Practise Exercise 19.

5A

a) Balance on the job cost sheets Using Data from 19.1A,19.2A dan 19-4A
Direct Materials 19.1A
Feb-08 Materials 576000
Account Payable 576000

Feb-19 Work in Process 520000

Account Payable* 520000
*Job 60 224000
*Job 61 296000
520000

Direct Labor 19.2A

Work in Process 837000
Wages Payable* 837000
*Job 60 360000
*job 61 477000
837000
19.4A
Factory Overhead
a) 5.5 per direct labor hour
b) Job 60 82500
Job 61 99000
181500
c) Work in Process 181500
Factory Overhead 181500

PE 19.5a Job Cost

Job 60 Job 61
a. Direct Materials 224000 296000
Direct Labor 360000 477000
Factory overhead 82500 99000
Total Cost 666500 872000

b. job 60 $ 26.66
job 61 $ 27.25

PE 19.3A Factory Overhead costs

Factory Overhead 186000

Materials 34000
Wages payable 81000
Utilities Payable 10000
Accumulated Depreciation Factory 61000
Exercise/Problem Series
19-18
Journalize the summary entry to record each of the following for the month
a Work in Process
Wages Payable

b Work in Process
Account payable

c Work in Process 70% of media purchases

Factory Overhead

d Completion of Starks Bank and Finley Airlines campaigns

Starks Bank
On june 1 balance 180000
Direct labor 126000
Media Purchases 472500
Factory overhead 330750
Total Job Cost 1109250
Factory Overhead Starks Bank 70%*472500
Factory Overhead Finley Airlines 70%*416500

Cost of completed Job $ 1,927,550.00

Finished Goods
Work in Process
 711000
711000

1420000
1420000

994000
994000

Finley Airlines
54000
56250
416500
291550
818300

$ 1,927,550.00
$ 1,927,550.00
PE 18-5A

a) For January,determine the cost of goods manufactured and the cost of goods sold

Work in Process inventory,Januari 1

Cost of Direct materials used in production
Direct Labor
Factory Overhead
Total manufacturing costs incurred during January
Total manufacturing costs
Less work in process inventory,Januari 31
Cost of goods manufactured

b) the cost of goods sold

Finished goods inventory,January 1
Cost of goods manufactured
Cost of finished goods available for sale
Less finished goods inventory,January 31
Cost of goods sold

EX 9,14,15

EX 18-9
a) CHATERJEE MANUFACTURING COMPANY
Income statement
For the month ended January 31,2014

Sales 450000
Cost of good sold 280000
Gross profit 170000
Operating Expenses :
Selling expenses 65400
administrative expense
54600
120000
Net income 50000

b) Inventory balances at the end of the first month of operations

Materials

Purchased of materials- direct materials 95200

 67200
Work in Process
Direct materials +Direct labor wages + factory overhead-transferred
WIP to finished goods
67200 128800 151200 303800

Finished Goods Inventory

Transfereed WIP to finished goods-CGS
 PE 18-5B

70000 Work in Process inventory,July 1

16800 Cost of Direct materials used in production 67200
43400 Direct Labor 88000
28000 Factory Overhead 44800
88200 Total manufacturing costs incurred during January
158200 Total manufacturing costs
74200 Less work in process inventory,July 31
84000 Cost of goods manufactured

29400 Finished goods inventory,July 1 37600

84000 Cost of goods manufactured 203200
113400 Cost of finished goods available for sale 240800
33600 Less finished goods inventory,July 31 27200
79800 Cost of goods sold 213600

EX 18-14
Income Statement for a manufacturing company

Finished goods inventory,november 1 52800 39600

Cost of goods manufactured 282000 183600
Cost of finished goods avalaible for sale 334800 223200
Finished goods inventory,november 30 62400 52800
Cost of goods sold 272400 170400

Beg.finished goods + Cost of goods manufactured = Cost of finished goods avalaible for
sale - ending finished goods inventory = CGS

EX.15

a) Prepare a cost of goods manufactured statement for May 2014

ns
TIWANA MANUFACTURING COMPANY
28000 Statement of Cost of Goods Manufactured

For the Month Ended May 31, 2014

 Work in process inventory ,May 1, 2014

Direct materials :
43400
Materials Inventory , May 1 2014 210000
Purchases 403200
23800 Cost of Materials avalaible for use 613200
Less Materials inventory ,May 31,2014 184800
Cost of direct materials used in production
Direct labor
Factory Overhead :
Indirect Labor 40320
Machinery depreciation 24000
Heat,lights and power 8400
Supplies 6720
Property taxes 5880
Miscellaneous costs 10920
Total Factory Overhead
Total manufacturing costs incurred
Total manufacturing costs
Less work in process inventory ,May 31, 2014
Cost of goods manufactured

b) Determine the cost of goods sold for May 2014

Finished goods inventory May 1, 2014

Cost of goods manufactured
Cost of finished goods avalaible for sale
Less finished goods inventory, May 31 2014
Cost of goods sold
 32800

200000
232800
29600
203200

36800
323200
360000
17600
342400

d goods avalaible for

 142800

428400
378000

96240
902640
1045440
159600
885840

109200
885840
995040
126000
869040
PE 20.3A

Inventory in process,beginning of period

Started and completed during the period*
Transferred out of Filling(completed)
Inventory in process,end of period
Total Unit to be assigned costs
40400 3000

PE.4A

Inventory in process,beginning of period

Started and completed during the period*

Transferred out of Fillling(completed)
Inventory in process,end of period
Total Unit to be assigned costs
40400 3000

PE 7A
a) Journalize the cost of transferred in materials,conversion costs,the cost transferred out to finished goods
b) Determine the balance of Work in Process-Bottliing at the end of the period

a) Work in Process-Filling
Work in Process-Blending
Materials
Work in Process-Filling
Factory Overhead-Fillling
Wages Payable
Finished Goods
Work in Process-Fillling
b) Beginning Inventory 1200
The cost of materials 13300
The conversion cost for the period 3100
Total Cost transferred to finished goods 17378
Work in Process-Filling in the end of period 222

EX 20-18
a
1 The materials charged to production
Work in process Casting Department 350000
Materials Alloy
2 The conversion costs charged to production
Work in process Casting Department 49600
Wages payable
Factory Overhead Casting Department*
*150%*19840
 PE.5A
Percents Determine the direct materials and conversion costs p
Total whole Units Materials added Equivalent Units
in Period For Direct
Materials
3000 0% 0 Direct Materials Cost Per Equivalent Unit
37400 100% 37400 $ 13,300.00
40400 − 37400 Conversion Cost per Equivalent Unit
600 100% 600 $ 3,100.00
41000 38000

PE.6A

Percents
Total whole Units Materials addedEquivalent Units
in Period For Direct
Materials
3000 40% 1200 Inventory in process,beginning of period
Inventory in process,beginning of period*
37400 100% 37400 Started and completed during the period**
40400 − 38600 Transferred out of Filling(completed)
600 25% 150 Inventory in process,end of period
41000 38750 Total Costs assigned by the bottling Department
Completed and transferred out of production
Inventory in proceess,ending
**Direct Materials the cost per equivalent unit
*Conversion the cost per equivalent unit

nished goods

13300
5000
8300
3100
11000
2000
17378
17378
350000

19840
29760
termine the direct materials and conversion costs per equivalent unit

rect Materials Cost Per Equivalent Unit $ 0.35

38000 ounces
nversion Cost per Equivalent Unit $ 0.08
38750 ounces

Determine the cost of units transferred out and the ending work in process inventory

Direct
Conversion
Materials
Cost
Cost

ventory in process,beginning of period

ventory in process,beginning of period* 0 96
arted and completed during the period** 13090 2992
ansferred out of Filling(completed)
ventory in process,end of period 210 12
tal Costs assigned by the bottling Department
mpleted and transferred out of production $ 4,392
ventory in proceess,ending $ 222
**Direct Materials the cost per equivalent unit 0.35 37400 600
*Conversion the cost per equivalent unit 0.08 1200 37400 150
 Total Cost

2100
96
2196
$ 4,392
222
$ 4,614
Practice Exercise

PE 7-1A
Determine the gross profit for February and ending inventory on February 28 using
Assume that one unit is sold on February 28 75000

Item Alpha Units Cost

Feb 9 Purchase 1 Rp 40,000
17 Purchase 1 Rp 42,000
26 Purchase 1 Rp 44,000
3 Rp 126,000
Rp 42,000
Gross Profit Ending Inventory
a. FIFO Rp 35,000 Rp 86,000
b. LIFO Rp 31,000 Rp 82,000
C. Average Rp 33,000 Rp 84,000

PE 7-2A
Assuming a perpetual inventory system and using FIFO
May 1 Inventory 45 Rp 120,000
9 Sale 30
13 Purchase 60 Rp 31,000
28 Sale 18

a. The cost of merchandise sold on May 28

15 Rp 120,000 Rp 1,800,000
3 Rp 130,000 Rp 390,000
18 Rp 2,190,000
b. Inventory,May 31
57 Rp 130,000 Rp 7,410,000

PE 7-5A

Jan 1 Inventory 24 Rp 135,000 Rp 3,240,000

7 Purchase 36 Rp 150,000 Rp 5,400,000
23 Purchase 30 Rp 162,000 Rp 4,860,000
90 Rp 13,500,000

There are 23 units of the item in the pysical Inventory at December 31.
The periodic inventory system is used. Determine the inventory cost using
a. FIFO Rp 3,726,000
b.LIFO Rp 3,105,000
c. Weighted average cost Rp 3,450,000 average cost Rp 150,000
 PE 7-3B
Assuming a perpetual inventory system using LIFO

Mar 1 Inventory
8 Sale
15 Purchase
27 Sale

a. The cost of merchandise sold on March 27

Rp 4,800,000
b. Inventory March 31
45 Rp 18,000
135 Rp 20,000
180

PE 7-4A
Assuming a perpetual inventory system and using the weighted average method
July 1 Inventory
8 Sale
15 Purchase
27 Sale

a. The weighted average unit cost after the July 15 purchase

40 Rp 60,000
120 Rp 75,000
160
Weighted average cost units

b. The cost of the merchandise sold on July 27

c. The inventory on July 31

EX 7-8
 Purchase Cost of merchand
Date
Quantity Unit Cost Total Cost Quantity
1-Jan
18-Mar 800
2 May 1800 155000 Rp 279,000,000
9-Aug 1500

20 Oct 700 160500 Rp 112,350,000

EX 7-11 based EX 7-9

Date Purchase Cost of merchand

quantity unit cost total cost quantity

1-Jan
19-Apr 5000
30-Jun
12000 48000 Rp 576,000,000

2-Sep 9000

15-Nov 2000 50000 Rp 100,000,000

EX 7-13

a. FIFO 12 Des,purchase 30 840000

30 Aug,purchase 18 816000
Inventory,31 Des 48 unit

b.LIFO 1 jan,inventory 42 720000

10 Mar,purchase 6 780000
inventory,31 des 48

c. Average Average Cost Total Cost units avalaible for sale

Units available for sale
 Inventory,31 Des Rp 30,182,400
merchandise sold Rp 64,137,600

EX 7-7
a.FIFO
Purchase Cost of Merchand
Quantity Unit Cost Total Cost Quantity

24
80 420000 Rp 33,600,000

12
48
75 440000 Rp 33,000,000

32
23

Total Cost of the ending Inventory Rp 22,880,000

b. LIFO Purchase Cost of Merchand

Quantity Unit Cost Total Cost Quantity

24
80 420000 33600000

60

75 440000 33000000

55

Total Cost of the ending Inventory Rp 22,000,000

al inventory system using LIFO

270 Rp 18,000
225
375 Rp 20,000
240

Rp 810,000
Rp 2,700,000
Rp 3,510,000

the weighted average method

100 Rp 60,000
60
120 Rp 75,000
84

Rp 2,400,000
Rp 9,000,000
Rp 11,400,000
Rp 71,250

Rp 5,985,000
76 Rp 5,415,000
 Cost of merchandise Sold Inventory

Unit Cost total Cost quantity Unit Cost total Cost

1000 150000 Rp 150,000,000
150000 Rp 120,000,000 200 150000 Rp 30,000,000
2000 Rp 154,500 Rp 309,000,000
Rp 154,500 Rp 231,750,000 500 Rp 154,500 Rp 77,250,000

1200 Rp 158,000 Rp 189,600,000

Rp 351,750,000
Cost of Merchandise sold Rp 351,750,000
The inventory balance 1200 unit Rp 189,600,000

Cost of merchandise sold Inventory

unit cost total cost quantity unit cost total cost

8000 40000 Rp 320,000,000
40000 Rp 200,000,000 3000 40000 Rp 120,000,000
3000 40000 Rp 120,000,000
12000 48000 Rp 576,000,000
48000 Rp 432,000,000 3000 40000 Rp 120,000,000
3000 48000 Rp 144,000,000
3000 40000 Rp 120,000,000
3000 48000 Rp 144,000,000
2000 50000 Rp 100,000,000
Rp 632,000,000
Cost of Merchandise sold Rp 632,000,000
the inventory balance 8000 Rp 364,000,000

Rp 25,200,000 Begin Inventory 1 Jan 42 720000

Rp 14,688,000 Purchase 10 Mar 58 780000
Rp 39,888,000 30 Aug 20 816000
12-Dec 30 84000
Cost of merchan for sale 150
ending inventory 31 Des
merchandise sold

Rp 30,240,000 Cost of merchan for sale Rp 94,320,000

Rp 4,680,000 inventory,31 des Rp 34,920,000
Rp 34,920,000 merchandise sold Rp 59,400,000

units avalaible for sale Rp 94,320,000 Rp 628,800 per unit

available for sale 150
Cost of Merchandise sold Inventory
Unit cost Total Cost Quantity Unit Cost Total Cost
36 400000 Rp 14,400,000
400000 Rp 9,600,000 12 400000 Rp 4,800,000
12 400000 Rp 4,800,000
80 420000 Rp 33,600,000
400000 Rp 4,800,000
420000 Rp 20,160,000 32 420000 Rp 13,440,000
32 420000 Rp 13,440,000
75 440000 Rp 33,000,000
420000 Rp 13,440,000
440000 Rp 10,120,000
Rp 58,120,000 52 440000 Rp 22,880,000

Cost of Merchandise sold Inventory

Unit Cost Total Cost Quantity Unit Cost Total Cost
36 400000 Rp 14,400,000
400000 Rp 9,600,000 12 400000 Rp 4,800,000
12 400000 Rp 4,800,000
80 420000 Rp 33,600,000
420000 Rp 25,200,000 12 400000 Rp 4,800,000
20 420000 Rp 8,400,000
12 400000 Rp 4,800,000
20 420000 Rp 8,400,000
75 440000 Rp 33,000,000
440000 Rp 24,200,000 12 400000 Rp 4,800,000
Rp 59,000,000 20 420000 Rp 8,400,000
20 440000 Rp 8,800,000
52 Rp 22,000,000
Rp 30,240,000
Rp 45,240,000
Rp 16,320,000
Rp 2,520,000
Rp 94,320,000
Rp 39,888,000
Rp 54,432,000