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  • Small Test 2

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    Kim Chi Le
    7 views26 pages
    The document shows accounting information for work-in-process for multiple periods. It includes physical units and costs for beginning WIP, materials transferred in, units completed and transferred out, and ending WIP. Costs are tracked using different costing methods like FIFO and weighted average. The documents also provide cost per equivalent unit calculations to assign costs to completed units and ending WIP.

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    Small test 2

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    The document shows accounting information for work-in-process for multiple periods. It includes physical units and costs for beginning WIP, materials transferred in, units completed and transferred out, and ending WIP. Costs are tracked using different costing methods like FIFO and weighted average. The documents also provide cost per equivalent unit calculations to assign costs to completed units and ending WIP.

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    © All Rights Reserved
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    7 views26 pages

    Small Test 2

    Uploaded by

    Kim Chi Le
    The document shows accounting information for work-in-process for multiple periods. It includes physical units and costs for beginning WIP, materials transferred in, units completed and transferred out, and ending WIP. Costs are tracked using different costing methods like FIFO and weighted average. The documents also provide cost per equivalent unit calculations to assign costs to completed units and ending WIP.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
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    of 26

    17-31, 32, 39, 40, 41

    FIFO

    Transferred Direct Conversion


    Physical units in costs materials costs
    WIP, beginning 1,260
    Transferred in during
    June 2,880
    To account for 4,140
    Completed and
    transferred out
    From BWIP 1,260 - 1,260 630
    Started and completed 1,980 1,980 1,980 1,980
    WIP, ending 900 900 - 630
    To account for 4,140 2,880 3,240 3,240

    summary total costs


    WIP, beginning $ 120,960 $ 88,200 $ - $ 32,760

    Costs added during June $ 524,376 $ 299,520 $ 56,376 $ 168,480


    Total costs $ 645,336 $ 387,720 $ 56,376 $ 201,240
    Cost per EU 104 17 52

    Assign costs
    Completed and
    transferred out
    BWIP $ 120,960 $ 88,200 $ - $ 32,760
    Costs added to BWIP 54,684 - 21,924 32,760
    Started and completed 343,332 205,920 34,452 102,960
    WIP, ending 126,360 93,600 - 32,760
    Total costs account for 645,336 387,720 56,376 201,240
    398,016
    WACC

    FIFO

    E17-19 Physical units Direct Lobor


    BWIP 100
    Started 500
    to account for 600
    Completed 400 400
    EWIP 200 150

    to account for 600 550


    DL
    BWIP $ 50,000
    Costs added $ 775,000
    Total costs $ 825,000
    Cost per EU $ 1,500

    assign costs
    Completed 600,000
    EWIP 225,000
    to account for 825,000

    E17-20
    Physical units DM Conversion
    Beginning work-in-
    process inventory 16,000
    Started in production
    during May 100,000
    To account for 116,000
    Completed production
    during May 92,000 92,000 92,000
    Ending work-in-process
    inventory 24,000 21,600 9,600
    To account for 116,000 113,600 101,600

    Total costs DM Conversion


    BWIP $ 90,120 $ 54,560 $ 35,560
    Costs added $ 1,042,040 $ 468,000 $ 574,040
    Total costs $ 1,132,160 $ 522,560 $ 609,600
    Costs per EU $ 5 $ 6

    WACC
    FIFO
    WACC

    Transferred in
    Physical units costs Direct materials
    WIP, beginning 1,260
    Transferred in during
    June 2,880
    To account for 4,140
    Completed and
    transferred out 3,240 3,240 3,240
    WIP, ending 900 900 -
    To account for 4,140 4,140 3,240

    summary total costs


    WIP, beginning $ 120,960 $ 88,200 $ -
    Costs added during June $ 524,376 $ 299,520 $ 56,376
    Total costs $ 645,336 $ 387,720 $ 56,376
    Cost per EU 93.65 17.40

    Assign costs
    Completed and
    transferred out 528,289 303,433 56,376
    WIP, ending 117,047 84,287 -
    Total costs account for 645,336 387,720 56,376
    Transferred in
    Physical units costs Direct materials
    WIP, Beginning 7,500
    Started during October 22,500
    To account for 30,000
    Completed during
    October 26,300 26,300 26,300
    WIP, ending 3,700 3,700 -
    To account for 30,000 30,000 26,300

    Summary costs
    WIP, beginning $ 3,767,960 $ 2,932,500 $ -
    Costs added during
    October $ 21,378,100 $ 7,717,500 $ 9,704,700
    Totak costs $ 25,146,060 $ 10,650,000 $ 9,704,700
    Costs per EU 355 369

    Assign cost
    Completed and
    transferred out $ 23,459,600 $ 9,336,500 $ 9,704,700
    WIP, ending $ 1,686,460 $ 1,313,500 $ -
    Total costs account for $ 25,146,060 $ 10,650,000 $ 9,704,700

    Transferred in
    Physical units costs Direct materials
    WIP, beginning 7,500
    Transferred in during
    June 22,500
    To account for 30,000
    Completed and
    transferred out
    From BWIP 7,500 - 7,500
    Started and completed 18,800 18,800 18,800
    WIP, ending 3,700 3,700 -
    To account for 30,000 22,500 26,300

    Transferred in
    Summary total costs Total costs costs Direct materials
    WIP, beginning $ 3,635,460 $ 2,800,000 $ -
    Costs added during
    October $ 21,395,850 $ 7,735,250 $ 9,704,700
    Total costs $ 25,031,310 $ 10,535,250 $ 9,704,700
    Costs per EU 343.79 369

    Assign costs
    Completed and
    transferred out
    WIP, beginning $ 3,635,460 $ 2,800,000 $ -
    From BWIP 3,150,000 - 2,767,500
    Started and completed 16,596,431 6,463,231 6,937,200
    WIP, ending 1,649,419 1,272,019 -
    To account for 25,031,310 10,535,250 9,704,700

    Transferred in
    Physical units costs Direct materials
    WIP, Beginning 7,500
    Started during October 22,500
    To account for 30,000
    Completed during
    October 26,300 26,300 26,300
    WIP, ending 3,700 3,700 -
    To account for 30,000 30,000 26,300

    Summary costs
    WIP, beginning $ 3,767,960 $ 2,932,500 $ -
    Costs added during
    October $ 21,378,100 $ 7,717,500 $ 9,704,700
    Totak costs $ 25,146,060 $ 10,650,000 $ 9,704,700
    Costs per EU 355 369

    Assign cost
    Completed and
    transferred out $ 23,459,600 $ 9,336,500 $ 9,704,700
    WIP, ending $ 1,686,460 $ 1,313,500 $ -
    Total costs account for $ 25,146,060 $ 10,650,000 $ 9,704,700

    Transferred in
    Physical units costs Direct materials
    WIP, beginning 7,500
    Transferred in during
    June 22,500
    To account for 30,000
    Completed and
    transferred out
    From BWIP 7,500 - 7,500
    Started and completed 18,800 18,800 18,800
    WIP, ending 3,700 3,700 -
    To account for 30,000 22,500 26,300

    Transferred in
    Summary total costs Total costs costs Direct materials
    WIP, beginning $ 3,635,460 $ 2,800,000 $ -
    Costs added during
    October $ 21,395,850 $ 7,735,250 $ 9,704,700
    Total costs $ 25,031,310 $ 10,535,250 $ 9,704,700
    Costs per EU 343.79 369

    Assign costs
    Completed and
    transferred out
    WIP, beginning $ 3,635,460 $ 2,800,000 $ -
    From BWIP 3,150,000 - 2,767,500
    Started and completed 16,596,431 6,463,231 6,937,200
    WIP, ending 1,649,419 1,272,019 -
    To account for 25,031,310 10,535,250 9,704,700
    Conversion
    costs

    3,240
    630
    3,870

    $ 32,760
    $ 168,480
    $ 201,240
    52.00

    168,480
    32,760
    201,240
    Conversion
    costs

    26,300
    2,220
    28,520

    $ 835,460

    $ 3,955,900
    $ 4,791,360
    168

    $ 4,418,400
    $ 372,960
    $ 4,791,360

    Conversion
    costs

    2,250
    18,800
    2,220
    23,270

    Conversion
    costs
    $ 835,460

    $ 3,955,900
    $ 4,791,360
    170

    $ 835,460
    382,500
    3,196,000
    377,400
    4,791,360

    Conversion
    costs

    26,300
    2,220
    28,520

    $ 835,460

    $ 3,955,900
    $ 4,791,360
    168

    $ 4,418,400
    $ 372,960
    $ 4,791,360

    Conversion
    costs

    2,250
    18,800
    2,220
    23,270

    Conversion
    costs
    $ 835,460

    $ 3,955,900
    $ 4,791,360
    170

    $ 835,460
    382,500
    3,196,000
    377,400
    4,791,360
    18-20, 21, 23, 25, 26, 35, 36

    1,
    Normal spoilage 6,800
    Abnormal spoilage 5,800
    2,
    138,600
    WACC

    Flow of production Physical units Direct material Conversion


    OWIP 9,000
    Started during the period 27,540
    To account for (input) 36,540
    Good units completed &
    transferred out 25,000 25,000 25,000
    Normal spoilage 3,750 3,750 3,750
    Abnormal spoilage 2,890 2,890 2,890
    CWIP 4,900 4,900 1,470
    To account for (output) 36,540 36,540 33,110

    Flow of production
    OWIP $ 136,126 $ 125,766 $ 10,360
    Costs added during Nov $ 874,170 $ 619,650 $ 254,520
    Total costs $ 1,010,296 $ 745,416 $ 264,880
    Cost per EU $ 20.40 $ 8.00
    Assignment of costs
    Good units completed
    &transferred out 710,000 510,000 200,000
    Normal spoilage 106,500 76,500 30,000
    Total costs of goods
    completed and transferred
    out 816,500
    Abnormal spoilage 82,076 58,956 23,120
    CWIP 111,720 99,960 11,760
    To account for 1,010,296 745,416 264,880
    FIFO
    Flow of production Physical units Direct material Conversion
    OWIP 2,400
    Started during the period 12,000
    To account for (input) 14,400
    Good units completed &
    transferred out
    OWIP 2,400 - 1,200
    Started & completed 8,400 8,400 8,400
    Normal spoilage 1,080 1,080 1,080
    Abnormal spoilage 360 360 360
    CWIP 2,160 2,160 1,620
    To account for (output) 14,400 12,000 12,660

    Flow of production
    OWIP $ 34,572 $ 21,240 $ 13,332
    Costs added during Nov $ 208,968 $ 97,560 $ 111,408
    Total costs $ 243,540 $ 118,800 $ 124,740
    Cost per EU 8.13 8.80

    Assignment of costs
    OWIP $ 34,572 $ 21,240 $ 13,332
    Cost added to OWIP 10,560 - 10,560
    Total from OWIP before
    normal spoilage 45,132
    Started & completed before
    normal spoilage 142,212 68,292 73,920
    Normal spoilage 18,284 8,780 9,504
    Total costs of goods
    completed &transferred out 205,628
    Abnormal spoilage 6,095 2,927 3,168
    CWIP 31,817 17,561 14,256
    To account for 243,540 118,800 124,740

    WACC

    Flow of production Physical units Direct material Conversion


    OWIP 3,600
    Started during the period 30,000
    To account for (input) 33,600
    Good units completed &
    transferred out 24,600 24,600 24,600
    Normal spoilage 2,460 2,460 2,460
    Abnormal spoilage 1,500 1,500 1,500
    CWIP 5,040 5,040 1,512
    To account for (output) 33,600 33,600 30,072

    Flow of production
    OWIP $ 7,269 $ 5,316 $ 1,953
    Costs added during Nov $ 100,159 $ 55,500 $ 44,659
    Total costs $ 107,428 $ 60,816 $ 46,612
    Cost per EU $ 1.81 $ 1.55
    Assignment of costs
    Good units completed
    &transferred out 82,656 44,526 38,130
    Normal spoilage 8,266 4,453 3,813
    Total costs of goods
    completed and transferred
    out 90,922
    Abnormal spoilage 5,040 2,715 2,325
    CWIP 11,466 9,122 2,344
    To account for 107,428 60,816 46,612
    FIFO
    Flow of production Physical units Direct material Conversion
    OWIP 9,000
    Started during the period 27,540
    To account for (input) 36,540
    Good units completed &
    transferred out
    OWIP 9,000 - 5,400
    Started & completed 16,000 16,000 16,000
    Normal spoilage 3,750 3,750 3,750
    Abnormal spoilage 2,890 2,890 2,890
    CWIP 4,900 4,900 1,470
    To account for (output) 36,540 27,540 29,510

    Flow of production
    OWIP $ 136,126 $ 125,766 $ 10,360
    Costs added during Nov $ 874,170 $ 619,650 $ 254,520
    Total costs $ 1,010,296 $ 745,416 $ 264,880
    Cost per EU 22.5 8.6

    Assignment of costs
    OWIP $ 136,126 $ 125,766 $ 10,360
    Cost added to OWIP 46,574 - 46,574
    Total from OWIP before
    normal spoilage 182,700
    Started & completed
    before normal spoilage 497,998 360,000 137,998
    Normal spoilage 116,718 84,375 32,343
    Total costs of goods
    completed &transferred
    out 797,417
    Abnormal spoilage 89,951 65,025 24,926
    CWIP 122,929 110,250 12,679
    To account for 1,010,296 745,416 264,880

    WACC
    Flow of production Physical units Direct material Conversion
    OWIP 2,400
    Started during the period 12,000
    To account for (input) 14,400
    Good units completed &
    transferred out 10,800 10,800 10,800
    Normal spoilage 1,080 1,080 1,080
    Abnormal spoilage 360 360 360
    CWIP 2,160 2,160 1,620
    To account for (output) 14,400 14,400 13,860

    Flow of production
    OWIP $ 34,572 $ 21,240 $ 13,332
    Costs added during Nov $ 208,968 $ 97,560 $ 111,408
    Total costs $ 243,540 $ 118,800 $ 124,740
    Cost per EU $ 8.25 $ 9.00
    Assignment of costs
    Good units completed
    &transferred out 186,300 89,100 97,200
    Normal spoilage 18,630 8,910 9,720
    Total costs of goods
    completed and
    transferred out 204,930
    Abnormal spoilage 6,210 2,970 3,240
    CWIP 32,400 17,820 14,580
    To account for 243,540 118,800 124,740
    FIFO
    Flow of production Physical units Direct material Conversion
    OWIP 3,600
    Started during the period 30,000
    To account for (input) 33,600
    Good units completed &
    transferred out
    OWIP 3,600 - 1,440
    Started & completed 21,000 21,000 21,000
    Normal spoilage 2,460 2,460 2,460
    Abnormal spoilage 1,500 1,500 1,500
    CWIP 5,040 5,040 1,512
    To account for (output) 33,600 30,000 27,912

    Flow of production
    OWIP $ 7,269 $ 5,316 $ 1,953
    Costs added during Nov $ 100,159 $ 55,500 $ 44,659
    Total costs $ 107,428 $ 60,816 $ 46,612
    Cost per EU 1.85 1.60

    Assignment of costs
    OWIP $ 7,269 $ 5,316 $ 1,953
    Cost added to OWIP 2,304 - 2,304
    Total from OWIP before
    normal spoilage 9,573
    Started & completed
    before normal spoilage 72,450 38,850 33,600
    Normal spoilage 8,487 4,551 3,936
    Total costs of goods
    completed &transferred
    out 90,510
    Abnormal spoilage 5,175 2,775 2,400
    CWIP 11,743 9,324 2,419
    To account for 107,428 60,816 46,612
    WACC
    Transferred in Direct
    Flow of production Physical units costs material
    OWIP 12,600
    Started during the period 24,600
    To account for (input) 37,200
    Good units completed &
    transferred out 26,400 26,400 24,600
    Normal spoilage 2,112 2,112 2,112
    Abnormal spoilage 288 288 288
    CWIP 8,400 8,400 -
    To account for (output) 37,200 37,200 27,000

    Flow of production
    OWIP $ 57,173 33,698 $ -
    Costs added during Nov $ 137,527 90,922 $ 5,760
    Total costs $ 194,700 124,620 $ 5,760
    Cost per EU $ 3.35 $ 0.21
    Assignment of costs
    Good units completed
    &transferred out 145,805 88,440 5,248
    Normal spoilage 12,000 7,075 451
    Total costs of goods
    completed and
    transferred out 157,805
    Abnormal spoilage 1,636 965 61
    CWIP 35,258 28,140 -
    To account for 194,700 124,620 5,760
    Conversion

    24,600
    2,112
    288
    3,360
    30,360

    $ 23,475
    $ 40,845
    $ 64,320
    $ 2.12
    52,117
    4,474

    610
    7,118
    64,320

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