DM

Molding Added @ Beg

Assembly Added @ End

FIFO - MOLDING

Units to account for:

Beg, WIP 10,000.00
Started in the current month 25,000.00
35,000.00

Units accounted for: DM CC

Beg, WIP 10,000.00 - 6,000.00
Started & completed 20,000.00 20,000.00 20,000.00
Units completed 30,000.00
End WIP 5,000.00 5,000.00 4,000.00
35,000.00 25,000.00 30,000.00

Cost to account for: Total DM CC

Beg WIP 35,800.00 22,000.00 13,800.00
Incurred in the current period 159,750.00 56,250.00 103,500.00
195,550.00 78,250.00 117,300.00

Unit cost 5.70 2.25 3.45

Cost ACcounted For: Total Completed End WIP

Started & completed 114,000.00
Beg WIP:
Cost from prior year 35,800.00
Cost from current year 20,700.00
End WIP
Direct Materials 11,250.00
Conversion cost 13,800.00
195,550.00 170,500.00 25,050.00

Work in process, Molding 56,250.00

Materials inventory 56,250.00
Work in process, Molding 103,500.00
Conversion cost 103,500.00
Work in process, assembly 170,500.00
Work in process, Molding 170,500.00
 DM
Molding Added @ Beg
Assembly Added @ End

FIFO - ASSEMBLY W

Units to account for: Units to account for:

Beg 8,000.00 Beg. Inventories
Trans-in / Units started for the curr 30,000.00 Started in the current period
38,000.00

Units to account for: DM CC Trans-in Units accounted for:

Beg, WIP 8,000.00 8,000.00 4,000.00 - Beg. Inventories
Started & completed 27,000.00 27,000.00 27,000.00 27,000.00 Started & completed
Units completed 35,000.00 Completed / trans-out
End WIP 3,000.00 - 1,500.00 3,000.00 End INventories
38,000.00 35,000.00 32,500.00 30,000.00

Cost to account for: Total DM CC Trans-in

Beg, WIP 62,000.00 - 16,800.00 45,200.00 Cost to account for:
Incurred in the current period 346,550.00 39,550.00 136,500.00 170,500.00 Beg. Inventories
408,550.00 39,550.00 153,300.00 215,700.00 INcurrent in the current peri

Unit Cost 11.01 1.13 4.20 5.68

Unit cost
Cost accounted for: Total Completed End WIP
Started & completed 297,360.00 Cost accounted for:
Beg WIP: Completed
Cost from prior year 62,000.00 EWIP:
Cost from current year 9,040.00 Materials
16,800.00 Conversion cost
End WIP
Trans-in 17,050.00
Conversion cost 6,300.00
408,550.00 385,200.00 23,350.00

Work in process, assembly 39,550.00

Materials inventory 39,550.00
Work in process, assembly 136,500.00
Conversion cost 136,500.00
Finished goods 385,287.00
Work in process, assembly 385,287.00
 WEIGHTED AVE - MOLDING WEIGHTED - ASSEMBLY

Units to account for: Units to account for:

Beg. Inventories 10,000.00 Beg. Inventories
Started in the current period 25,000.00 Started in the current period
35,000.00

Units accounted for: DM CC Units accounted for:

Beg. Inventories 10,000.00 Beg. Inventories
Started & completed 20,000.00 Started & completed
Completed / trans-out 30,000.00 30,000.00 30,000.00 Completed / trans-out
End INventories 5,000.00 5,000.00 4,000.00 End INventories
35,000.00 35,000.00 34,000.00

Cost to account for: Total DM CC Cost to account for:

Beg. Inventories 35,800.00 22,000.00 13,800.00 Beg. Inventories
INcurrent in the current period 159,750.00 56,250.00 103,500.00 INcurrent in the current period
195,550.00 78,250.00 117,300.00

5.69 2.24 3.45 Unit cost

Cost accounted for: Total Transferred out EWIP Cost accounted for:
Completed 170,571.43 Completed
EWIP:
Materials 11,178.57 Conversion cost
Conversion cost 13,800.00 Trans-in
195,550.00 170,571.43 24,978.57
WEIGHTED - ASSEMBLY

8,000.00
30,000.00
38,000.00

DM CC Trans-in
8,000.00
27,000.00
35,000.00 35,000.00 35,000.00 35,000.00
3,000.00 - 1,500.00 3,000.00
38,000.00 35,000.00 36,500.00 38,000.00

Total DM CC Trans-in
62,000.00 - 16,800.00 45,200.00
346,621.43 39,550.00 136,500.00 170,571.43
408,621.43 39,550.00 153,300.00 215,771.43

11.01 1.13 4.20 5.68

Total Transferred out EWIP

385,286.84

6,300.00
17,034.59
408,621.43 385,286.84 23,334.59
Collins Company, which, on April 1, had 6,000 units of WIP in Department B
the second and last stage of its production cycle. The costs attached to these
6,000 units were P 12,000 of costs transferred in from Department A, P2,500 of
material costs added in Department B, and P2,000 of conversion costs added in
Department B. Materials are added at the Beginning of the process in Department
B. Conversion was 50% complete on April 1, During April, 14,000 units were
transferred in from Department A at a cost of P27,000 and material costs of P3,500
and conversion costs of P3,000 were added in Department B. On April 30,
Department B had 5,000 units of WIP, 60% complete as to conversion costs.
The costs attached to these 5,000 units were P 10,500 of costs transferred in from
Department A, P1,800 of material costs added in Department B, and P800 of
conversion costs added in Department B.

Using the weighted average & FIFO method, prepare a production report
(you may refer to healthway problem)
 FIFO METHOD
Unit to account for:
Beg WIP 0.50 6,000.00
Trans-in 14,000.00
20,000.00

UNits accounted for: TRANS-IN DM CC

Beg. WIP 6,000.00 - - 3,000.00
Started & completed 9,000.00 9,000.00 9,000.00 9,000.00
Completed 15,000.00
End WIP 0.60 5,000.00 5,000.00 5,000.00 3,000.00
20,000.00 14,000.00 14,000.00 15,000.00

Cost to account for: Total Trans-in DM CC

Beg WIP 16,500.00 12,000.00 2,500.00 2,000.00
Cost incurred in the current period 33,500.00 27,000.00 3,500.00 3,000.00
50,000.00 39,000.00 6,000.00 5,000.00

Unit Cost: 2.38 1.93 0.25 0.20

Cost accounted for: Total Transferred to FG EWIP

Started & completed 21,407.14
Beg WIP
Cost from prior period 16,500.00
Cost from current period 600.00
EWIP
Trans-in 9,642.86
Direct materials 1,250.00
COnversion cost 600.00
50,000.00 38,507.14 11,492.86
 WEIGHTED AVERAGE METHOD
Unit to account for:
Beg WIP 0.50 6,000.00
Trans-in 14,000.00
20,000.00

UNits accounted for: TRANS-IN DM CC

Completed 15,000.00 15,000.00 15,000.00 15,000.00
End WIP 0.60 5,000.00 5,000.00 5,000.00 3,000.00
20,000.00 20,000.00 20,000.00 18,000.00

Cost to account for: Total Trans-in DM CC

Beg WIP 16,500.00 12,000.00 2,500.00 2,000.00
Cost incurred in the c 33,500.00 27,000.00 3,500.00 3,000.00
50,000.00 39,000.00 6,000.00 5,000.00

Unit Cost: 2.53 1.95 0.30 0.28

Cost accounted for: Total Transferred to FG EWIP

Completed 37,916.67
EWIP
Trans-in 9,750.00
Direct materials 1,500.00
COnversion cost 833.33
50,000.00 37,916.67 12,083.33