RECKLONVILLE COMPANY

RECKLONVILLE COMPANY
Cost of Production Report
For the Period Ended February 28, 2022
(Department 1)

Quantity Schedule: Actual WD Materials WD Con

Started 32,000
Less: By-product 2,000
Total units to be accounted for 30,000

Finished & Transferred to P2 10,000 100% 10,000 100% 10,000

Finished & Transferred to P3 20,000 100% 20,000 100% 20,000

Total quantity accounted for 30,000 30,000 30,000

Cost Analysis: Total Cost Unit Cost

Materials Php58,000.00
Conversion 30,000.00

Total Php88,000.00
Less:: Market value of BP (2,000 X P2) 4,000.00

Total Cost to be Accounted For Php84,000

Cost Accounted For:

Finished and transferred:
P2 (per schedule) Php21,000.00
P3 (per schedule) 63,000.00

-
Cost accounted for Php84,000

R2: Journal Entries:

1) By-Product or By-Product Inventory P 4,000
Work in Process - P2 21,000
Work in Process - P3 63,000
Work in Process - P1 P 88,000

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 RECKLONVILLE COMPANY

2) Finished Goods P 36,600

Work in Process - P2 P 36,600

3) Finished Goods P 127,868

Work in Process - P3 P 127,868

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 RECKLONVILLE COMPANY

RECKLONVILLE COMPANY
Cost of Production Report
For the Period Ended February 28, 2022
(Department 2)

Quantity Schedule: Actual WD

Beg. 3,000
Received 10,000
Total units to be accounted for 13,000

Beg. - Finished & Transferred 3,000 2/3

Received - Finished & Transferred 6,000 100%
End 4,000 1/4

Total quantity accounted for 13,000

Cost Analysis: Total Cost

Conversion Php18,000.00
Add: CFPD Php21,000.00
WP-beg. 8,000.00 29,000.00

Total Cost to be Accounted For Php47,000

Cost Accounted For:

Finished and transferred:
Work in Process, Beg.
Cost last month Php8,000
Cost this month:
Conversaion 2,000 2 4,000
Received 6,000 4.10
Total cost transferred to "BODEGA"
WP-end.:
Cost from preceding dept. 4,000 2.10 Php8,400
Cost this department:
Conversion 1,000 2.00 2,000

Cost accounted for

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 RECKLONVILLE COMPANY

RECKLONVILLE COMPANY
Cost of Production Report
For the Period Ended February 28, 2022
(Department 3)

Con Quantity Schedule: Actual WD

Beg. 3,000
Received 20,000
Total units to be accounted for 23,000

2,000 Beg. - Finished & Transferred 3,000 2/3

6,000 Received - Finished & Transferred 17,000 100%
1,000 End 2,000 1/2
Normal lost units (during) 1,000 0%
9,000 Total quantity accounted for 23,000

Unit Cost Cost Analysis: Total Cost

Php2.00 Conversion Php60,000.00
2.10 Add: CFPD Php63,000.00
WP-beg. 14,500.00 77,500.00
Adjustment for lost units:
(1,000 x P3.15) 3,150 19,000

Php4.10 Total Cost to be Accounted For Php137,500

Cost Accounted For:

Finished and transferred:
Work in Process, Beg.
Cost last month Php14,500
Cost this month:
Php12,000 Conversaion 2,000 3 6,000
24,600 Received 17,000 6.315789
Php36,600 Total cost transferred to "BODEGA"
WP-end.:
Cost from preceding dept. 2,000 3.15 Php6,300
Cost this department:
10,400 Conversion 1,000 3.00 3,000
Adjustment for lost units 2,000 0.165789 332
Php47,000 Cost accounted for

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 RECKLONVILLE COMPANY

Con

2,000
17,000
1,000
-
20,000

Unit Cost
Php3.000000
3.150000

0.165789

Php6.315789

Php20,500
107,368
Php127,868

9,632
Php137,500

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SUPERIOR CHEMICAL MANUFACTURING COMPANY

Cost of Production Report
For the Period Ended March 31, 2022
(Department 3)

Quantity Schedule: Actual WD Materials WD

Beg. 4,000
Received 36,000
Total units to be accounted for 40,000

Beginning, Finished & Transferred 4,000 0% - 75%

Received, Finished & Transferred 32,000 0% - 100%
End 3,000 0% - 1/3
Normal Lost Units (END) 1,000 0% - 100%
Total quantity accounted for 40,000 -

Cost Analysis: Total Cost

Materials Php0.00
Labor 33,120.00
Overhead 19,440.00
Total Php52,560.00
Add: Cost from preceding department: Php126,000.00
Work in Process, Beg. 15,860.00 141,860
Adjustment for lost units:
[(1,000 x P3.50) + (1,000 X P1.4205)]/36,000 =
Total Cost to be Accounted For Php194,420

Cost Accounted For:

Finished and transferred:
Work in Process, Beg.
Cost last month Php15,860
Cost this month:
Conversaion 3,000 1.42054 4,261
Adjustment for lost units: 4,000 0.13668 547
Received 32,000 5.06
Total cost transferred to "BODEGA"
WP-end.:
Cost from preceding dept. 3,000 3.50 Php10,500
Cost this department:
Conversion 1,000 1.42 1,421

Cost accounted for

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Con

3,000
32,000
1,000
1,000
37,000

Unit Cost
Php0.0000
0.895135
0.525405
Php1.420541
3.500000

0.136682
Php5.057223

Php20,668
161,831
Php182,499

11,921
Php194,420

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SUPERIOR CHEMICAL MANUFACTURING COMPANY

Cost of Production Report
For the Period Ended March 31, 2022
(Department 3)

Quantity Schedule: Actual WD Materials WD

Beg. 4,000
Received 36,000
Total units to be accounted for 40,000

Beginning, Finished & Transferred 4,000 0% - 75%

Received, Finished & Transferred 32,000 0% - 100%
End 3,000 0% - 1/3
Normal Lost Units (60%) 1,000 0% - 60%
Total quantity accounted for 40,000 -

Cost Analysis: Total Cost

Materials Php0.00
Labor 33,120.00
Overhead 19,440.00
Total Php52,560.00
Add: Cost from preceding department: Php126,000.00
Work in Process, Beg. 15,860.00 141,860
Adjustment for lost units:
[(1,000 x P3.50) + (600 X P1.436066)]/36,000 =
Total Cost to be Accounted For Php194,420

Cost Accounted For:

Finished and transferred:
Work in Process, Beg.
Cost last month Php15,860
Cost this month:
Conversaion 3,000 1.43607 4,308
Adjustment for lost units: 4,000 0.12116 485
Received 32,000 5.06
Total cost transferred to "BODEGA"
WP-end.:
Cost from preceding dept. 3,000 3.50 Php10,500
Cost this department:
Conversion 1,000 1.44 1,436

Cost accounted for

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Con

3,000
32,000
1,000
600
36,600

Unit Cost
Php0.0000
0.904918
0.531148
Php1.436066
3.500000

0.121157
Php5.057223

Php20,653
161,831
Php182,484

11,936

Php194,420

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SUPERIOR CHEMICAL MANUFACTURING COMPANY

Cost of Production Report
For the Period Ended March 31, 2022
(Department 3)

Quantity Schedule: Actual WD Materials WD

Beg. 4,000
Received 36,000
Total units to be accounted for 40,000

Beginning, Finished & Transferred 4,000 0% - 75%

Received, Finished & Transferred 32,000 0% - 100%
End 3,000 0% - 1/3
Abnormal Lost Units (END) 1,000 0% - 100%
Total quantity accounted for 40,000 -

Cost Analysis: Total Cost

Materials Php0.00
Labor 33,120.00
Overhead 19,440.00
Total Php52,560.00
Add: Cost from preceding department: Php126,000.00
Work in Process, Beg. 15,860.00 141,860
Total Cost to be Accounted For Php194,420

Cost Accounted For:

Finished and transferred:
Work in Process, Beg.
Cost last month Php15,860
Cost this month:
Conversaion 3,000 1.42054 4,261
Received 32,000 4.92
Total cost transferred to "BODEGA"
WP-end.:
Cost from preceding dept. 3,000 3.50 Php10,500
Cost this department:
Conversion 1,000 1.42 1,421
Abnormal Spoilage 1,000 4.92
Cost accounted for

Work in Process - Dept. 3 Php 52,560.00

Payroll
Applied Factory Overhead

Finished Goods Php 177,578.00

Work in Process - Dept. 3

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Loss from Abnormal Spoilage Php 4,921.00

Work in Process - Dept. 3

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Con

3,000
32,000
1,000
1,000
37,000

Unit Cost
Php0.0000
0.895135
0.525405
Php1.420541
3.500000

Php4.920541

Php20,121
157,457
Php177,578

11,921
4,921
Php194,420

Php 33,120.00
19,440.00

Php 177,578.00

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Php 4,921.00

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