TOTAL COST ESTIMATED TOTAL MOH

DIRECT MATERIALS+DIRECT LABOR+MOH Y=a+bx a= fixed overhead cost

b=variable overhead cost
x=allocation base
POHR
Estimated total manufacturing overhead cost for the coming period/estimated total units in the allocation base for the comin

OVERHEAD APPLIED PRICE

PREDETERMINED OVERHEAD RATE x ACTUAL AMOUNT OF THE ALLOCATION BTC+ MARKUP PERCENTAG

ADJUSTMENT
APPLIED MOH - ACTUAL MOH TOTAL MANUFACTURING COST ADDED TO W
DM used in production
GROSS MARGIN DL used in production
Sales MOH applied
(-) Cost of Goods sold

RAW MATERIALS USED IN PROD

Beginning raw mat inventory+purchase of raw material-ending raw material inventory

SCHEDULE OF COST OF GOODS MANUFACTURFROM WIP

TO FINISHED GOODS
EX: FORM Beginning inventory-WIP #NAME?

DIRECT MATERIAL
Beg Inventory $0
(+) Purchases $ -
(=) Materials a $0
(-) Ending Inv $ -
(=) Materials u $0
(-)Indirect mate $0.00
(=) Direct materials used $0

DIRECT LABOR $0.00

MANUFACTURING OVERHEAD APPLIED TO $ -

(=)TOTAL MANUFACTURING COST APPLIED TO THE PROCE $ -

(=) TOTAL MANUFACTU B.I.+TMC #NAME?

 (-)ENDING INVENTORY-WIP $ -

(=)COST OF GOODS MANUFACTURED #NAME?

DIRECT MATERIALS COST IN WIP INV ACCOUNTED

Beginning WIP inventory EXAMPLE
(-) Direct labor
(-) MOH applied

CALCULATE DIRECT LABOR HOURS EXAMPLE

Estimated total manufacturing overhead
(÷) Predetermined overhead rate

OVERHEAD OVER/UNDERAPPLIED
Actual manufacturing overhead incurred
(-) Manufacturing overhead applied to WIP
 NAME OF Corporation
fixed overhead cost Income Statement
variable overhead cost Year ending MONTH-DAY, YEAR
allocation base ADJUSTED UNADJUSTED
SALES REVENUE #REF! #REF!
llocation base for the coming period (-) COGS #REF! #REF!
(=) GROSS PROFIT #REF! #REF!
(-)SALES & ADMIN EXPEN $ - $ -
+ MARKUP PERCENTAGE (=) NET INCOME #REF! #REF!

RING COST ADDED TO WIP COST OF GOODS AVAILABLE FOR SALE

Beginning Finished Goods inventory
(+) Cost of goods manufactured

SCHEDULE OF COST OF GOODS SOLD FROM FINISHED GOODS

TO COGS

BEGINNING INVENTORY-FINISHED GOODS $0.00

NISHED GOODS (+)COGM $0

(=) COST OF GOODS AVAILABLE FOR SALE $0.00

(-) ENDING INV -FINISHED GOODS $ -

(=) UNADJUSTED COGS $0.00

(+/-) OVER/UNDER APPLIED MOH COST #NAME?

(=) ADJUSTED COGS #NAME?

NISHED GOODS
 Percent complete
Units Materials Conversion
WIP inventory, June 1 5,000 100% 50%
WIP inventory, June 30 8,000 100% 40%
Materials cost WIP inventory, Nov 1
Conversion cost WIP, Nov 1
Units started into production 0
Units transferred to the next department 100% 100%
Materials cost added during Nov
Conversion cost added during Nov

Step 1 Equivalent units

Materials Conversion
Units transferred to the next dept 0 0
(+) WIP ending inventory
8000 * 100% (Mat)
8000 * 40% (Conv)

Total equiv units of prod 0 0

3 Materials Conversion
Ending Inventory WIP
Equiv. units of prod
Cost per equiv. unit #DIV/0! #DIV/0!
Cost of ending WIP inventory

Units completed and transferred to next Dept

Units transferred to next dept
Cost per equiv. unit #DIV/0! #DIV/0!
Cost of units transferred

Debit Credit
WIP Dept B $ -
WIP Dept A $ -
Step 2 Material Conversion
Cost of initial inventory WI $0 $0 $0
(+) Cost added to the proc $0 $0 $0

Total cost $0 $0
(divided by)
Equiv. units of production 0 0

Cost per equiv. unit #DIV/0! #DIV/0!

Total Units Cost to be accounted for

Cost of initial inventory WIP
(+) Costs added during the period
0 Total cost to be accounted f

Costs accounted for as follows

Cost of ending inventory WIP
(+) Cost of units transferred out
0 Total cost accounted for
 step 2
uring the period step 2
$ -

entory WIP step 3

ansferred out setp 3
$ -
 Step 1: Equiv. Units of Prod.

Equivalent units needed to complete initial inventory WIP

200*(100%-55%)

200*(100%-30%)

Units started AND completed during the period

Equivalent units in ending inventoty WIP

400*40%(Mat)
400*25%(Conv)

Equivalent Units of production

Step 2: Cost per Equiv. Unit

Cost added to the process
(divided by)
Equiv. units of production

Cost per equiv. unit

Step 3: Assign cost to Units

Ending Inventory WIP

Cost units transferred out

 Step 4: Cost Reconciliation Report
Cost to be accounted for

Costs accounted for as follows

 Step 1: Equiv. Units of Prod.

nitial inventory WIP

Materials Conversion
Materials

Conversion

0 0

Step 2: Cost per Equiv. Unit

0 0

#DIV/0! #DIV/0!

Step 3: Assign cost to Units

Materials Conversion Total
Equiv. units of prod
Cost per equiv. unit #DIV/0! #DIV/0!
Cost of ending WIP inventory #DIV/0! #DIV/0! #DIV/0!

Cost of initial inventory WIP

Cost to complete units in initial

inventory WIP
 Equiv. units needed to complete initial 0 0
inventory
Cost per equiv. unit #DIV/0! #DIV/0!

Cost to complete units in initial

inventory WIP #DIV/0! #DIV/0! #DIV/0!

Cost of units started and completed

Units started AND completed during the period

0 0
Cost per equiv. unit #DIV/0! #DIV/0!

Cost of units started and completed #DIV/0! #DIV/0! #DIV/0!

Total cost of units transferred out #DIV/0!

Step 4: Cost Reconciliation Report

Cost of initial inventory WIP $ -

(+) Costs added during the period $ -
Total cost to be accounted for $ -

Cost of ending inventory WIP #DIV/0!

(+) Cost of units transferred out #DIV/0!
Total cost accounted for #DIV/0!