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University Of Gujrat

Samran Yousaf

Assignment # 02
TOPIC

Cost Of Production Reports


SUBJECT

Cost Accounting
SUBMITTED TO

Sir Kaleem
SUBMITTED BY

SamranYousaf

Roll number

09012120-047 (BBA 4th semester)

University Of Gujrat

Samran Yousaf

Q:1

Herra Manufacturing Company Department I Cost of Production Report During the month of October

Quantity Schedule Units started in Process Units completed and transferred to department II Units still in process (1/2 Mat, Labor, FOH) 9400 600 10,000 Cost Charged to the Deportment Cost add by the department Material Labor Foh Total cost to be accounted for Cost accounted for as follow Cost of completed and transferred units to Department II Work in process closing inventory Material Labor Foh (6001/22) (6001/22.5) (6001/21.5) 600 750 450 1800 + 56400 58200 (94006) 56400 Total Cost 19400 24250 14550 58200 Unit Cost 2 2.5 1.5 0.6 10,000

Total of Work in Process

Additional Computation: Equilant Production Material Labor Foh (9400+6001/2) 9700 (9400+6001/2) (9400+6001/2) 9700 9700 Per Unit Cost Material Labor Foh (19400/9700) 2 (24250/9700) 2.5 (14550/9700) 1.5

University Of Gujrat

Samran Yousaf

Q:2

Nayha Factory Department I Cost of Production Report During the month of July 2006

Quantity Schedule Units started in Process Units completed and transferred to department II Units still in process (50% Mat, 25% Labor, 25%FOH) 15,000 75,000 Cost Charged to the Deportment Cost add by the department Material Labor Foh Total cost to be accounted for Cost accounted for as follow Cost of completed and transferred units to Department II Work in process closing inventory Material Labor Foh (15,00050%4) (15,00025%2) (15,00025%1.5) 30,000 7500 5625 43125 + 450,000 493,125 (60,0007.5) 450,000 Total Cost 270,000 127,500 95,625 493,125 Unit Cost 4 2 1.5 7.5 75,000 60,000

Total of Work in Process

Additional Computation: Equlant Production Material (60,000+15000*50%) Labor (60,000+15000*25%) Foh (60,000+15000*25%) Per Unit Cost Material Labor Foh

67500 63750 63750

(270,000/67500) 4 (127500/63750) 2 (95625/63750) 1.5

University Of Gujrat

Samran Yousaf

Q:3

Tahir Manufacturing Company Department I Cost of Production Report During the month of _______

Quantity Schedule Units started in Process Units completed and transferred to department II Units still in process (1/2 Mat, Labor, FOH) Units lost in process 800 400 20,000 Cost Charged to the Deportment Cost add by the department Material Labor Foh Total cost to be accounted for Cost accounted for as follow Cost of completed and transferred units to Department II Work in process closing inventory Material Labor Foh (8001/24.0416) (8001/25.0520) (8001/23.03125) 1616.64 2020.8 1212.5 4849.5 + 4849.5 232796.6 232797 Additional Computation: Equalant Production Material (18800+8001/2) 19200 Labor (18800+8001/2) Foh (18800+8001/2) 19200 19200 Per Unit Cost Material Labor Foh (1880012.12485) 22794 Total Cost 77600 97000 58200 232797 Unit Cost 4.04166 5.0520 3.03125 12.12485 20,000 18,800

Total of Work in Process

(77600/19200) 4.0416 (97000/19200) 5.0520 (58200/19200) 3.03125

University Of Gujrat

Samran Yousaf

Q:4

Excellent Manufacturing Company Department I Cost of Production Report During the month of March 2000

Quantity Schedule Units started in Process Units completed and transferred to department II Units still in process (40% Mat, 50% Labor, 60% FOH) 4500 500 5,000 Cost Charged to the Deportment Cost add by the department Material Labor Foh Total cost to be accounted for Cost accounted for as follow Cost of completed and transferred units to Department II Work in process closing inventory Material Labor Foh (50050%10.5263) (50040%12.7660) (50060%8.3333) 2631.575 2553.2 2499.99 7684.765 + 142315.2 149999.965 150,000 (450031.6256) 142315.2 Total Cost 50,000 60,000 40,000 150,000 Unit Cost 10.5263 12.7660 8.3333 31.6256 5,000

Total of Work in Process

Additional Computation: Equlant Production Material (4500+50040%) 4700 Labor Foh (4500+50050%) (4500+50060%) 4750 4800 Per Unit Cost Material Labor Foh (50,000/4700) 10.5263 (60,000/4750) 12.7660 (40,000/4800) 8.3333

University Of Gujrat

Samran Yousaf

Q:5

Baber Manufacturing Company Department I Cost of Production Report During the month of January

Quantity Schedule Units started in Process Units completed and transferred to department II Units still in process (1/2 Mat, Labor, FOH) Units lost in process 14,000 3000 1000 18,000 Cost Charged to the Deportment Cost add by the department Material Labor Foh Total cost to be accounted for Cost accounted for as follow Cost of completed and transferred units to Department II Work in process closing inventory Material Labor Foh (300050%5.806) (300025%4.745) (300025%3.389) 8709 3558.75 2541.75 14809.5 + 195160 209969.5 210,000 Additional Computation: Equlant Production Material (14000+300050%) 15500 Labor (14000+300025%) Foh (14000+300025%) 14750 14750 Per Unit Cost Material Labor Foh (90,000/15500) 5.806 (70,000/14750) 4.745 (50,000/14750) 3.389 (1400013.94) 195160 Total Cost 90,000 70,000 50,000 210,000 Unit Cost 5.806 4.745 3.389 13.94 18,000

Total of Work in Process

University Of Gujrat

Samran Yousaf

Q:6

Mirza & Manufacturing Company Department I Cost of Production Report During the month of April 2000

Quantity Schedule Units started in Process Units completed and transferred to department II Units still in process (100% Mat, 50% Labor, 25% FOH) Units lost in process 5000 2000 1000 8,000 Cost Charged to the Deportment Cost add by the department Material Labor Foh Total cost to be accounted for Cost accounted for as follow Cost of completed and transferred units to Department II Work in process closing inventory Material Labor Foh (2000100%3.5714) (200050%5) (200025%3.6363) 7142.8 5000 1818.15 13960.95 + 24415.4 74999.96 75,000 Additional Computation: Equlant Production Material (5000+2000100%) 7000 Labor (5000+200050%) Foh (5000+200025%) 6000 5500 Per Unit Cost: Material (25,000/7000) 3.5714 Labor Foh (30,000/6000) 5 (20,000/5500) 3.6363 (200012.2077) 24415.4 Total Cost 25,000 30,000 20,000 75,000 Unit Cost 3.5714 5 3.6363 12.2077 8,000

Total of Work in Process

University Of Gujrat

Samran Yousaf

Q:7

Ibrahim corporation Department II Cost of Production Report During the month of September 1990

Quantity Schedule Units received from preceding department Units completed and transferred to finished goods Units still in process (50% Mat, Labor, FOH) 4000 1000 5000 Cost Charged to the Deportment II Cast from preceding department Cost add by the department II Material Labor Foh 18,000 9,000 9,000 36,000 Total cost to be accounted for Cost accounted for as follow Cost of completed and transferred units to finished goods (400012) Work in process closing inventory Cost from preceding department I (1000 4) Material Labor Foh (100050%4) (100050%2) (100050%2) 4000 2000 1000 1000 8000 + 48,000 56,000 48,000 56,000 4.0 2.0 2 .0 08 12 Total Cost 20,000 Unit Cost 4 5000

Total of Work in Process

University Of Gujrat

Samran Yousaf

Additional Computation Equilant Production Material Labor Foh (4000+100050%) 4500 (4000+100050%) (4000+100050%) 4500 4500 Per Unit Cost: Material Labor Foh (18,000/4500) 4 (9000/4500) (9000/4500) 2 2

Q:8

Company Name Cost of Production Report 2nd Department During the month of October

Quantity Schedule Units transferd in from Department A Units completed and transferred to department II Units still in process (60% Labor, FOH) 39,000 1000 40,000 Cost Charged to the Deportment Cost from preceding department Cost add by the department Material Labor Foh 26,000 18,000 18,000 62,000 Total cost to be accounted for 220,000 0.65 0.5 0.5 1.65 5.63 Total Cost 158,000 Unit Cost 3.95 40,000

University Of Gujrat

Samran Yousaf

Cost accounted for as follow Cost of completed and transferred out units Work in process closing inventory Cost from preceding Department Material Labor Foh (10,000100%0.65) (10,00060%0.5) (10,00060%0.5) (10,0003.95) 39500 6500 3000 3000 52000 + 168,000 220,000 (30,0005.06) 168000

Total of Work in Process

Additional Computation: Equilant Production Material Labor Foh (30,000+10,000100%) 40,000 (30,000+10,00060%) 36000 (30,000+10,00060%) 36000 Per Unit Cost : Material Labor Foh (26000/40,000) 0.65 (18000/36000) 0.5 (18000/36000) 0.5

Q:9

Oriental Processing Company 2nd Department Cost Of Production Report During the month of March

Quantity Schedule Units received from preceding department Units completed and transferred to Department III Units still in process (3/4 Mat, Labor, FOH) 4000 1000 5000 Cost Charged to the Deportment II Cast from preceding department Total Cost 83,490 Unit Cost 16.698 5000

University Of Gujrat

Samran Yousaf

Cost add by the department II Material Labor Foh 65,448 23,328 28,731 117,507 Total cost to be accounted for Cost accounted for as follow Cost of completed and transferred units to next department (400041.7318) Work in process closing inventory Adjusted cost from deportment I Material Labor Foh (100016.698) 16698 13089.6 2592 1690.0575 34069.6575 + 166927.3412 200996.9987 200997 166927.3412 200997 13.0896 5.184 6.76023 25.033 41.7318

(1000100%13.0896) (100050%5.184) (100025%6.76023)

Total of Work in Process

Additional Computation Equilant Production Material Labor Foh (4000+1000100%) 5000 (4000+100050%) (4000+100025%) 4500 4250 Per Unit Cost: Material Labor Foh (65448/5000) (23328/4500) (28731/4250) 13.0896 5.184 6.76023

University Of Gujrat

Samran Yousaf

Q:10

Alpha Company Department II Cost of Production Report For the year ended______

Quantity Schedule Units received from preceding department Units completed and transferred to Department III Units still in process (1/3 Labor, FOH) Unit lost in process 39,500 10,500 500 55,000 Cost Charged to the Deportment II Cast from preceding department Cost add by the department II Labor Foh 27,520 15,480 43,000 Adjustment for lost of units Total cost to be accounted for Cost accounted for as follow Cost of completed and transferred units to department III (39,5001.98) Work in process closing inventory Adjusted cost from deportment I Labor Foh (10,5002.98) 20,790 2240 1260 24,290 + 11,7710 142,000 11,771,0 142,000 0.64 0.36 2.80 0.18 2.98 Total Cost 99,000 Unit Cost 1.80 55,000

(10,5001/30.64) (10,5001/30.36)

Total of Work in Process

University Of Gujrat

Samran Yousaf

Additional Computation Equilant Production: Labor (39,500+10,5001/3) Foh (39,500+10,5001/3) 43000 43000 Per Unit Cost: Labor (27,520/43000) Foh (15,480/43000) 0.64 0.36

Adjusted Cost 50001.80 = 9000 9000/50,000 = 0.18

Q:11

Main Paint Industry Cost Of Production Report During the month of March

Quantity Schedule Units received from preceding department Units completed and transferred to Department III Units still in process (3/4 Mat, 1/2 Labor, FOH) Unit lost in process 15,000 4000 1000 20,000 20,000

Cost Charged to the Deportment II Cast from preceding department Cost add by the department II Material Labor Foh Adjustment for lost of units Total cost to be accounted for

Total Cost 38,000

Unit Cost 1.9

9,000 4250 5100

0.5 0.25 0.3 0.1

56,350

3.05

University Of Gujrat

Samran Yousaf

Cost accounted for as follow Cost of completed and transferred units to department III (150003.05) Work in process closing inventory Adjusted cost from deportment I Material Labor Foh (40002) 1500 500 600 10600 + 45750 56,350 Additional Computation Equilant Production Material Labor Foh (15,000+40003/4) 18000 (15,000+40001/2) (15,000+40001/2) 17000 17000 Per Unit Cost: Material Labor Foh (9000/18,000) (4250/17,000) (5100/17,000) 0.5 0.25 0.3 8000 45,750

(40003/40.5) (40001/20.25) (40001/20.3)

Total of Work in Process

Q:12

Shan Manufacturing Company 2nd Department Cost Of Production Report During the month of March

Quantity Schedule Units received from preceding department Units completed and transferred to Department III Units still in process (2/3 Mat, 2/3 Labor, FOH) Unit lost in process 50,000 9000 1000 60,000 Cost Charged to the Deportment II Cast from preceding department Total Cost 212400 Unit Cost 3.54 60,000

University Of Gujrat

Samran Yousaf

Cost add by the department II Material Labor Foh Adjustment for lost of units Total cost to be accounted for Cost accounted for as follow Cost of completed and transferred units to next department (50,0007.16874) Work in process closing inventory Adjusted cost from deportment I Material Labor Foh (90003.6) 32400 4462.55 10896.42 6053.52 53812.49 + 35,8437 412249.49 412250 35,8437 412250 41,650 10,1700 56,500 0.74375 1.81607 1.00892 0.06 7.16874

(90002/30.74375) (90002/31.81607) (90002/31.00892)

Total of Work in Process

Additional Computation Equilant Production Material Labor Foh (50,000+90002/3) 56,000 (50,000+90002/3) (50,000+90002/3) 56,000 56,000 Per Unit Cost: Material Labor Foh (41650/56,000) (101700/56,000) (56500/56,000) 0.74375 1.81607 1.00892

Adjustment for loss 10003.54 = 3540 3540/59000 = 0.06

University Of Gujrat

Samran Yousaf

Q13:

Star Company Department II Cost of Production Report For the year ended______

Quantity Schedule Units received from preceding department Units completed and transferred to Department III Units still in process (2/3 Labor, FOH) Units still in hand Units lost during process 25,000 3000 1000 1000 30,000 Cost Charged to the Deportment II Cast received from preceding department Cost add by the department II Labor Foh 7504 3500 11004 Adjustment for lost of units Total cost to be accounted for Cost accounted for as follow Cost of completed and transferred units to department III (25,0003.573) Units still in hand Work in process closing inventory Cost from preceding department I Labor Foh (30003.18) 536 250 13899 + 89,325 103224 9540 (10003.753) 3573 89,325 103224 0.268 0.125 0.393 0.106 3.573 Total Cost 92220 Unit Cost 3.074 30,000

(30002/30.268) (30002/30.125)

Total of Work in Process

University Of Gujrat

Samran Yousaf

Additional Computation Equilant Production: Labor (25000+1000+30002/3) Foh (25000+1000+30002/3) 28,000 28,000 Per Unit Cost: Labor (7504/28000) Foh (3500/28000) 0.268 0.125

Adjusted Cost

10003.0733 = 3073.3 3073.3/29,000 = 0.106

Q:14

Metal Mechanics Department II Cost of Production Report For the year ended______

Quantity Schedule Units received from preceding department Units completed and transferred to next Department Units still in process (4/5 Material,3/5 Labor, FOH) Units still in hand Units lost during process 803 35 10 2 850 Cost Charged to the Deportment II Cast received from preceding department Cost add by the department II Material Labor Foh 47096 35028 31692 113816 Adjustment for lost of units Total cost to be accounted for 65,4416 56 42 38 136 1.5 773.5 Total Cost 540600 Unit Cost 636 850

University Of Gujrat

Samran Yousaf

Cost accounted for as follow Cost of completed and transferred units to next department Units still in hand Work in process closing inventory Cost from preceding department I Material Labor Foh (354/556) (353/542) (353/538) (35637.5) 1568 882 798 33,295.5 + 62, 1120.5 65, 4416 22,312.5 (10773.5) 7735 (803773.5) 621120.5

Total of Work in Process

Additional Computation Equilant Production: Material Labor Foh (803+10+354/5) (803+10+353/5) (803+10+354/5) 841 834 834 Per Unit Cost: Material Labor Foh (47096/841) 56 (35028/834) (31692/834) 42 38

Adjusted for lost Units 2636 = 1272 1272/848 = 1.5

University Of Gujrat

Samran Yousaf

Q:15

Department No.630 Cost Of Production Report During the month of January 2006

Quantity Schedule Units received in Units completed and transferred Units still in process (3/4 Mat, 1/2 Labor, FOH) Unit lost in process (at the end) 3500 2000 500 6000 Cost Charged to the Deportment II Cast from preceding department Cost add by the department II Material Labor Foh Total cost to be accounted for Cost accounted for as follow Cost of completed and transferred out Work in process closing inventory Cost from preceding department Material Labor Foh (200050%12) (200050%8) (200050%4) (200032) 12,000 8000 4000 88,000 + 22,4000 312,000 64000 (350056+28000) 22,4000 60,000 40,000 20,000 312,000 12 8 4 56 Total Cost 192,000 Unit Cost 32 6000

Total of Work in Process

University Of Gujrat

Samran Yousaf

Additional Computation Equilant Production Material Labor Foh (3500+200050%+500) 5000 (3500+200050%+500) (3500+200050%+500) 5000 5000 Per Unit Cost: Material Labor Foh (60,000/5000) (40,000/5000) (20,000/5000) 12 8 4

Cost transferred out


Cost of completed units (350056)

196000 28000 224000

Cost of lost units

(50056)