COST OF PRODUCTION REPORT (WEIGHTED AVERAGE)

COMPLETION RATE
Units Materials Conversion
WIP, beg 5,600 100% 50%
Started-in 74,400
Units Completed 70,000
WIP, end 7,500 100% 1/3

COSTS
Total Materials Conversion
WIP, beg 7,632 6,400.00 1,232.00
Current Month's Cost 106,168 74,400.00 31,768.00
Total Cost to account for 113,800 80,800 33,000

To do: EUP schedule, Weighted Average Cost of Production Report

Units Materials Conversion
EUP schedule
Units Completed 70,000 70,000 70,000
WIP, end 7,500
Materials (100%) 7,500
Conversion (1/3) 2,500

Spoilage
Normal spoilage (3%) - contin 2,100 2,100 2,100
Abnormal Spoilage 400 400 400
EUP 80,000 75,000

Cost per EUP

WIP, beg 6,400.00 1,232.00
Current Month's Cost 74,400.00 31,768.00
Total Cost to account for 80,800 33,000
EUP 80,000 75,000
Equivalent unit cost (EUC) 1.01 0.44 1.45

COST OF PRODUCTION REPORT

Cost of units transferred out

Cost of units completed and transferred out 101,500.00
(70,000*1.45)
 Cost of normal spoilage
(2,100*1.45) 3,045.00
Total cost of units completed and transferred out 104,545.00

Cost of WIP, end Units EUC Total

WIP, end
Materials (100%) 7,500 1.01 7,575.00
Conversion (1/3) 2,500 0.44 1,100.00
Total Cost of WIP, end 8,675.00

Cost of Abnormal Spoilage

(400 units*1.45) 580.00

Total Cost accounted for 113,800.00

Units to account for:
WIP, beg 5,600
Started-in 74,400
80,000
Units accounted for:
Completed 70,000
WIP-end 7,500
77,500

Spoilage 2,500

Note: inspection is at the end of production (100%)

Note: Normal spoilage cost is attached to the units transferred to FGI
Total Cost
DM 750,000.00 WIP
DL 500,000.00 RMI
OH (INCLUDES ALLOW FOR SPOILAGE) 130,000.00 Wages
Total Mfg Cost 1,380,000.00 FOHC
Goods mfd 25,000.00
cost/u 55.20
Spoiled 1,500.00

INTERNAL FAILURE Spoiled goods inventory

SV- P20/u FOHC
WIP

CUSTOMER SPEC

ABNORMAL LOSS
1,380,000.00
750,000.00
500,000.00
130,000.00

30,000.00
52,800.00
82,800.00
Total Cost
DM 750,000.00 WIP 1,380,000.00
DL 500,000.00 RMI 750,000.00
OH 130,000.00 Wages 500,000.00
Total Mfg Cost 1,380,000.00 FOHC 130,000.00
Goods mfd 25,000.00
cost/u 55.20
Spoiled 1,500.00
Good units 23,500.00

INTERNAL FAILURE Spoiled goods inventor 30,000.00

SV- P20/u FOHC 52,800.00
WIP 82,800.00

WIP
1,380,000.00 82,800.00
1,297,200.00
55.20

CUSTOMER SPEC Spoiled goods inventor 30,000.00

WIP 30,000.00

WIP
1,380,000.00 30,000.00
1,350,000.00
57.45

ABNORMAL LOSS Loss from abnormal sp 82,800.00

WIP 82,800.00

DEFECTIVE GOODS
Total Cost
DM 500,000.00 WIP 2,375,000.00
DL 750,000.00 RMI 500,000.00
FOH 1,125,000.00 Wages Payable 750,000.00
Total Mfg Cost 2,375,000.00 FOH 1,125,000.00
cost/u 95.00

Cost to rework
DM (10) 15,000.00
DL (15) 22,500.00
FOH (150% of DL) 33,750.00
Total Cost to RW 71,250.00

NORMAL FAILURE FOH 71,250.00

RMI 15,000.00
Wages 22,500.00
FOH 33,750.00

FG 2,375,000.00
95.00 WIP 2,375,000.00

Customer specification WIP-JOB# 71,250.00

RMI 15,000.00
Wages 22,500.00
FOH 33,750.00

FG 2,446,250.00
97.85 WIP 2,446,250.00

ABNORMAL LOSS Loss from abnormal re 71,250.00

RMI 15,000.00
Wages 22,500.00
FOH 33,750.00

FG 2,375,000.00
95.00 WIP 2,375,000.00

WIP FOH
4000 8,000.00 500.00 3,000.00
1000 1,000.00
2000 600.00
3000 2,100.00
2,000.00 900.00 OA

RMI FG
8000 5,000.00

1000 3000
 COGS
5000 COGS 5,000.00 0.50
WIP 2,000.00 0.20
FG 3,000.00 0.30
5000 (450.00) 10,000.00
4,550.00
FOH 900.00
COGS 450.00
WIP 180.00
FG 270.00

Total Mfg Cost

DM 44,000.00 WIP 121,000.00
DL 39,600.00 DM 44,000.00
OH (17) 37,400.00 W 39,600.00
total mfg cost 121,000.00 FOH 37,400.00
sv (6,000.00)
total cost 115,000.00
2,000.00 Spoiled goods inv 6,000.00
57.50 WIP 6,000.00

total mfg cost 171,000.00

rework
50.00
80.00
128.00
258.00
3,870.00
Total cost + rework 174,870.00
200.00
 874.35

DM 10.00
DL 10.00
OH 10.00
30.00 cost per unit
1,000.00 units produced
30,000.00 total mfg cost
150.00 rework cost
30,150.00 total cost + rework
30.15
WA method
Completed 66,000.00
WIP, end 9,600.00
Normal
Abnormal 2,500.00
EUP 78,100.00

mat cc
beg, wip 25,100.00 50,000.00
current 120,000.00 300,000.00
total 145,100.00 350,000.00
eup
mat 84,500.00 1.72
cc 78,100.00 4.48

EUC eup
MAT 1.75 16,000.00 28000
CC 4.55 9,600.00 43680
71680

% MAT % CC
beg, WIP 14500 - - 25 3625
S&C 51500 100.00 51,500.00 100 51500
end, WIP 16000 100.00 16,000.00 60 9600
normal - -
abnormal 2,500.00 100% 2500
EUP 70,000.00 67,225.00

mat cc
current 120,000.00 300,000.00
euc 1.71 4.46

mat cc total
Beg, WIP 75,100.00
completion of B, WIP 0 17,218.75 17,218.75
SC 77250 244,625.00 321,875.00
414,193.75
units to account for
WIP-beg 6,000
Started 50,000
Total 56,000

units accounted for

Completed 46,000
WIP,end 5,000
Total 51,000
Spoilage 5,000

Started and Compl 40,000

FIFO MATERIALS
MAT CC
% units % units
WIP, beg (20%) 6,000 100% 6,000 80% 4,800
S&C 40,000 100% 40,000 100% 40,000
WIP, end (40%) 5,000 0% - 40% 2,000
Normal 2,000 0% - 60% 1,200
Abnormal 3,000 0% - 60% 1,800
EUP 46,000 49,800

materials are added at 75%

inspection is at 60%

WA MATERIALS
MAT CC
% units % units
S&C 46,000 100% 46,000 100% 46,000
WIP, end (40%) 5,000 0% - 40% 2,000
Normal 2,000 0% - 60% 1,200
Abnormal 3,000 0% - 60% 1,800
EUP 46,000 51,000

materials are added at 75%

inspection is at 60%
units to account for
WIP-beg 6,000 1

FIFO-MAT loss is at the beg

Started 50,000 %
Total 56,000 WIP, beg (20%) 6,000 0%
S&C 40,000 100%
WIP, end (40%) 5,000 100%
units accounted for Normal 2,000 0%
Completed 46,000 Abnormal 3,000 0%
WIP,end 5,000 EUP
Total 51,000
Spoilage 5,000
materials are added at the start
Started and Completed 40,000

FIFO-CC loss is at the beg

%
WIP, beg (20%) 6,000 80%
S&C 40,000 100%
WIP, end (40%) 5,000 40%
Normal 2,000 0%
Abnormal 3,000 0%
EUP
 1 2 3 4
normal-cont; abn
loss is at the beg (50%) loss at 30% loss at 100%
units % units % units % units
- 0% - 0% - 0% -
40,000 100% 40,000 100% 40,000 100% 40,000
5,000 100% 5,000 100% 5,000 100% 5,000
- 0 100% 2,000 100% 2,000
- 100% 3,000 100% 3,000 100% 3,000
45,000 48,000 50,000 50,000

1 2 3 4

normal-cont; abn
loss is at the beg (50%) loss at 30% loss at 100%
units % units % units % units
4,800 80% 4,800 80% 4,800 80% 4,800
40,000 100% 40,000 100% 40,000 100% 40,000
2,000 40% 2,000 40% 2,000 40% 2,000
- 0% - 30% 600 100% 2,000
- 50% 1,500 30% 900 100% 3,000
46,800 48,300 48,300 51,800
units to account for
WIP-beg 6,000 1

WA-MAT loss is at the beg

Started 50,000 %
Total 56,000 Completed 46,000 100%
WIP, end (40%) 5,000 100%
Normal 2,000 0%
units accounted for Abnormal 3,000 0%
Completed 46,000 EUP
WIP,end 5,000
Total 51,000
Spoilage 5,000 materials are added at the start

Started and Completed 40,000

WA-CC loss is at the beg

%
Completed 46,000 100%
WIP, end (40%) 5,000 40%
Normal 2,000 0%
Abnormal 3,000 0%
EUP

GOOD UNITS
GOOD UNITS
 1 2 3 4

loss is at the beg normal-cont; abn (50%) loss at 30% loss at 100%
units % units % units %
46,000 100% 46,000 100% 46,000 100%
5,000 100% 5,000 100% 5,000 100%
- 0% 0 100% 2,000 100%
- 100% 3,000 100% 3,000 100%
51,000 54,000 56,000

1 2 3 4

loss is at the beg normal-cont; abn (50%) loss at 30% loss at 100%

units % units % units %

46,000 100% 46,000 100% 46,000 100%
2,000 40% 2,000 40% 2,000 40%
- 0% - 30% 600 100%
- 50% 1,500 30% 900 100%
48,000 49,500 49,500

absorb normal loss Absorb

absorb normal loss at the at the end of abnormal
start/during production? production? loss?
ABSORBING UNITS
FIFO
WIP,beg X yes X
Started and Completed yes yes X
WIP, end yes X X
WA
Completed YES X
WIP,end YES X
 4

loss at 100%
units
46,000
5,000
2,000
3,000
56,000

loss at 100%

units
46,000
2,000
2,000
3,000
53,000