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    Process Costing Excel

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    Claire Barba
    The document contains information about costs charged to different departments for materials and conversion. For three cases, it shows the beginning inventory, materials received/issued, and ending inventory calculated using average and FIFO costing methods. Under average costing, the total cost is calculated by multiplying the units by the average unit cost for each item. Under FIFO, the oldest units are issued first, calculating an ending inventory at current costs.

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    Process Costing Excel

    Uploaded by

    Claire Barba
    20 views6 pages
    The document contains information about costs charged to different departments for materials and conversion. For three cases, it shows the beginning inventory, materials received/issued, and ending inventory calculated using average and FIFO costing methods. Under average costing, the total cost is calculated by multiplying the units by the average unit cost for each item. Under FIFO, the oldest units are issued first, calculating an ending inventory at current costs.

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    PROCESS-COSTING-EXCEL

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    The document contains information about costs charged to different departments for materials and conversion. For three cases, it shows the beginning inventory, materials received/issued, and ending inventory calculated using average and FIFO costing methods. Under average costing, the total cost is calculated by multiplying the units by the average unit cost for each item. Under FIFO, the oldest units are issued first, calculating an ending inventory at current costs.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as xlsx, pdf, or txt
    20 views6 pages

    Process Costing Excel

    Uploaded by

    Claire Barba
    The document contains information about costs charged to different departments for materials and conversion. For three cases, it shows the beginning inventory, materials received/issued, and ending inventory calculated using average and FIFO costing methods. Under average costing, the total cost is calculated by multiplying the units by the average unit cost for each item. Under FIFO, the oldest units are issued first, calculating an ending inventory at current costs.

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    of 6

    Marshmallows Chocolate CC

    Actual WD EUP WD EUP WD


    IPB
    SIP

    C&T 900,000 100% 900,000.00 100% 900,000.00 100%


    IPE 100,000 100% 100,000.00 0% 0 70%
    1,000,000 1,000,000.00 900,000.00

    Cost charged to the DEPT.

    Marshmallows 1,800,000.00 1.80


    Chocolate 1,350,000.00 1.50
    CC 1,164,000.00 1.20
    4,314,000.00 4.50

    Cost accounted for

    C&T 4,050,000.00
    IPE
    M 180,000.00
    C -
    CC 84,000.00 264,000.00
    4,314,000.00
    CC
    EUP

    900,000.00
    70,000.00
    970,000.00
    PROBLEM 1

    AVERAGE FIFO
    CASE 1 WD
    WD M/CC IPB 10,000
    IPB 10,000 SIP 50000
    SIP 50000 60,000
    60,000
    C&T:
    C&T 55,000 100% 55000 IPB 10,000 `1/5
    IPE 5,000 25% 1250 SIP 45,000 100%
    60,000 56250 IPE 5,000 25%
    60,000

    CASE 2
    WD M/CC WD
    IPB 4,000 IPB 4,000
    received 17500 *** SIP 17500
    21,500 21,500

    C&T 16,000 100% 16000 C&T:


    ON HAND 2,000 100% 2000 ON HAND 2000 100%
    IPE 3,500 30% 1050 IPB 4,000 `5/8
    21,500 19050 18,000 SIP 12,000 100%
    IPE 3,500 30%
    21,500
    CASE 3

    IPB 3,000 IPB 3000


    SIP 50,000 SIP 50,000
    53000 53000

    C&T 41000 100% 41000 C&T:


    IPE*** 12000 60% 7200 IPB 3000 60%
    53000 48200 SIP 38000 100%
    IPE 12000 60%
    53000
    2000
    45000
    1250
    48250

    2000
    2500
    12000
    1050
    17550

    1800
    38000
    7200
    47000
    AVERAGE METHOD FIFO METHOD

    DEPARTMENT 1 DEPARTMENT 1
    MATERIALS CONVERSION COST
    WD EUP WD EUP
    IPB 200 IPB
    SIP 2260 SIP
    2460

    C&T 2160 100% 2160 100% 2160 C&T:


    IPE 300 100% 300 60% 180 IPB
    2460 2460 2340 SIP
    IPE

    DEPARTMENT 2 DEPARTMENT 2

    IPB 80 IPB
    SIP 2160 SIP
    2240

    C&T 2000 100% 2000 100% 2000 C&T:


    IPE 240 75% 180 80% 192 IPB
    2240 2180 2192 SIP
    IPE
    MATERIALS CONVERSION COST
    WD EUP WD EUP
    200
    2260
    2460

    200 0% 0 75% 150


    1960 100% 1960 100% 1960
    300 100% 300 60% 180
    2460 2260 2290

    80
    2160
    2240

    80 20% 16 40% 32
    1920 100% 1920 100% 1920
    240 75% 180 80% 192
    2240 2116 2144

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