Working: Equivalent Production Units:

Material Conversion
1 Units in process (at start) - Work this period 4,000 2,500
2 Units completed from current production 134,000 134,000
3 Units in process (at end) - Work this period 4,800 4,200
Equivalent Production units 142,800 140,700
1 QUANTITY SCHEDULE:
Units in process (at start) 10,000 (60% Material and 75% Conversion)
Units received from previous dept 140,000
TOTAL 150,000
Units completed and transferred out 144,000
Units in process (at end) 6,000 (80% Material and 70% Conversion)
TOTAL 150,000
2 Cost Charged to the department:
Cost Units Rate
a. Cost of WIP (at start) 98,000 - -
b. Cost incurred in previous dept 770,000 140,000 5.50
c. Cost added by the dept 3: EPU
Direct material 571,200 142,800 4.00
Direct labor 1,125,600 140,700 8.00
FOH 914,550 140,700 6.50
3,479,350 24.00
3. Cost Accounted for
1 COST OF FINISHED GOODS
Total Finished goods = 144,000
a. 10,000 - Finished goods - WIP at start:
Cost incured till start (60% Material and 75% Conversion)
Add: Further cost incurred to complete 100%:
Direct material (10,000 units x 40% x Rs 4.00)
COST OF PRODUCTION REPORT:
Direct labor (10,000 units x 25% x Rs 8.00)
Factory overhead (10,000 units x 25% x Rs 6.50)
Total cost incurred on 10,000 units
b. 134,000 - Finished goods - Current
(134,000 units x 100% x Rs 24.00)
Total Cost of Finished Goods
2 COST OF WORK IN PROCESS (AT END)
Total Work in process - at end 6,000
Inventory cost (6,000 units x Rs 5.50) 33,000
Direct material (6,000 units x 80% x Rs 4.0) 19,200
Direct labor (6,000 units x 70% x Rs 8.0) 33,600
Fatory overhead (6,000 units x 70% x Rs 6.50) 27,300
Total Cost of Work in process -at end
Previous dept (132,000 units x Rs 8.50) 1,122,000
Direct material (132,000 x 100% X Rs 5) 660,000
Direct labor (132,000 x 100% X Rs 4.5) 594,000
FOH (132,000 x 100% X Rs 8.5) 1,122,000 3,498,000
(60% Material and 75% Conversion)
(80% Material and 70% Conversion)
98,000
16,000
20,000
16,250
52,250
150,250
3,216,000
3,366,250
113,100
3,479,350
Working: Equivalent Production Units:
Material Conversion
1 Units in process (at start) - Work this period 200 1,600
2 Units completed from current production 43,000 43,000
3 Units in process (at end) - Work this period 3,000 2,100
Equivalent Production units 46,200 46,700
1 QUANTITY SCHEDULE:
Units in process (at start) 2,000 (90% Material and 20% Conversion)
Units received from previous dept 46,000
TOTAL 48,000
Units completed and transferred out 45,000
Units in process (at end) 3,000 (100% Material and 70% Conversion)
TOTAL 48,000
2 Cost Charged to the department:
Cost Units Rate
a. Cost of WIP (at start) 112,000 - -
b. Cost incurred in previous dept 552,000 46,000 12.00
c. Cost added by the dept 2: EPU
Direct material 242,550 46,200 5.25
Direct labor 116,750 46,700 2.50
FOH 186,800 46,700 4.00
1,210,100 23.75
3. Cost Accounted for
1 COST OF FINISHED GOODS
Total Finished goods = 45,000
a. 2,000 - Finished goods - WIP at start:
Cost incured till start (90% Material and 20% Conversion)
Add: Further cost incurred to complete 100%:
Direct material (2,000 units x 10% x Rs 5.25)
Direct labor (2,000 units x 80% x Rs 2.5)
Factory overhead (2,000 units x 80% x Rs 4.0)
Total cost incurred on 2,000 units
b. 43,000 - Finished goods - Current
(43,000 units x 100% x Rs 23.75)
COST OF PRODUCTION REPORT:
Total Cost of Finished Goods
2 COST OF WORK IN PROCESS (AT END)
Total Work in process - at end 3,000
Inventory cost (3,000 units x 12) 36,000
Direct material (3,000 units x 100% x Rs 5.25) 15,750
Direct labor (3,000 units x 70% x Rs 2.5) 5,250
Fatory overhead (3,000 units x 70% x Rs 4.0) 8,400
Total Cost of Work in process -at end
Previous dept (132,000 units x Rs 8.50) 1,122,000
Direct material (132,000 x 100% X Rs 5) 660,000
Direct labor (132,000 x 100% X Rs 4.5) 594,000
FOH (132,000 x 100% X Rs 8.5) 1,122,000 3,498,000
(90% Material and 20% Conversion)
(100% Material and 70% Conversion)
112,000
1,050
4,000
6,400
11,450
123,450
1,021,250
1,144,700
65,400
1,210,100
Working: Equivalent Production Units:
Material Conversion
1 Units in process (at start) - Work this period - 1,800
2 Units completed from current production 144,000 144,000
3 Units in process (at end) - Work this period 10,000 8,000
Equivalent Production units 154,000 153,800
1 QUANTITY SCHEDULE:
Units in process (at start) 6,000 (100% Material, 70% Conversion)
Units received from previous dept 154,000
TOTAL 160,000
Units completed and transferred out 150,000
Units in process (at end) 10,000 (100% Material, 80% Conversion)
TOTAL 160,000
2 Cost Charged to the department:
Cost Units Rate
a. Cost of WIP (at start) 88,000 - -
b. Cost incurred in previous dept 1,848,000 154,000 12.00
c. Cost added by the dept 2: EPU
Direct material 924,000 154,000 6.00
Direct labor 1,230,400 153,800 8.00
FOH 1,845,600 153,800 12.00
5,936,000 38.00
COST OF PRODUCTION REPORT:
3. Cost Accounted for as follows
1 COST OF FINISHED GOODS
Total units in Finished Goods 142,000
a) 10,000 units - From Units in process - at start:
Cost incurred till start - 40% Material and 70% conversion
Add: Further cost incurred to complete 100%:
Direct material (10,000 units x 60% x Rs 5.00) 30,000
Direct labor (10,000 units x 30% x Rs 4.50) 13,500
Factory overrhead (10,000 units x 30% x Rs 8.50) 25,500
Total cost incurred on 10,000 units
b) 132,000 units - From Current production
(132,000 units x 100% x Rs 26.50)
Total cost of Finished goods
2 COST OF WORK IN PROCESS (AT END)
Total units in process - at end 8,000
1. Previous dept (8,000 units x Rs 8.50) 68,000
b. Direct material (8,000 units x 90% x Rs 5) 36,000
c. Direct Labor (8,000 units x 40% x Rs 4.5) 14,400
d. FOH (8,000 units x 40% x Rs 8.5) 27,200
Cost of work in process - at end
Previous dept (132,000 units x Rs 8.50) 1,122,000
Direct material (132,000 x 100% X Rs 5) 660,000
Direct labor (132,000 x 100% X Rs 4.5) 594,000
FOH (132,000 x 100% X Rs 8.5) 1,122,000 3,498,000
(100% Material, 70% Conversion)
(100% Material, 80% Conversion)
96,000
69,000
165,000
3,498,000
3,663,000
145,600
3,808,600
Working: Equivalent Production Units:
Material Conversion
1 Units in process (at start) - Work this period - 2,000
2 Units completed from current production 169,000 169,000
3 Units in process (at end) - Work this period 26,000 19,500
Equivalent Production units 195,000 190,500
1 QUANTITY SCHEDULE:
Units in process (at start) 5,000 (100% Material, 60% Conversion)
Units placed in production 195,000
TOTAL 200,000
Units completed and transferred out 174,000
Units in process (at end) 26,000 (100% Material, 75% Conversion)
TOTAL 200,000
2 Cost Charged to the department:
Cost Units Rate
a. Cost of WIP (at start) 57,000 - -
b. Cost added by the dept 1: EPU
Direct material 1,755,000 195,000 9.00
Direct labor 857,250 190,500 4.50
FOH 1,905,000 190,500 10.00
4,574,250 23.50
3. Cost Accounted for as follows
1 COST OF FINISHED GOODS
Total units in Finished Goods 174,000
a) 5,000 units - From Units in process - at start:
Cost incurred till start - 100% Material and 60% conversion
Add: Further cost incurred to complete 100%:
Direct material (5,000 units x 0% x Rs 9.00) -
Direct labor (5,000 units x 40% x Rs 4.50) 9,000
Factory overrhead (5,000 units x 40% x Rs 10) 20,000
Total cost incurred on 5,000 units
b) 169,000 units - From Current production
(169,000 units x 100% x Rs23.50)
COST OF PRODUCTION REPORT:
Total cost of Finished goods
2 COST OF WORK IN PROCESS (AT END)
Total units in process - at end 26,000
a. Direct material (26,000 units x 100% x 9.00) 234,000
b. Direct Labor (26,000 units x 75% x 4.5) 87,750
c. FOH (26,000 units x 75% x 10.00) 195,000
Cost of work in process - at end
Previous dept (132,000 units x Rs 8.50) 1,122,000
Direct material (132,000 x 100% X Rs 5) 660,000
Direct labor (132,000 x 100% X Rs 4.5) 594,000
FOH (132,000 x 100% X Rs 8.5) 1,122,000 3,498,000
(100% Material, 60% Conversion)
(100% Material, 75% Conversion)
57,000
29,000
86,000
3,971,500
4,057,500
516,750
4,574,250
Working: Equivalent Production Units:
Material Conversion
2 Units completed from current production 54,000 54,000
3 Units in process (at end) - Work this period 6,000 5,400
Equivalent Production units 60,000 59,400
1 QUANTITY SCHEDULE:
Units received from previous dept 60,000
TOTAL 60,000
Units completed and transferred out 54,000
Units in process (at end) 6,000 (100% Material, 90% Conversion)
TOTAL 60,000
2 Cost Charged to the department:
Cost Units Rate
a. Cost incurred in previous dept 1,320,000 60,000 22.00
b. Cost added by the dept 2: EPU
Direct material 360,000 60,000 6.00
Direct labor 386,100 59,400 6.50
FOH 445,500 59,400 7.50
2,511,600 42.00
COST OF PRODUCTION REPORT:
3. Cost Accounted for as follows
1 COST OF FINISHED GOODS
Total units in Finished Goods 54,000
a) 54,000 units - From Current production
(54,000 units x 100% x Rs 42
Total cost of Finished goods
2 COST OF WORK IN PROCESS (AT END)
Total units in process - at end 6,000
1. Previous dept (6,000 units x Rs 22) 132,000
b. Direct material (6,000 units x 100% x 6) 36,000
c. Direct Labor (6,000 units x 90% x 6.5) 35,100
d. FOH (6,000 units x 90% x 7.5) 40,500
Cost of work in process - at end
Previous dept (132,000 units x Rs 8.50) 1,122,000
Direct material (132,000 x 100% X Rs 5) 660,000
Direct labor (132,000 x 100% X Rs 4.5) 594,000
FOH (132,000 x 100% X Rs 8.5) 1,122,000 3,498,000
(100% Material, 90% Conversion)
2,268,000
2,268,000
243,600
2,511,600
Working: Equivalent Production Units:
Material Conversion
1 Units in process (at start) - Work this period 4,000 4,000
2 Units completed from current production 29,000 29,000
Equivalent Production units 33,000 33,000
1 QUANTITY SCHEDULE:
Units in process (at start) 10,000 (60% Material and conversion)
Units placed in production 29,000
TOTAL 39,000
Units completed and transferred out 39,000
Units in process (at end) -
TOTAL 39,000
2 Cost Charged to the department:
Cost Units Rate
a. Cost of WIP (at start) 48,000 - -
b. Cost added by the dept 2: EPU
Direct material 155,000 33,000 4.6970
COST OF PRODUCTION REPORT:
Direct labor 76,000 33,000 2.3030
FOH 60,800 33,000 1.8424
339,800 8.8424
3. Cost Accounted for as follows
1 COST OF FINISHED GOODS
Total units in Finished Goods 39,000
a) 10,000 units - From Units in process - at start:
Cost incurred till start - 60% Material and conversion
Add: Further cost incurred to complete 100%:
Direct material (10,000 units x 40% x Rs 4.6970) 18,788
Direct labor (10,000 units x 40% x Rs 2.3030) 9,212
Factory overrhead (10,000 units x 40% x Rs 1.8424) 7,370
Total cost incurred on 10,000 units
b) 29,000 units - From Current production
(29,000 units x 100% x Rs 8.8424)
Total cost of Finished goods
Previous dept (132,000 units x Rs 8.50) 1,122,000
Direct material (132,000 x 100% X Rs 5) 660,000
Direct labor (132,000 x 100% X Rs 4.5) 594,000
FOH (132,000 x 100% X Rs 8.5) 1,122,000 3,498,000
(60% Material and conversion)
48,000
35,370
83,370
256,430
339,799
339,799
COST OF PRODUCTION REPORT:
1 QUANTITY SCHEDULE:
Units in process (at start) 5,000 (100% Mat, 70% Conv)
Units received from dept 1 95,000
TOTAL 100,000
Units completed and transferred out 98,000
Units in process (at end) 2,000 (100% Mat, 30% Conv)
100,000
2 Cost Charged to the department:
Cost Units Rate
3. Cost Accounted for as follows
1 COST OF FINISHED GOODS
Total units completed during the period = 98,000
a) From beginning work in process (5,000 units):
Cost incurred till start 10,000
Add: Further cost incurred to complete 100%
Direct material (5,000 x 0% x 5) -
Direct labor (5,000 x 30% x 4) 6,000
FOH (5,000 x 30% x 4.50) 6,750
Total cost incurred to complete 5,000 units 22,750
b) From current production (93,000 units)
(93,000 units x 100% x 24) 2,232,000
Total cost of Finished goods 2,254,750
2 COST OF WORK IN PROCESS (AT END)
Inventory cost (2,000 units x 12) 24,000
Direct material (2,000 units x 100% x 3.50) 7,000
Direct labor (2,000 units x 30% x 4) 2,400
FOH (2,000 units x 30% x 4.50) 2,700
Total cost of WIP (at end) 36,100
2,290,850
Working: Equivalent Production Units:
Material
1. Units completed and transferred out 98,000
2. Less: WIP (Start) - all units (5,000)
Units started and completed 93,000
3. Add: WIP (Start) - work this period -
4. Add: WIP (End) - work this period 2,000
Equivalent Production Units 95,000
Conversion
98,000
(5,000)
93,000
1,500
600
95,100
COST OF PRODUCTION REPORT:
1 QUANTITY SCHEDULE:
Units received from previous dept 100,000
TOTAL 100,000
Units completed and transferred out 82,000
Units in process (at end) 18,000 (100% Mat, 80% Conv)
100,000
2 Cost Charged to the department:
Cost Units Rate
a. Per unit received from Previous dept 600,000 100,000 6.00
b. Cost added by the dept:
Direct materail 250,000 100,000 2.50
Direct labor 289,200 96,400 3.00
FOH 385,600 96,400 4.00
1,524,800 15.5
3. Cost Accounted for as follows
1 COST OF FINISHED GOODS
Total units completed during the period = 82,000
From current production (82,000 units)
(82,000 units x 100% x 15.50) 1,271,000
Total cost of Finished goods 1,271,000
2 COST OF WORK IN PROCESS (AT END)
Inventory cost (18,000 units x 6) 108,000
Direct material (18,000 x 100% x 2.50) 45,000
Direct labor (18,000 x 80% x 3) 43,200
FOH (18,000 x 80% x 4) 57,600
Total cost of WIP (at end) 253,800
1,524,800
Working: Equivalent Production Units:
Material
1. Units completed and transferred out 82,000
Units started and completed 82,000
2. Add: WIP (End) - work this period 18,000
Equivalent Production Units 100,000
Conversion
82,000
82,000
14,400
96,400
Working:
Equivalent Production Units:
Material Conversion
1. Units in process (at Start) - Work this period
2. Units completed from current production
3. Units in process (at end) - Work this period
COST OF PRODUCTION REPORT:
1 QUANTITY SCHEDULE:
Units in process (at start) 6,000 (90% Mat, 70% Conv)
Unit put into production 94,000
TOTAL 100,000
Units completed and transferred out 90,000
Units in process (at end) 10,000 (75% Mat, 40% Conv)
100,000
2 Cost Charged to the department:
Cost Units Rate
a. Cost of WIP (at start) 55,000 - -
b. Cost added by the dept 1:
Direct materail 184,200 #REF! #REF!
Direct labor 269,400 #REF! #REF!
FOH 359,200 #REF! #REF!
867,800 #REF!
3. Cost Accounted for as follows
1 COST OF FINISHED GOODS
Total units completed during the period = 90,000
a) From beginning work in process (6,000 units):
Cost incurred till start 55,000
Add: Further cost incurred to complete 100%
Direct material (6,000 x 10% x 2) 1,200
Direct labor (6,000 x 30% x 3) 5,400
FOH (6,000 x 30% x 4) 7,200
Total cost incurred to complete 6,000 units 68,800
b) From current production (84,000 units)
(84,000 x 100% x 9) 756,000
Total cost of Finished goods 824,800
2 COST OF WORK IN PROCESS (AT END)
Direct material (10,000 units x 75% x 2) 15,000
Direct labor (10,000 units x 40% x 3) 12,000
FOH (10,000 units x 40% x 4) 16,000
Total cost of WIP (at end) 43,000
867,800
COST OF PRODUCTION REPORT - Dept A
1 QUANTITY SCHEDULE:
Units put into proc ess 30,000
TOTAL 30,000
Units completed and transferred out 25,000
Units in process (at end) 5,000 (60% Material % 60% Conv)
30,000
2 Cost Charged to the department:
Cost Units Rate
a. Cost added by the dept A: EPU
Direct material 22,400 28,000 0.80
Direct labor 19,600 28,000 0.70
FOH 14,000 28,000 0.50
56,000 2.0
3. Cost Accounted for as follows
1 COST OF FINISHED GOODS
Total units completed during the period = 25,000
From current production (25,000 units)
(25,000 units x 100% x 2) 50,000
Total cost of Finished goods 50,000
2 COST OF WORK IN PROCESS (AT END)
Direct material (5,000 units x 60% x 0.80) 2,400
Direct labor (5,000 units x 60% x 0.70) 2,100
FOH (5,000 units x 60% x 0.50) 1,500
8 Total cost of WIP (at end) 6,000
56,000
COST OF PRODUCTION REPORT - Dept B
1 QUANTITY SCHEDULE:
Units received from previous dept 25,000
TOTAL 25,000
Units completed and transferred out 21,000
Units in process (at end) 4,000 (60% Material % 60% Conv)
25,000
2 Cost Charged to the department:
Cost Units Rate
a. Per Unit cost of previous dept. 50,000 25,000 2
b. Cost added by the dept B: EPU
Direct material 9,360 23,400 0.40
Direct labor 14,040 23,400 0.60
FOH 28,080 23,400 1.20
101,480 4.2
3. Cost Accounted for as follows
COST OF FINISHED GOODS
Total units completed during the period = 21,000
From current production (21,000 units)
(21,000 units x 100% x 4.2) 88,200
Total cost of Finished goods 88,200
2 COST OF WORK IN PROCESS (AT END)
Inventory cost (4,000 units x 2) 8,000
Direct material (4,000 units x 60% x 0.40) 960
Direct labor (4,000 units x 60% x 0.60) 1,440
FOH (4,000 units x 60% x 1.20) 2,880
8 Total cost of WIP (at end) 13,280
101,480
Entries in Process Costing:
1. Transfer of units from one process to another process:
Work in Process (Dept B) 50,000
Work in Process (Dept A) 50,000
(To record: the transfer of 25,000 units
from Dept A to Dept B)
2 Transfer Finished goods to Ware house:
Finished Goods 88,200
Work in Process (Dept B) 88,200
(To record: the transfer of 21,000 units
from Dept B to Ware house)
Working: Equivalent Production Units:
Material Conversion
1. Units completed and transferred out (FG) 25,000 25,000
2. Add: WIP (End) - work this period 3,000 3,000
Equivalent Production Units 28,000 28,000
Working: Equivalent Production Units:
Material Conversion
1. Units completed and transferred out (FG) 21,000 21,000
2. Add: WIP (End) - work this period 2,400 2,400
Equivalent Production Units 23,400 23,400
Dept 1 Dept 2
1 Units in process - at start 2,000 5,000
2 Cost of WIP - at start 22,000 48,000
3 Units placed in production 58,000 -
4 Units in process - at end 5,000 10,000
5 Cost added by the department:
Direct material 155,000 210,000
Direct labor 250,000 187,000
FOH 145,000 195,000
Stage of Completion:
Work in process - at start 25% Mat 45% Mat
95% Conv 55% Conv
Work in process - at end 100% Mat 85% Mat
45% Conv 25% Conv
Working: Equivalent Production Units:
Material Conversion
1 Units in process (at start) - Work this period 1,500 100
2 Units completed from current production 53,000 53,000
3 Units in process (at end) - Work this period 5,000 2,250
Equivalent Production units 59,500 55,350
1 QUANTITY SCHEDULE:
Units in process (at start) 2,000 (25% Material and 95% Conversion)
Units placed in production 58,000
TOTAL 60,000
Units completed and transferred out 55,000
Units in process (at end) 5,000 (100% Material and 45% Conversion)
TOTAL 60,000
2 Cost Charged to the department:
Cost Units Rate
a. Cost of WIP (at start) 22,000
b. Cost added by the dept 1: EPU
Direct material 155,000 59,500 2.6050
Direct labor 250,000 55,350 4.5167
FOH 145,000 55,350 2.6197
572,000 9.7414
COST OF PRODUCTION REPORT:
3. Cost Accounted for as follows
1 COST OF FINISHED GOODS
Total numbers of units completed = 55,000
a. 2,000 completed from Beginning Inventory
Cost incurred till start (25% Material, 95% Conversion) 22,000
Add: Further cost incurred to complete 100%:
Direct material (2,000 units x 75% x Rs. 2.6050) 3,908
Direct labor (2,000 units x 5% x Rs.4.5167) 452
Factory overhead (2,000 units x 5% x Rs. 2.6197) 262
Total cost incurred on 2,000 units
b. 53,000 completed from current production
(53,000 units x 100% x Rs. 9.7414)
Total cost of Finished goods - 55,000 units
2 COST OF WORK IN PROCESS (AT END)
Direct material (5,000 units x 100% x Rs 2.6050 13,025
Direct labor (5,000 units x 45% x Rs 4.5167 10,163
Factory overhead (5,000 units x 45% x Rs 2.6197 5,894
Total cost of Work in process -at end
(25% Material and 95% Conversion)
(100% Material and 45% Conversion)
26,621
516,294
542,915
29,082
571,997
Working: Equivalent Production Units:
Material Conversion
1 Units in process (at start) - Work this period 1,500 2,000
2 Units completed from current production 35,000 35,000
3 Units in process (at end) - Work this period 7,000 6,000
Equivalent Production units 43,500 43,000
1 QUANTITY SCHEDULE:
Units in process (at start) 5,000 (70% Material and 60% Conversion)
Units placed in production 45,000
TOTAL 50,000
Units completed and transferred out 40,000
Units in process (at end) 10,000 (70% Material and 60% Conversion)
TOTAL 50,000
2 Cost Charged to the department:
Cost Units Rate
a. Cost of WIP (at start) 26,000
b. Cost added by the dept 1: EPU
Direct material 152,250 43,500 3.50
Direct labor 172,000 43,000 4.00
FOH 193,500 43,000 4.50
543,750 12.00
3. Cost Accounted for as follows
1 COST OF FINISHED GOODS
Total numbers of units completed = 40,000
a. 5,000 completed from Beginning Inventory
Cost incurred till start (70% Material, 60% Conversion) 26,000
Add: Further cost incurred to complete 100%:
Direct material (5,000 units x 30% x Rs 3.50) 5,250
Direct labor (5,000 units x 40% x Rs 4.00) 8,000
Factory overhead (5,000 units x 40% x Rs 4.50) 9,000
Total cost incurred on 5,000 units
b. 35,000 completed from current production
(35,000 units x 100% x Rs 12)
Total cost of Finished goods - 40,000 units
COST OF PRODUCTION REPORT:
2 COST OF WORK IN PROCESS (AT END)
Direct material (10,000 units x 70% x Rs 3.50) 24,500
Direct labor (10,000 units x 60% x Rs 4.00) 24,000
Factory overhead (10,000 units x 60% x Rs 4.50) 27,000
Total cost of Work in process -at end
Working: Equivalent Production Units:
Material Conversion
1 Units in process (at start) - Work this period - -
2 Units completed from current production 38,000 38,000
3 Units in process (at end) - Work this period 1,200 800
Equivalent Production units 39,200 38,800
1 QUANTITY SCHEDULE:
Units in process (at start) -
Units received from Dept 1 40,000
TOTAL 40,000
Units completed and transferred out 38,000
Units in process (at end) 2,000 (60% Material and 40% Conversion)
TOTAL 40,000
2 Cost Charged to the department:
Cost Units Rate
a. Per unit cost received from dept 1 468,250 40,000 11.7063
b. Cost added by the dept 1: EPU
Direct material 200,000 39,200 5.1020
Direct labor 250,000 38,800 6.4433
FOH 350,000 38,800 9.0206
1,268,250 32.2722
3. Cost Accounted for as follows
1 COST OF FINISHED GOODS
Total numbers of units completed = 38,000
38,000 completed from current production
COST OF PRODUCTION REPORT:
(38,000 units x 100% x Rs 32.2722)
Total cost of Finished goods - 38,000 units
2 COST OF WORK IN PROCESS (AT END)
Inventory Cost (2,000 units x Rs 11.7063) 23,413
Direct material (2,000 units x 60% x Rs 5.1020) 6,122
Direct labor (2,000 units x 40% x Rs 6.4433) 5,155
Factory overhead (2,000 units x 40% x Rs 9.0206) 7,216
Total cost of Work in process -at end
(70% Material and 60% Conversion)
(70% Material and 60% Conversion)
48,250
420,000
468,250
75,500
543,750
(60% Material and 40% Conversion)
1,226,344
1,226,344
41,906
1,268,250