1. Able Inc. uses the weighted-average method in its process costing system.

The
following data concern the operations of the company's first processing department
for a recent month.

Work in process, beginning:

Units in process ................................ 300
Stage of completion with respect to materials ... 60%
Stage of completion with respect to conversion .. 30%
Costs in the beginning inventory:
Materials cost ................................ P342
Conversion cost ............................... P2,394

Units started into production during the month .... 21,000

Units completed and transferred out ............... 20,700

Costs added to production during the month:

Materials cost .................................. P44,136
Conversion cost ................................. P546,750

Work in process, ending:

Units in process ................................ 600
Stage of completion with respect to materials ... 80%
Stage of completion with respect to conversion .. 30%

Required:

Prepare a production report for the department using the weighted-average method.

2. Barker Inc. uses the weighted-average method in its process costing system. The
following data concern the operations of the company's first processing department
for a recent month.

Work in process, beginning:

Units in process ................................ 800
Stage of completion with respect to materials ... 50%
Stage of completion with respect to conversion .. 20%
Costs in the beginning inventory:
Materials cost ................................ P2,440
Conversion cost ............................... P4,928

Units started into production during the month .... 15,000

Units completed and transferred out ............... 15,600

Costs added to production during the month:

Materials cost .................................. P96,470
Conversion cost ................................. 476,362

Work in process, ending:

Units in process ................................ 200
Stage of completion with respect to materials ... 50%
Stage of completion with respect to conversion .. 90%

Required:

Using the weighted-average method:

a. Determine the equivalent units of production for materials and conversion costs.
b. Determine the cost per equivalent unit for materials and conversion costs.
c. Determine the cost of units transferred out of the department during the month.
d. Determine the cost of ending work in process inventory in the department.
3. Darver Inc. uses the FIFO method in its process costing system. The following
data concern the operations of the company's first processing department for a
recent month.

Work in process, beginning:

Units in process .................................. 100
Stage of completion with respect to materials ..... 80%
Stage of completion with respect to conversion .... 60%
Costs in the beginning inventory:
Material cost ................................... P376
Conversion cost.................................. P2,376

Units started into production during the month....... 21,000

Units completed and transferred out.................. 20,400

Costs added to production during the month:

Material cost ..................................... P93,645
Conversion cost.................................... P825,531

Work in process, ending:

Units in process .................................. 700
Stage of completion with respect to materials ..... 70%
Stage of completion with respect to conversion .... 50%

Required:

Prepare a production report for the department using the FIFO method.

4. Easy Inc. uses the FIFO method in its process costing system. The following data
concern the operations of the company's first processing department for a recent
month.

Work in process, beginning:

Units in process ................................ 300
Stage of completion with respect to materials ... 60%
Stage of completion with respect to conversion .. 80%
Costs in the beginning inventory:
Materials cost ................................ P594
Conversion cost ............................... P8,256

Units started into production during the month .... 26,000

Units completed and transferred out ............... 25,500

Costs added to production during the month:

Materials cost .................................. P79,732
Conversion cost ................................. P887,626

Work in process, ending:

Units in process ................................ 800
Stage of completion with respect to materials ... 50%
Stage of completion with respect to conversion .. 40%

Required:

Using the FIFO method:

a. Determine the equivalent units of production for materials and conversion costs.
b. Determine the cost per equivalent unit for materials and conversion costs.
c. Determine the cost of units transferred out of the department during the month.
d. Determine the cost of ending work in process inventory in the department.
PROBLEM 1

1. Weighted Average method:

Quantity schedule and equivalent units

Quantity
Schedule
Units to be accounted for:
Work in process, beginning ..... 300
Started into production ........ 21,000
Total units .................. 21,300

Equivalent units
Materials Conversion
Units accounted for as follows:
Transferred to next department 20,700 20,700 20,700
Work in process, ending ........ 600 480 180
Total units ................. 21,300 21,180 20,880

Costs per equivalent unit

Total
Cost Materials Conversion
Cost to be accounted for:
Work in process, beginning.... P2,736 P342 P2,394
Cost added during the month...P590,886 P44,136 P546,750
Total cost (a) .............P593,622 P44,478 P549,144

Equivalent units (above) (b) ... 21,180 20,880

Cost per EU, (a) ÷ (b) ......... P2.100 P26.300
Combined cost per EU ........... P28.400

Cost reconciliation
Total Equivalent Units (above)
Cost Materials Conversion
Cost accounted for as follows:
Transferred out ........ P587,880 20,700 20,700
Work in process, ending:
Materials ............ P1,008 480
Conversion ........... P4,734 180
Total work in process,
ending ................. P5,742
Total cost ............... P593,622
PROBLEM 2

a.Quantity schedule and equivalent units

Quantity
Schedule
Units to be accounted for:
Work in process, beginning ..... 800
Started into production ........ 15,000
Total units ...................... 15,800

Equivalent units
Materials Conversion
d.
Units accounted for as follows:
Transferred to next department 15,600 15,600 15,600
Work in process, ending ....... 200 100 180
Total units ................. 15,800 15,700 15,780

Costs per equivalent unit

Total
Cost Materials Conversion
Cost to be accounted for:
Work in process, beginning .. P7,368 P2,440 P4,928
Cost added during the month . P572,832 P96,470 P476,362
Total cost (a) ............ P580,200 P98,910 P481,290

Equivalent units (above) (b) .. 15,700 15,780

Cost per EU, (a) ÷ (b) ........ P6.300 P30.500
Combined cost per EU .......... P36.800

Cost reconciliation
Total Equivalent Units (above)
Cost Materials Conversion
Cost accounted for as follows:
Transferred out ............. P574,080 15,600 15,600
Work in process, ending:
Materials ................. P630 100
Conversion ................ P5,490 180
Total work in process, ending . P6,120
Total cost .................... P580,200
PROBLEM 3

Quantity Schedule and Equivalent Units

Quantity
Schedule
Units to be accounted for:
Work in process, beginning ..... 100
Started into production ........ 21,000
Total units .................. 21,100

Equivalent units
Materials Conversion

Units accounted for as follows:

Transferred out:
From the beginning inventory... 100 20 40
Started and completed ......... 20,300 20,300 20,300
Work in process, ending ........ 700 490 350
Total units ................. 21,100 20,810 20,690

Costs per equivalent unit

Total
Cost Materials Conversion
Cost to be accounted for:
Work in process, beginning... P2,752
Cost added during the month.. P919,176 P93,645 P825,531
Total cost (a)............. P921,928

Equivalent units (above) (b)... 20,810 20,690

Cost per EU, (a) ÷(b).......... P4.5 P39.9
Combined cost per EU........... P44.4

Cost Reconciliation/all cost must be accounted

Total Equivalent Units (above)
Cost Materials Conversion
Cost accounted for as follows:
Transferred out:
From the beginning inventory:
Cost in the beginning inventory. P2,752
Cost to complete these units:
Materials .................... P90 20
Conversion ................... P1,596 40
Total cost ................. P4,438
Units started and completed....... P901,320 20,300 20,300
Total cost transferred............ P905,758
Work in process, ending:
Materials ...................... P2,205 490
Conversion ..................... P13,965 350
Total work in process, ending... P16,170
Total cost...................... P921,928
PROBLEM 4

Quantity Schedule and Equivalent Units

Quantity
Schedule
Units to be accounted for:
Work in process, beginning ..... 300
Started into production ........ 26,000
Total units .................. 26,300

Equivalent units
Materials Conversion
d.
Units accounted for as follows:
Transferred out:
From the beginning inventory 300 120 60
Started and completed ...... 25,200 25,200 25,200
Work in process, ending ...... 800 400 320
Total units ............... 26,300 25,720 25,580

Costs Per Equivalent Unit

Total
Cost Materials Conversion
Cost to be accounted for:
Work in process, beginning ... P8,850
Cost added during the month .. P967,358 P79,732 P887,626
Total cost (a) ............. P976,208

Equivalent units (above) (b) ... 25,720 25,580

Cost per EU, (a) ÷ (b) ......... P3.10 P34.70
Combined cost per EU ........... P37.80

Cost Reconciliation
Total Equivalent Units (above)
Cost Materials Conversion
Cost accounted for as follows:
Transferred out:
From the beginning inventory:
Cost in the beginning inventory P8,850
Cost to complete these units:
Materials ................... P372 120

Conversion .................. P2,082 60

Total cost ................ P11,304
Units started and completed .... P952,560 25,200 25,200
Total cost transferred ......... P963,864

Work in process, ending:

Materials ..................... P1,240 400
Conversion .................... P11,104 320
Total work in process, ending. P12,344
Total cost ..................... P976,208