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  • Production Report (INITIAL) : Quantity

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    Adan Eve
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    The document contains production reports for an initial and subsequent period. It provides beginning and ending work in process (WIP) quantities and stage of completion percentages. It also includes current month costs for materials, labor, and overhead for both periods. Equivalent units of production and unit costs are computed for the initial department and then the subsequent department.

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    Fifo Method

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    The document contains production reports for an initial and subsequent period. It provides beginning and ending work in process (WIP) quantities and stage of completion percentages. It also includes current month costs for materials, labor, and overhead for both periods. Equivalent units of production and unit costs are computed for the initial department and then the subsequent department.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    28 views3 pages

    Production Report (INITIAL) : Quantity

    Uploaded by

    Adan Eve
    The document contains production reports for an initial and subsequent period. It provides beginning and ending work in process (WIP) quantities and stage of completion percentages. It also includes current month costs for materials, labor, and overhead for both periods. Equivalent units of production and unit costs are computed for the initial department and then the subsequent department.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 3

    Production Report (INITIAL)

    Quantity
    WIP- Beginning 3,760
    Started and Completed 5,840
    WIP- Ending 5,320

    Stage of Completion Beginning Ending


    Materials 100% 0% 100%
    Labor 40% 60% 40%
    Overhead 55% 45% 55%

    Production Report (SUBSEQUENT)


    Quantity
    WIP- Beginning 970
    Started and Completed 8,500
    WIP- Ending 1,100

    Stage of Completion Beginning Ending


    Trans. In Cost 100% 0% 100%
    Materials 60% 40% 55%
    Labor 60% 40% 55%
    Overhead 60% 40% 55%

    CURRENT MONTH COSTS (INITIAL)


    MATERIALS 69,944
    LABOR 82,416
    OVERHEAD 133,886

    CURRENT MONTH COSTS (SUBSEQUENT)


    MATERIALS 69,944
    LABOR 82,416
    OVERHEAD 133,886
    INITIAL DEPARTMENT
    EQUIVALENT UNITS OF PRODUCTION COMPUTATION

    MATERIALS
    TRANSFERRED OUT TO NEXT DEPARTMENT
    WIP-BEG. -
    STARTED AND COMPLETED 5,840
    WIP-END 5,320
    EU 11,160

    LABOR
    TRANSFERRED OUT TO NEXT DEPARTMENT
    WIP-BEG. 2,256
    STARTED AND COMPLETED 5,840
    WIP-END 2,128
    EU 10,224

    OVERHEAD
    TRANSFERRED OUT TO NEXT DEPARTMENT
    WIP-BEG. 1,692
    STARTED AND COMPLETED 5,840
    WIP-END 2,926
    EU 10,458

    UNIT COSTS COMPUTATION


    MATERIALS 6.26738
    LABOR 8.06103
    OVERHEAD 12.80226
    SUBSEQUENT DEPARTMENT
    EQUIVALENT UNITS OF PRODUCTION COMPUTATION

    TRANSFERRED IN COST FR. PRIOR DEPT.


    TRANSFERRED OUT TO NEXT DEPARTMENT
    WIP-BEG. -
    STARTED AND COMPLETED 8,500
    WIP-END 1,100
    EU 9,600

    MATERIALS
    TRANSFERRED OUT TO NEXT DEPARTMENT
    WIP-BEG. 388
    STARTED AND COMPLETED 8,500
    WIP-END 605
    EU 9,493

    LABOR
    TRANSFERRED OUT TO NEXT DEPARTMENT
    WIP-BEG. 388
    STARTED AND COMPLETED 8,500
    WIP-END 605
    EU 9,493

    OVERHEAD
    TRANSFERRED OUT TO NEXT DEPARTMENT
    WIP-BEG. 388
    STARTED AND COMPLETED 8,500
    WIP-END 605
    EU 9,493

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