PROBLEM 18-29 (WEIGHTED-AVERAGE METHOD)

WaferCo
Cost of Production Report
For the month September 2017

Quantity Schedule Actual Units Direct Materials

Work in process, beginning inventory 1,200
Started this month 2,257
Total units to account 3,457

Finished and transferred 2,300 2,300

Normal spoiled units 345 345
Abnormal spoiled units 292 292
Work in process, ending inventory 520 520
Total units accounted for 3,457 3,457

Cost Schedule Total Direct Materials

Work in process, beginning inventory $ 158,635 $ 142,321
Current period costs 830,654 573,278
Total costs to account for $ 989,289 $ 715,599

Cost per unit $ 297 $ 207

Cost accounted for as follows:

Finished and transferred $ 683,100 $ 476,100
Normal spoilage 102,465 71,415
Total costs transferred out $ 785,565 $ 547,515
Abnormal spoilage 86,724 60,444
Work in process, ending inventory 117,000 107,640
Total costs accounted for $ 989,289 $ 715,599
METHOD) PROBLEM 18-30 (FIFO METHOD
WaferCo
Cost of Production Report
For the month September 2017

Conversion Costs Quantity Schedule

Work in process, beginning inventory
Started this month
Total units to account

2,300 Finished and transferred

345 Work in process, beginning inventory
292 Started this month
104 Normal spoiled units
3,041 Abnormal spoiled units
Work in process, ending inventory
Conversion Costs Total units accounted for
$ 16,314
257,376 Cost Schedule
$ 273,690 Work in process, beginning inventory
Current period costs
$ 90 Total costs to account for

Cost per unit

$ 207,000
31,050 Cost accounted for as follows:
$ 238,050 Beginning work in process, finished and transferred
26,280 Costs last month
9,360 Costs this month
$ 273,690 Started, finished and transferred
Normal spoilage
Total costs transferred out
Abnormal spoilage
Work in process, ending inventory
Total costs accounted for
18-30 (FIFO METHOD)
WaferCo
of Production Report
month September 2017

Actual Units Direct Materials Conversion Costs

1,200
2,257
3,457

1,200 - 840
1,100 1,100 1,100
345 345 345
292 292 292
520 520 104
3,457 2,257 2,681

Total Direct Materials Conversion Costs

$ 158,635 $ 142,321 $ 16,314
830,654 573,278 257,376
$ 989,289 $ 715,599 $ 273,690

$ 350 $ 254 $ 96

$ 158,635 $ 142,321 $ 16,314

80,640 - 80,640
385,000 279,400 105,600
120,750 87,630 33,120
$ 745,025 $ 509,351 $ 235,674
102,200 74,168 28,032
142,064 132,080 9,984
$ 989,289 $ 715,599 $ 273,690