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Thomas Carapaica - HW 5 Cost Accounting
Thomas Carapaica - HW 5 Cost Accounting
Beginning Balance
Ending Balance
Transferred In
Transferred Out
A
$30,000
$21,000
$18,000
$27,000
B
$30,000
$31,000
$110,000
$109,000
C
$260,000
$120,000
$780,000
$920,000
Production:
Barrels
Percentage Complete
Equivalent Barrels
Costs:
Total
Sold
Work-in-Process
November 30
10,000
8,800
100%
8,800
1,200
30%
360
9,160
Materials
Manufacturing Overhead
Total Cost Incurred
Cost Per Equivalent Barrel
Cost Assigned To Product
$18,072
$20,400
$38,472
$4.20
$38,472
a.
b.
c.
$36,960
$1,512
Predetermined Overhead=
Estimated Overhead
$ 174,100
=
=$ 1.741
Estimated AllocationBase $ 100,000
Details
Total Operation Cost
Total Number of Units
Cost per Unit
Allocation of Operation Cost:
Operation cost ($2,000 per unit)
Material Cost
Total Cost
Number of Units
Unit Cost
Fat Boy
Screamer
2,000
4,000
$4,000,000
$8,000,000
$4,000,000
8,000,000
2,000
$4,000
$12,000,000
$20,000,000
4,000
$5,000
Total
$12,000,000
6,000
$2,000
$12,000,000
6-40.Operation Costing
Organic Grounds uses operations costing and assigns conversion cost based on the number of
pounds of coffee produced. Compute the cost unit of each brand of coffee produced in February.
Number of pounds
Materials cost per pound
Star
5,000
$4.00
Bucks
20,000
$6.00
Total
25,000
Costs
Conversion Costs:
Direct Labor
Indirect Materials
Other Overhead
Total Operation Cost
$20,000
$120,000
$140,000
$50,000
$15,000
$100,000
$165,000
Bucks
Total
$33,000
$132,000
$165,000
Material Cost
$20,000
$120,000
Total cost
$53,000
$252,000
Number of pounds
5,000
$10.60
20,000
$12.60
Basic
1,000
4,000
Dominator
250
2,000
Total
1,250
6,000
$10,000
$64,500
$3,750
$35,500
$13,750
$100,000
Manufacturing Overhead
($29.02 per machine hour)
$116,067
$58,020
$174,087
Total Cost
$190,567
$97,270
$287,837
Units Cost
$190.57
$389.08
Details
Units produced
Machine hours
Costs
Direct Material Cost
Direct Labor
a. Compute the predetermined overhead rates assuming that Owl-Eye Radiologists uses
equipment-hours to allocate equipment-related overhead costs and labor-hours to
allocate labor-related overhead costs.
b. Compute the total costs of production and the cost per unit for each or the two types of
patients undergoing in June.
Predetermined Overhead=
Predetermined Overhead=
Details
Units (procedures) produced
Equipment hours
Direct labor hours
Product Costing
Direct Material Cost
Direct labor hours
Overhead
Equipment Related ($46 per
equipment hour)
Labor Related ($50 per direct
labor hour)
Total Cost
Unit Cost
Hospital
Patients
640
240
480
Hospital
Patients
$0
$38,400
Other
Patients
860
120
180
Other
Patients
$0
$10,800
$0
$49,200
$11,040
$5,520
$16,560
$24,000
$9,000
$33,000
$73,440
$114.75
$25,320
$29.44
$98,760
Total
1500
360
660
Total