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Pre-Finals Cost Acctg Compilation, Lester de Guzman
Pre-Finals Cost Acctg Compilation, Lester de Guzman
Pre-Finals Cost Acctg Compilation, Lester de Guzman
REQUIREMENT 1
Assembly Department
Equivalent Production Computations
Month of August
Materials
Transferred Out to Next Department 1860
Work in Process- End (140 x 100%) 140
Equivalent Units for Materials 2000
Labor
Transferred Out to Next Department 1860
Work in Process- End (140 x 75%) 105
Equivalent Units for Labor 1965
Overhead
Transferred Out to Next Department 1860
Work in Process- End (140 x 75%) 105
Equivalent Units for Overhead 1965
REQUIREMENT 1
Finishing Department
Equivalent Production Computations
Month of August
Materials
Transferred Out to Finished Goods 1800
Work in Process- End (60 x 40%) 24
Equivalent Units for Materials 1824
Labor
Transferred Out to Finished Goods 1800
Work in Process- End (60 x 10%) 6
Equivalent Units for Labor 1806
Overhead
Transferred Out to Finished Goods 1800
Work in Process- End (60 x 40%) 24
Equivalent Units for Overhead 1824
REQUIREMENT 2
Quantity Schedule
(a) Quantity to be Accounted for UNITS
Started in Process 2000 REQUIREMENT 4
Total to be accounted for 2000
Cost Schedule
( c) Cost to be Accounted for TC EU UC
Materials 30000 2000 15.00
Labor 29670 1965 15.10
Overhead 18830 1965 9.58
Total cost to be accounted for 78500 39.68
REQUIREMENT 2
Finishing Department
Cost of Production Report
Month of August
Quantity Schedule
(a) Quantity to be Accounted for UNITS
Transferred in From Assembly Department 1860
Total to be accounted for 1860
Cost Schedule
( c) Cost to be Accounted for TC EU UC
Transferred in from Assembly Department 73808 1860 39.68
Cost incurred in this Department
Materials 68000 1824 37.28
Labor 13671 1806 7.57
Overhead 7825 1824 4.29
Total Cost incurred in this Deparment 89496 49.14
Total cost to be accounted for 163304 88.82
JOURNAL ENTRIES
REQUIREMENT 3
Work in process-Finishing Department 89496
Materials 68000
Factory Payroll 13671
Factory Overhead 7825
REQUIREMENT 5
Finished Goods 159880
Work in process-Finishing Department 159880
PROBLEM 10-10
REQUIREMENT 1
Trimming Department
Equivalent Production Computations
Month of June 2014
Materials
Transferred Out to Next Department 5400
Work in Process- End (600 x 100%) 600
Equivalent Units for Materials 6000
Labor
Transferred Out to Next Department 5400
Work in Process- End (600 x 60%) 360
Equivalent Units for Labor 5760
Overhead
Transferred Out to Next Department 5400
Work in Process- End (600 x 60%) 360
Equivalent Units for Overhead 5760
REQUIREMENT 1
Assembly Department
Equivalent Production Computations
Month of June 2014
Materials
Transferred Out to Next Department 5000
Work in Process- End (400 x 95%) 380
Equivalent Units for Materials 5380
Labor
Transferred Out to Next Department 5000
Work in Process- End (400 x 75%) 300
Equivalent Units for Labor 5300
Overhead
Transferred Out to Next Department 5000
Work in Process- End (400 x 85%) 340
Equivalent Units for Overhead 5340
REQUIREMENT 2
Finishing Department
Equivalent Production Computations
Month of June 2014
Materials
Transferred out to Finished Goods 4800
Work in Process- End (200 x 80%) 160
Equivalent Units for Materials 4960
Labor
Transferred out to Finished Goods 4800
Work in Process- End (200 x 90%) 180
Equivalent Units for Labor 4980
Overhead
Transferred out to Finished Goods 4800
Work in Process- End (200 x 80%) 160
Equivalent Units for Overhead 4960
REQUIREMENT 2
Quantity Schedule
(a) Quantity to be Accounted for UNITS
Started in Process 6000 REQUIREMENT 3
Total to be accounted for 6000
Cost Schedule
( c) Cost to be Accounted for TC EU UC
Materials 33600 6000 5.60
Labor 18500 5760 3.21
Overhead 9217 5760 1.60
Total cost to be accounted for 61317 10.41
REQUIREMENT 2
Assembly Department
Cost of Production Report
Month of June 2014
Quantity Schedule
(a) Quantity to be Accounted for UNITS
Transferred in From Trimming Department 5400
Total to be accounted for 5400
Cost Schedule
( c) Cost to be Accounted for TC EU UC
Transferred in From Trimming Department 56225 5400 10.41
Cost incurred in this Department
Materials 16786 5380 3.12
Labor 14840 5300 2.80
Overhead 7120 5340 1.33
Total Cost incurred in this Deparment 38746 7.25
Total cost to be accounted for 94971 17.67
d)
(d) Cost Accounted for
Transferred to Finishing Department 88327 5000 17.67
Work in Process-End
Transferred in from Prior Department 4165 400 10.41
Cost incurred in this Department
Materials 1186 380 3.12
Labor 840 300 2.80
Overhead 453 340 1.33
Total Work in Process 6644
Total Cost Accounted for 94971
REQUIREMENT 2
Finishing Department
Cost of Production Report
Month of June 2014
Quantity Schedule
(a) Quantity to be Accounted for UNITS
Transferred in From Assembly Department 5000
Total to be accounted for 5000
Cost Schedule
( c) Cost to be Accounted for TC EU UC
Transferred in From Assembly Department 88327 5000 17.67
Cost incurred in this Department
Materials 6400 4960 1.29
Labor 10320 4980 2.07
Overhead 4960 4960 1.00
Total Cost incurred in this Deparment 21680 4.36
Total cost to be accounted for 110007 22.03
d)
(d) Cost Accounted for
Transferred to Finished Goods 105734 4800 22.03
Work in Process-End
Transferred in from Prior Department 3533 200 17.67
Cost incurred in this Department
Materials 206 160 1.29
Labor 373 180 2.07
Overhead 160 160 1.00
Total Work in Process 4273
Total Cost Accounted for 110007
JOURNAL ENTRIES
REQUIREMENT 3
Work in process-Trimming Department 61317
Materials 33600
Factory Payroll 18500
Factory Overhead 9217
REQUIREMENT 3
Work in process-Assembly Department 56225
Work in process-Trimming Department 56225
JOURNAL ENTRIES
REQUIREMENT 3
Work in process-Assembly Department 38746
Materials 16786
Factory Payroll 14840
Factory Overhead 7120
REQUIREMENT 3
Work in process-Finishing Department 88327
Work in process-Assembly Department 88327
JOURNAL ENTRIES
REQUIREMENT 3
Finished Goods 21680
Materials 6400
Factory Payroll 10320
Factory Overhead 4960
REQUIREMENT 3
Finished Goods 105734
Finished Goods 105734