
Transferred Out
From Beginning WIP Inventory ₱ 204,900
Current Month Costs:
Materials 0 0
Conversion Cost 13,227 27,000
Costs of Completed beg. WIP ₱ 218,127 90,000
Started and Completed - 19,375 -15,500
Total Costs Transferred ₱ 198,752 74,500
Work in Process Ending
Trans-In Costs from Prior Department 677,853 79000
Costs in this Department
Materials 71,832 94,500
Conversion Cost 41,666 85,050
Total 113,498
2.)
Ending Inventory - Average ₱ 551,543.21
Ending Inventory - FIFO ₱ 113,498.09
3.)
Gross Profit - Average
Gross Profit - FIFO
% of Completion FINISHING % of Completion
Mat CC Mat CC
0% 40% 90,000 100% 70%
79,000
74,500
0% 32% 94,500 100% 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
8.58
2.76
₱ 3.38
Unit Costs
₱ 4.01
1.37
0.50
₱ 5.89
₱ 5.89
4.01
1.37
₱ 0.50
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
₱ 8.89
₱ 2.96
₱ 5.98
1.12
1.90
Unit Costs
₱ 10.42
₱ 0.76
0.49
₱ 11.67
₱ 0.76
0.49
2.42
11.67
₱ 0.50
₱ 10.42
₱ 0.76
₱ 0.49
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
8.58
2.76
₱ 3.38
Unit Costs
₱ 8.58
0.76
0.49
₱ 9.83
₱ 0.76
0.49
2.42
1.25
₱ 2.67
₱ 8.58
₱ 0.76
0.49
TOTAL COST
Beginning ₱ 87,000 ₱ 39,800
Add: Incurred 132,000 100,000
₱ 219,000 ₱ 139,800
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
1C.)
CLEANING DEPARTMENT ASSEMBLY DEPARTMENT
EUP MATERIALS CC
Transferred Out 120,000 120,000
TOTAL COST
Beginning ₱ 87,000 ₱ 39,800
Add: Incurred 132,000 100,000
₱ 219,000 ₱ 139,800
₱ 960,990 ₱ 990,103
₱ 960,990 ₱ 990,103
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
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
₱ 960,990
₱ 960,990
FINISHING DEPARTMENT
CC TI
74,500 74,500
85,050 94,500
159,550 169,000
₱ 32,900
47,300
₱ 80,200 ₱ 677,852.54
₱ 80,200 ₱ 677,852.54
159,550 169,000
₱ 0.50 ₱ 4.01
85,050 94,500
₱ 0.50 ₱ 4.01
₱ 42,751.55 ₱ 379,035.89
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
94,500 94,500
100% 90%
94,500 85,050 0
0 27,000 0
-15,500 -15,500 0
94,500 85,050 0
79,000 96,550 -
₱ - ₱ 13,227.34 ₱ 927,809.36
-11,781.96 -7,593.47 ₱ -
172,000 32,900
₱ 160,218.04 ₱ 38,533.87 ₱ 927,809.36 ₱ 1,126,561.27
94,500 85,050 0
₱ 0.76 ₱ 0.49 ₱ 11.74
₱ 71,831.96 ₱ 41,666.13 ₱ -
₱ 1,240,059
₱ 1,240,059
FINISHING DEPARTMENT
MATERIAL CC TI
g Work-In-Process 90,000 90,000
nd Completed
74,500 74,500
rk-In-Process, beginning 90,000 90,000
-15,500 -15,500 0
Work-In-Process
Process, ending 94,500 94,500
Percentage of Completion 100% 90%
94,500 85,050 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 94,500 85,050 0
79,000 96,550 -
₱ 71,831.96 ₱ 41,666.13 ₱ -
₱ 990,103
₱ 990,103