NAME: Wamilda, Judea Harmony L.

DATE: May 13 , 2024

EXERCISE 2: JOURNAL ENTRIES

a. Work in Process – Dept. A ₱37,500
Work in Process – Dept. B 27,100
FOH Control 1,500
Stores ₱66,100
To record materials used
b. Work in Process – Dept. A 12,000
Work in Process – Dept. B 8,000
FOH Control 7,500
Payroll 27,500
To record payroll
c. Work in Process – Dept. A 8,000
Work in Process – Dept. B 7,000
FOH Applied 15,000
To record factory overhead applied
d. Work in Process – Dept. B 50,000
Work in Process – Dept. A 50,000
To record goods completed and transferred out to Dept. B
f. Finished Goods 86,000
Work in Process – Dept. B 86,000
To record goods completed & transferred to FG

EXERCISE 3: ASSIGNMENT OF UNITS COSTS

a 30,000 (₱8.00 X 1/2) ₱ 120,000.00
)

b 25,000 (₱8.00) 200,000.00

)
25,000 (₱7.00 X 1/5) 35,000.00
₱ 235,000.00

c) 12,000 (₱8.00) ₱ 96,000.00

12,000 (₱7.00) 84,000.00
12,000 (₱12.00 X 1/3) 48,000.00
228,000.00
EXERCISE 4: EQUIVALENT UNITS OF PRODUCTION – EVEN APPLICATION OF COSTS

Case A: Placed in process 20,000 units

In process, end 6,000 units, 1/3 done

Work Done Equivalent

Actual This Month Production
In Process, Nov. 1 0
Placed In Process 20,000
Units to be Accounted for 20,000

Placed In Process, finished,

and transferred to stockroom 14,000 100% 14,000
In Process, end 6,000 1/3 2,000
Units accounted for 20,000 16,000

Case B: In process, beginning 4,000 units, 1/4 done

Placed in process 30,000 units
In process, end 5,000 units, 1/10 done

Work Done Equivalent

Actual This Month Production
In Process, Nov. 1 4,000
Placed In Process 30,000
Units to be Accounted for 34,000

In Process, Beg, Finished 4,000 3/4 3,000

Placed In Process, finished,
and transferred to stockroom 25,000 100% 25,000
In Process, end 5,000 1/10 500
Units accounted for 34,000 28,500

Case C: In process, beginning 6,000 units

Stage of completion 30%
Placed in process 50,000 units
In process end 9,000 units
Stage of completion 1/9

Work Done Equivalent

Actual This Month Production
In Process, Nov. 1 6,000
 Placed In Process 50,000
Units to be Accounted for 56,000

In Process, Beg, Finished 6,000 70% 4,200

Placed In Process, finished,
and transferred to stockroom 41,000 100% 41,000
In Process, end 9,000 1/9 1,000
Units accounted for 56,000 46,200

Case D:
Units No. of days processed
In process, beginning 8,000 3 days
Placed in process 60,000
In process, end 9,000 5 days

Length of manufacturing process = 15 days

Work Done Equivalent

Actual This Month Production
In Process, Nov. 1 8,000
Placed In Process 60,000
Units to be Accounted for 68,000

In Process, Beg, Finished 8,000 4/5 6,400

Placed In Process, finished,
and transferred to stockroom 51,000 100% 51,000
In Process, end 9,000 1/3 3,000
Units accounted for 68,000 60,400

Case E: Transferred out 24,000 units

In process, end 6,000 units, 2/3 done
In process, beginning 2,000 units, 1/5 done
Placed in process 28,000

Work Done Equivalent

Actual This Month Production
In Process, Nov. 1 2,000
Placed In Process 28,000
Units to be Accounted for 30,000

In Process, Beg, Finished 2,000 4/5 1,600

 Placed In Process, finished,
and transferred to stockroom 22,000 100% 22,000
In Process, end 6,000 2/3 4,000
Units accounted for 30,000 27,600

Case F: Transferred out 35,000 units

Finished goods on floor 200 units
In process, beginning 9,000 units, 1/3 done
In process, end 5,000 units, 1/5 done
Placed in process 26,000

Work Done Equivalent

Actual This Month Production
In Process, Nov. 1 9,000
Placed In Process 31,000
Units to be Accounted for 40,000

In Process, Beg, Finished 9,000 2/3 6,000

Placed In Process, finished,
and transferred to stockroom 26,000 100% 26,000
In Process, end 5,000 1/5 1,000
Units accounted for 40,000 33,000

Case G: In process, beg 5,000 units, 1/10 done

Placed in process 17,000 units
Transferred out 18,000 units
Finished and on hand 300 units
In process, end 4,000 units, 1/8 done

No. of units in process (end) is equal to 80% of that in beginning of work in process

Work Done Equivalent

Actual This Month Production
In Process, Nov. 1 5,000
Placed In Process 17,000
Units to be Accounted for 22,000

In Process, Beg, Finished 5,000 9/10 4,500

Placed In Process, finished,
and transferred to stockroom 13,000 100% 13,000
In Process, end 4,000 1/8 500
Units accounted for 22,000 18,000
EXERCISE 5: EQUIVALENT PRODUCTION – CONSECUTIVE DEPARTMENTS
Compute for the equivalent units of production in each of the following cases:

CASE A:
Department I Department II

In process, Sept. 1 8,000 units 5,000 units

Stage of completion 1/4 1/10

Placed in process 50,000 units

In process, Sept. 30 6,000 units 12,000

Stage of completion 1/5 1/6

Case A
Department A Department B

Work Done Equivalent Work Done Equivalent

Actual This Month Production Actual This Month Production
In Process, Sept. 1 8,000 5,000
Placed In Process 50,000
Received from preceding dept. 52,000

Units to be accounted for 58,000 57,000

In Process, Sept. 1, finished

and transferred 8,000 3/4 6,000 5,000 9/10 4,500
Placed in Process, finished and
transferred 44,000 100% 44,000
Received, finished, and
transferred 40,000 100% 40,000
CASE B:
Department X Department Y

In process, Oct. 1 3,000 units 2,000 units

Stage of completion 1/3 1/5

Transferred to Dept. 26,000 units

In process, Oct. 31 4,000 units 7,000

Stage of completion 1/5 2/7

Case B
Department A Department B
Work Done Equivalent Work Done Equivalent
Actual This Month Production Actual This Month Production
In Process, Oct. 1 3,000 2,000
Placed In Process 27,000
Received from preceding dept. 26,000

Units to be accounted for 30,000 28,000

In Process, Oct. 1, finished and

transferred 3,000 2/3 2,000 2,000 4/5 1,600
Placed in Process, finished and
transferred 23,000 100% 23,000
 Received, finished, and
transferred 19,000 100% 19,000
In process, Oct. 31 4,000 1/5 800 7,000 2/7 2,000
Units Accounted For 30,000 25,800 28,000 22,600

CASE C:
Department A Department B

In process, Nov. 1 10,200 8,000 units

Stage of completion 1/5 1/8

Transferred to stockroom 38,000 units

Placed in process 35,000 units

In process, Nov. 30 12,000 units 3,200 units

Stage of completion 1/3 1/10

Case C
Department A Department B
Work Done Equivalent Work Done Equivalent
Actual This Month Production Actual This Month Production
In Process, Oct. 1 10,200 8,000
Placed In Process 35,000
Received from preceding dept. 33,200

Units to be accounted for 45,200 41,200

In Process, Oct. 1, finished and

transferred 10,200 4/5 8,160 8,000 7/8 7,000
Placed in Process, finished and
transferred 23,000 100% 23,000
Received, finished, and
transferred 30,000 100% 30,000
In process, Oct. 31 12,000 1/3 4,000 3,200 1/10 320
Units Accounted For 45,200 35,160 41,200 37,320
EXERCISE 6: COST OF PROFUCTION REPORT – EVEN APPICATION OF COSTS
a. Cost of production report supported by the schedule of equivalent production.
Bohol Manufacturing Corporation
Cost of Production Report
For the month ended August 31, 19H
Costs to be Accounted For
Factory Costs
Materials ₱23,760.00 ÷ 72000 ₱0.33
Labor ₱15,840.00 ÷ 72000 ₱0.22
Factory Overhead ₱12,240.00 ÷ 72000 ₱0.17
₱51,840.00
In process, Aug. 1 ₱1,110.00
Total Unit Cost ₱0.72
Total Cost to be accounted for ₱52,950.00

Cost Accounted for as follows

Transferred to stockroom 66,000 units
In process, Aug 1, finished & transferred 8,000 units
Cost, last month ₱1,110.00
Cost, this month ₱4,320.00
₱5,430.00
Placed in Process, finished & transferred 58,000 units ₱41,760.00
₱47,190.00
In process, Aug. 31 12,000 units ₱5,760.00
Total Cost Accounted for ₱52,950.00

Schedule of Equivalent Production

Department A
Work Done Equivalent
Actual
This Month Production
In Process, Aug. 1 8,000
Placed In Process 70,000
Units to be accounted for 78,000

In Process, Aug. 1, finished & transferred 8,000 3/4 6,000

Placed in Process, finished & transferred 58,000 58,000
In process, Aug. 31 12,000 2/3 8,000
Units Accounted For 78,000 72,000

b. T-account for work in process

WORK IN PROCESS
19H 19H
₱47,190.0
Aug 1-31 Balance ₱1,110.00 Aug 1-31 To finished goods 0
₱23,760.0
Materials 0
 ₱15,840.0
Labor 0
₱12,240.0
Factory Overhead 0
₱5,760.00
a. T-account for Work in Process – Department Y
Work In Process - Department Y

1-
b. Journal entries
Work in Process – Dept. Y 105,000
Work in Process – Dept. X 105,000
To record transfer of goods
Work in Process – Dept. Y 30,820
Materials 20,770
Payroll 8,375
Factory Overhead Applied 1,675
To record factory costs
Finished Goods 129,690
Work in Process – Dept. Y 129,690
To record goods completed