COMPUTATION OF OMPLETED AND TRANSFERRED OUT UNITS

Particulars Units
Unit of Opening Work in Process (WIP) XXX
Add: Units placed in production or WIP XXX
Total units WIP XXX
Less: Ending Work in Process (WIP) (XXX)
Completed and Transferred out XXX

EQUIVALENT PRODUCTION UNITS (EPU)

WIP Conversion Cost

Direct Material
Particulars Direct Labour FOH
Units % Units
Units Units
Units Completed and transferred out WIP XXX XXX XXX
Add: Ending Work in Process Units %
Direct Material (units x% of completion) XX X% XXX
Direct Labour (units x% of completion) XX X% XXX
FOH (units x% of completion) XX X% XXX
XXX XXX XXX
Less: Opening Work in Process
Direct Material (units x% of completion) XX X% (XXX)
Direct Labour (units x% of completion) XX X% (XXX)
FOH (units x% of completion) XX X% (XXX)
Total Equivalent Production Units XXX XXX XXX

Note:
Conversion cost= Direct Labour + FOH

Equivalent Units
EU = WIP units X (% of completed units)

Cost Per Unit

Total Cost (Cost added during the period)
Equivalent units + Completed units

OR

Total Cost (Cost added during the period)

Equivalent Producrion Units (EPU)

COMPUTATION OF COST OF UNITS COMPLETED

Particulars Amount

Opening Cost of Units XXX

Add: Cost Incurred During This Period
D.Material (Opening WIP units x% of completion X cost per unit) XXX
D. Labour (Opening WIP units x% of completion X cost per unit) XXX
FOH (Opening WIP units x% of completion X cost per unit) XXX
Total Cost from opening XXX
Add: Cost From Current Production
(Units Completed - Opening WIP) X Total unit cost XXX
Cost of units Completed/ Finished Goods XXX

COMPUTATION OF ENDING INVENTORY OF WIP

Particulars Amount

D.Material (Ending WIP units x% of completion X cost per unit) XXX

D. Labour (Ending WIP units x% of completion X cost per unit) XXX
FOH (Ending WIP units x% of completion X cost per unit) XXX
Total Cost of Ending Inventory of WIP XXX