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  • Average Units IP Beg. Units Received Units Completed: Requirements #1

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    Raven Dear Mesa
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    This document provides production and cost details for Jerald Mascariola's Requirements #1. It shows that 50,000 units were received, 35,000 were completed, and there are 10,000 units in process and 5,000 units lost. The unit cost is $15.34. Using FIFO, it tracks the 35,000 completed units as coming from the initial 10,000 units in process and 25,000 started and completed units, with a remaining 10,000 units in process.

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    Jerald Bading

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    This document provides production and cost details for Jerald Mascariola's Requirements #1. It shows that 50,000 units were received, 35,000 were completed, and there are 10,000 units in process and 5,000 units lost. The unit cost is $15.34. Using FIFO, it tracks the 35,000 completed units as coming from the initial 10,000 units in process and 25,000 started and completed units, with a remaining 10,000 units in process.

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    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
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    8 views4 pages

    Average Units IP Beg. Units Received Units Completed: Requirements #1

    Uploaded by

    Raven Dear Mesa
    This document provides production and cost details for Jerald Mascariola's Requirements #1. It shows that 50,000 units were received, 35,000 were completed, and there are 10,000 units in process and 5,000 units lost. The unit cost is $15.34. Using FIFO, it tracks the 35,000 completed units as coming from the initial 10,000 units in process and 25,000 started and completed units, with a remaining 10,000 units in process.

    Copyright:

    © All Rights Reserved
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    of 4

    Mascariola, Jerald

    Requirements #1

    Average 10,000.00
    Units IP beg. 40,000.00
    Units Received 50,000.00

    Units Completed 35,000.00 100% 35,000.00 100%


    10,000.00 100% 10,000.00 50%
    5,000.00
    50,000.00 45,000.00

    Unit Cost
    Cost from preceding dept 4.00
    Materials 2.00
    Labor 5.0375
    Overhead 4.30
    15.34

    Completed and transfer (35000*15.3375) 536,812.50

    IP end
    Cost from prec. Dept (10000*4) 40,000.00
    Materials (10000*2) 20,000.00
    Labor (5000*5.0375) 25,187.50
    Overhead (5000*4.30) 21,500.00
    106,687.50 643,500.00
    35,000.00
    5,000.00

    40,000.00
    FIFO METHOD

    Units IP beg 10,000.00


    Units Received 40,000.00
    50,000.00

    Units Completed 35,000.00


    IP beg 10,000.00 1/4
    Started & Completed 25,000.00 100% 25,000.00 100%
    Units TP end 10,000.00 100% 10,000.00 1/2
    Units lost 5,000.00
    50,000.00 35,000.00

    Unit Cost
    IP beg 141,000.00
    From preceding dept. 140,000.00 4.00
    Materials 70,000.00 2.00
    Labor 162,500.00 5.00
    Overhead 130,000.00 4.00
    643,500.00 15.00

    Completed & Transferred 35,000.00


    IP beg
    Cost last month 141,000.00
    Cost added 22,500.00
    Received & Completed 375,000.00
    538,500.00

    IP end
    Cost from prec. Dept 40,000.00
    Materials 20,000.00
    Labor 25,000.00
    Overhead 20,000.00
    105,000.00 643,500.00
    2,500.00
    25,000.00
    5,000.00

    32,500.00

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