Scribd
Upload
124 views27 pages

Delos Reyes 3BSA3 P Q1 No. 1

The document contains cost of production reports for the cleaning, assembly, and finishing departments. It shows beginning and ending work-in-process quantities and costs, materials and conversion costs incurred, and costs transferred between departments. The cleaning department transferred 120,000 units to assembly at a cost of $355,130. Assembly transferred 89,000 units to finishing at a cost of $763,657.

Uploaded by

salamat lang akin
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd
124 views27 pages

Delos Reyes 3BSA3 P Q1 No. 1

The document contains cost of production reports for the cleaning, assembly, and finishing departments. It shows beginning and ending work-in-process quantities and costs, materials and conversion costs incurred, and costs transferred between departments. The cleaning department transferred 120,000 units to assembly at a cost of $355,130. Assembly transferred 89,000 units to finishing at a cost of $763,657.

Uploaded by

salamat lang akin
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd
You are on page 1/ 27

1.

)
Inventory (in units) CLEANING % of Completion ASSEMBLY
Mat CC
Work-In-Process, beginning 60,000 0% 25% 25,000
Started / Transferred In 100,000 120,000
Transferred Out 120,000 89,000
Work-In-Process, end 40,000 0% 10% 56,000

Costs
Materials
Beginning 87,000 146,200
Incurred 132,000 99,500

Conversion Costs
Beginning 39,800 177,000
Incurred 100,000 184,000

ANSWERS:

1A.)
CLEANING DEPARTMENT
Cost of Production Report
For the month of xx

Quantity Schedule Units


(a) Quantity to be Accounted For
Work-In-Process, beginning 60,000
Transferred In 100,000
Total Quantity to be Accounted for 160,000

(b) Quantity Accounted For


Transferred Out to the Next Department 120,000
Work-In-Process, ending 40,000
Total Quantity Accounted for 160,000

Cost Schedule
Total Cost Equivalent
( c ) Costs to be Accounted For
Materials ₱ 219,000 120,000
Conversion Cost 139,800 124,000
Total Costs to be Accounted For ₱ 358,800

( d ) Cost Accounted For


Transferred Out ₱ 354,290 120,000
Work-In-Process, end
Materials 0 0
Conversion Cost 4,510 4000
Total Work-In-Process 4,510

Total Cost Accounted For ₱ 358,800

ASSEMBLY DEPARTMENT
Cost of Production Report
For the month of xx

Quantity Schedule Units


(a) Quantity to be Accounted For
Work-In-Process, beginning 25,000
Transferred In 120,000
Total Quantity to be Accounted for 145,000

(b) Quantity Accounted For


Transferred Out to the Next Department 89,000
Work-In-Process, ending 56,000
Total Quantity Accounted for 145,000

Cost Schedule
Total Cost Equivalent
( c ) Costs to be Accounted For
Transferred In ₱ 354,290 145,000
Materials 245,700 89,000
Conversion Cost 361,000 106,920
Total Costs to be Accounted For ₱ 960,990

( d ) Cost Accounted For


Transferred Out ₱ 763,657 89,000
Work-In-Process, end
Cost from Prior Dept. 136,829 56,000
Materials 0 0
Conversion Cost 60,504 17,920
Total Work-In-Process 60,504

Total Cost Accounted For ₱ 960,990

FINISHING DEPARTMENT
Cost of Production Report
For the month of xx

Quantity Schedule Units


(a) Quantity to be Accounted For
Work-In-Process, beginning 90,000
Transferred In 89,000
Total Quantity to be Accounted for 179,000

(b) Quantity Accounted For


Transferred Out to the Next Department 74,500
Work-In-Process, ending 104,500
Total Quantity Accounted for 179,000

Cost Schedule
Total Cost Equivalent
( c ) Costs to be Accounted For
Transferred In ₱ 763,657 179,000
Materials 232,050 179,000
Conversion Cost 80,200 168,550
Total Costs to be Accounted For ₱1,075,907

( d ) Cost Accounted For


Transferred Out ₱ 449,863 74,500
Work-In-Process, end
Cost from Prior Dept. 445,822 104,500
Materials 135,471 104,500
Conversion Cost 44,751 94,050
Total Work-In-Process 626,044

Total Cost Accounted For ₱1,075,907

1B.)
CLEANING DEPARTMENT
Cost of Production Report
For the month of xx

Quantity Schedule Units


(a) Quantity to be Accounted For
Work-In-Process, beginning 60,000
Transferred In 100,000
Total Quantity to be Accounted for 160,000

(b) Quantity Accounted For


Transferred Out to the Next Department
From Beginning Work-In-Process 60,000
Started and Completed 60,000 120,000
Work-In-Process, ending 40,000
Total Quantity Accounted for 160,000
Cost Schedule
Total Cost Equivalent
( c ) Costs to be Accounted For
Work-In-Process, beginning ₱ 126,800
Costs Incurred in Current Month
Materials 132,000 120,000
Conversion Cost 100,000 109,000
Total Costs to be Accounted For ₱ 358,800

( d ) Cost Accounted For


Transferred Out
From Beginning WIP Inventory ₱ 126,800
Current Month Costs:
Materials 66,000 60,000
Conversion Cost 41,284 45,000
Costs of Completed beg. WIP ₱ 234,084 60,000
Started and Completed 121,046 60,000
Total Costs Transferred ₱ 355,130 120,000
Work in Process Ending
Costs in this Department
Materials - 0
Conversion Cost 3,670 4,000
Total 3,670

Total Costs Accounted For ₱ 358,800

ASSEMBLY DEPARTMENT
Cost of Production Report
For the month of xx

Quantity Schedule Units


(a) Quantity to be Accounted For
Work-In-Process, beginning 25,000
Transferred In 120,000
Total Quantity to be Accounted for 145,000

(b) Quantity Accounted For


Transferred Out to the Next Department
From Beginning Work-In-Process 25,000
Started and Completed 64,000 89,000
Work-In-Process, ending 56,000
Total Quantity Accounted for 145,000
Cost Schedule
Total Cost Equivalent
( c ) Costs to be Accounted For
Work-In-Process, beginning ₱ 323,200
Costs Incurred in Current Month
Trans-In Costs from Prior Department 355,130 74,500
Materials 99,500 89,000
Conversion Cost 184,000 96,920
Total Costs to be Accounted For ₱ 961,830

( d ) Cost Accounted For


Transferred Out
From Beginning WIP Inventory ₱ 323,200
Current Month Costs:
Materials 27,949 25,000
Conversion Cost 28,477 15,000
Costs of Completed beg. WIP ₱ 379,627 25,000
Started and Completed 382,456 64,000
Total Costs of Transferred Out ₱ 762,082 89,000
Work-in-Process, Ending
Trans-In Costs from Prior Department 165,727 56,000
Costs in this Department
Materials - 0
Conversion Cost 34,021 17,920
Total 34,021

Total Costs Accounted For ₱ 961,830

FINISHING DEPARTMENT
Cost of Production Report
For the month of xx

Quantity Schedule Units


(a) Quantity to be Accounted For
Work-In-Process, beginning 90,000
Transferred In 89,000
Total Quantity to be Accounted for 179,000

(b) Quantity Accounted For


Transferred Out to the Next Department
From Beginning Work-In-Process 90,000
Started and Completed -15,500 74,500
Work-In-Process, ending 104,500
Total Quantity Accounted for 179,000
Cost Schedule
Total Cost Equivalent
( c ) Costs to be Accounted For
Work-In-Process, beginning ₱ 204,900
Costs Incurred in Current Month
Trans-In Costs from Prior Department 927,809
Materials 60,050 89,000
Conversion Cost 47,300 105,550
Total Costs to be Accounted For ₱1,240,059

( d ) Cost Accounted For


Transferred Out ₱ 204,900
From Beginning WIP Inventory
Current Month Costs:
Materials 0 0
Conversion Cost 12,099 27,000
Costs of Completed beg. WIP ₱ 216,999 90,000
Started and Completed - 210,438 -15,500
Total Costs Transferred ₱ 6,561 74,500
Work in Process Ending
Trans-In Costs from Prior Department 927,809
Costs in this Department
Materials 70,508 104,500
Conversion Cost 42,147 94,050
Total 112,655

Total Costs Accounted For ₱1,047,025

1C.
CLEANING DEPARTMENT
Cost of Production Report
For the month of xx

Quantity Schedule Units


(a) Quantity to be Accounted For
Work-In-Process, beginning 60,000
Transferred
Total In to be Accounted
Quantity 100,000
for 160,000

(b) Quantity Accounted


Transferred Out to For
the Next
Department 120,000
Work-In-Process, ending 40,000
Total Quantity Accounted for 160,000
Cost Schedule
Total Cost Equivalent
( c ) Costs to be Accounted For
Materials ₱ 219,000 120,000
Conversion Cost to be
Total Costs 139,800 124,000
Accounted For ₱ 358,800

( d ) Cost Accounted For


Transferred Out ₱ 354,290 ₱ 120,000
Work-In-Process, end
Materials 0 -
Conversion Cost 4,510 4,000
Total Work-In-Process ₱ 4,510

Total Cost Accounted For ₱ 358,800

ASSEMBLY DEPARTMENT
Cost of Production Report
For the month of xx

Quantity Schedule Units


(a) Quantity to be Accounted For
Work-In-Process, beginning 25,000
Transferred In 120,000
Total Quantity to be Accounted for 145,000

(b) Quantity Accounted For


Transferred Out to the Next Department 89,000
Work-In-Process, ending 56,000
Total Quantity Accounted for 145,000

Cost Schedule
Total Cost Equivalent
( c ) Costs to be Accounted For
Transferred In ₱ 354,290 145,000
Materials 245,700 89,000
Conversion Cost 361,000 106,920
Total Costs to be Accounted For ₱ 960,990

( d ) Cost Accounted For


Transferred Out ₱ 763,657 89,000
Work-In-Process, end
Cost from Prior Dept. 136,829 56,000
Materials 0 0
Conversion Cost 60,504 17,920
Total Work-In-Process ₱ 60,504

Total Cost Accounted For ₱ 960,990

FINISHING DEPARTMENT
Cost of Production Report
For the month of xx

Quantity Schedule Units


(a) Quantity to be Accounted For
Work-In-Process, beginning 90,000
Transferred In 89,000
Total Quantity to be Accounted for 179,000

(b) Quantity Accounted For


Transferred Out to the Next Department
From Beginning Work-In-Process 90,000
Started and Completed -15,500 74,500
Work-In-Process, ending 104,500
Total Quantity Accounted for 179,000

Cost Schedule
Total Cost Equivalent
( c ) Costs to be Accounted For
Work-In-Process, beginning ₱ 204,900
Costs Incurred in Current Month
Trans-In Costs from Prior Department 763,657 89,000
Materials 60,050 89,000
Conversion Cost 47,300 105,550
Total Costs to be Accounted For ₱1,075,907

( d ) Cost Accounted For


Transferred Out
From Beginning WIP Inventory ₱ 204,900
Current Month Costs:
Materials 0 0
Conversion Cost 12,099 27,000
Costs of Completed beg. WIP ₱ 216,999 60,000
Started and Completed - 17,404 -15,500
Total Costs Transferred ₱ 199,595 44,500
Work in Process Ending
Trans-In Costs from Prior Department 763,657
Costs in this Department
Materials 70,508 104,500
Conversion Cost 42,147 94,050
Total 112,655

Total Costs Accounted For ₱1,075,907

2.)
Ending Inventory - Average ₱ 626,043.60
Ending Inventory - FIFO ₱ 112,654.66

3.)
Gross Profit - Average
Gross Profit - FIFO
% of Completion FINISHING % of Completion
Mat CC Mat CC
0% 40% 90,000 100% 70%
89,000
74,500
0% 32% 104,500 100% 90%

172,000
60,050

32,900
47,300

Unit Costs

₱ 1.83
1.13
₱ 2.95

₱ 2.95
1.83
₱ 1.13

Unit Costs

₱ 2.44
2.76
₱ 3.38
₱ 8.58

₱ 8.58

2.44
2.76
₱ 3.38
Unit Costs

₱ 4.27
1.30
0.48
₱ 6.04

₱ 6.04

4.27
1.30
₱ 0.48
Unit Costs

₱ 1.10
0.92
₱ 2.02

₱ 1.10
₱ 0.92
₱ 3.90
₱ 2.02
₱ 2.96

₱ 1.10
0.92
Unit Costs

₱ 2.96
1.12
1.90
₱ 5.98

₱ 1.12
1.90
₱ 15.19
5.98
₱ 8.56

₱ 2.96

1.12
1.90
Unit Costs

₱ 12.45
₱ 0.67
0.45
₱ 13.58

₱ 0.67
0.45
2.41
13.58
₱ 0.09

₱ 0.67
₱ 0.45
Unit Costs

₱ 1.83
1.13
₱ 2.95

₱ 2.95

1.83
1.13

Unit Costs

₱ 2.44
2.76
3.38
₱ 8.58

₱ 8.58

2.44
2.76
₱ 3.38

Unit Costs

₱ 8.58
0.67
0.45
₱ 9.70

₱ 0.67
0.45
3.62
1.12
₱ 4.49

₱ 0.67
0.45

Net Sales ₱ 44,700,000


Less: COGS 449,863
Gross Profit ₱ 44,250,137

Net Sales ₱ 41,400,000


Less: COGS
Gross Profit
SOLUTION:
1A.)
CLEANING DEPARTMENT
EUP MATERIALS CC
Transferred Out 120,000 120,000
Add: Work-In-Process, end 0 4,000
120,000 124,000

TOTAL COST
Beginning ₱ 87,000 ₱ 39,800
Add: Incurred 132,000 100,000
₱ 219,000 ₱ 139,800

COST PER UNIT


Total Cost ₱ 219,000 ₱ 139,800
Divide: EUP 120,000 124,000
₱ 1.83 ₱ 1.13

TOTAL COST OF UNITS TRANSFERRED OUT


Transferred Out 120,000
Multiply: Σ of Cost per Units ₱ 2.95
₱ 354,290.32

TOTAL COST OF ENDING WORK-IN-PROCESS


Work-In-Process, end 0 4000
Multiply: Cost per Unit ₱ 1.83 ₱ 1.13
₱ - ₱ 4,509.68

Total Cost Accounted For ₱ 358,800

Total Cost to be Accounted For ₱ 358,800

1B.)
CLEANING DEPARTMENT
Beginning Work-In-Process MATERIAL CC
Work-In-Process, beginning 60,000 60,000
Multiply: 100%-% of Completion 100% 75%
60,000 45,000
Started and Completed
Transferred Out 120,000 120,000
Less: Work-In-Process, beginning 60,000 60,000
60,000 60,000
Ending Work-In-Process
Work-In-Process, ending 40,000 40,000
Multiply: Percentage of Completion 0% 10%
0 4,000
EQUIVALENT UNIT OF PRODUCTION
Beginning Work-In-Process 60,000 45,000
Add: Started and Completed 60,000 60,000
Ending Work-In-Process 0 4,000
120,000 109,000

TOTAL COST ₱ 132,000 ₱ 100,000

COST PER UNIT


Total Cost ₱ 132,000 ₱ 100,000
EUP 120,000 109,000
₱ 1.10 ₱ 0.92

TOTAL COST OF UNITS TRANSFERRED OUT


Beginning Work-In-Process * CPU ₱ 66,000 ₱ 41,284.40
Started and Completed * CPU 66,000 55,045.87
Beginning Cost 87,000 39,800
₱ 219,000 ₱ 136,130.28

TOTAL COST OF ENDING WORK-IN-PROCESS

Work-In-Process, end 0 4,000


CPU ₱ 1.10 ₱ 0.92
₱ - ₱ 3,669.72

Total Cost Accounted For ₱ 358,800

Total Cost to be Accounted For ₱ 358,800

1C.)
CLEANING DEPARTMENT ASSEMBLY DEPARTMENT
EUP MATERIALS CC
Transferred Out 120,000 120,000
Add: Work-In-Process, end 0 4000
120000 124000

TOTAL COST
Beginning ₱ 87,000 ₱ 39,800
Add: Incurred 132,000 100,000
₱ 219,000 ₱ 139,800
COST PER UNIT
Total Cost ₱ 219,000 ₱ 139,800
Divide: EUP 120,000 124,000
₱ 1.83 ₱ 1.13

TOTAL COST OF UNITS TRANSFERRED OUT


Transferred Out 120000
Multiply: Σ of Cost per Units ₱ 2.95
₱ 354,290.32

TOTAL COST OF ENDING WORK-IN-PROCESS


Work-In-Process, end 0 4000
Multiply: Cost per Unit ₱ 1.83 ₱ 1.13
₱ - ₱ 4,509.68

Total Cost Accounted For ₱ 358,800

Total Cost to be Accounted For ₱ 358,800


ASSEMBLY DEPARTMENT FINISHING DEPA
MATERIALS CC TI MATERIALS
89,000 89,000 89,000 74,500
0 17,920 56,000 104,500
89,000 106,920 145,000 179,000

₱ 146,200 ₱ 177,000 ₱ 172,000


99,500 184,000 60,050
₱ 245,700 ₱ 361,000 ₱ 354,290 ₱ 232,050

₱ 245,700 ₱ 361,000 ₱ 354,290 ₱ 232,050


89,000 106,920 145,000 179,000
₱ 2.76 ₱ 3.38 ₱ 2.44 ₱ 1.30

89,000 74,500
₱ 8.58 ₱ 6.04
₱ 763,656.65 ₱ 449,863.05

0 17,920 56,000 104,500


₱ 2.76 ₱ 3.38 ₱ 2.44 ₱ 1.30
₱ - ₱ 60,504.30 ₱ 136,829.37 ₱ 135,470.53

₱ 960,990 ₱ 1,075,907

₱ 960,990 ₱ 1,075,907

ASSEMBLY DEPARTMENT
MATERIAL CC TI
25,000 25,000
100% 60%
25,000 15,000 0

89,000 89,000
25,000 25,000
64,000 64,000 0

56,000 56,000
0% 32%
0 17,920 0

25,000 15,000 0
64,000 64,000 0
0 17,920 0
89,000 96,920 0

₱ 99,500 ₱ 184,000 ₱ 355,130

₱ 99,500 ₱ 184,000 ₱ 355,130


89,000 96,920 120,000
₱ 1.12 ₱ 1.90 ₱ 2.96

₱ 27,949.44 ₱ 28,477.09 ₱ 355,130.00


71,550.56 121,502.27 0.00
146,200 177,000
₱ 245,700.00 ₱ 326,979.36 ₱ 355,130.00

0 17,920 0
₱ 1.12 ₱ 1.90 ₱ 2.96
₱ - ₱ 34,020.64 ₱ -

₱ 961,830

₱ 961,830

ASSEMBLY DEPARTMENT
MATERIALS CC TI
89,000 89,000 89,000 Beginning Work-In-Process
0 17,920 56,000 Work-In-Process, beginning
89,000 106,920 145,000 Multiply: 100%-% of Completion

Started and Completed


₱ 146,200 ₱ 177,000 Transferred Out
99,500 184,000 Less: Work-In-Process, beginning
₱ 245,700 ₱ 361,000 ₱ 354,290
Ending Work-In-Process
Work-In-Process, ending
₱ 245,700 ₱ 361,000 ₱ 354,290 Multiply: Percentage of Completio
89,000 106,920 145,000
₱ 2.76 ₱ 3.38 ₱ 2.44 EQUIVALENT UNIT OF PRODU
Beginning Work-In-Process
Add: Started and Completed
89,000 Ending Work-In-Process
₱ 8.58
₱ 763,656.65
TOTAL COST

0 17,920 56,000 COST PER UNIT


₱ 2.76 ₱ 3.38 ₱ 2.44 Total Cost
₱ - ₱ 60,504.30 ₱ 136,829.37 EUP

TOTAL COST OF UNITS TRANS


Beginning Work-In-Process * CPU
Started and Completed * CPU
Beginning Cost

TOTAL COST OF ENDING WOR


Work-In-Process, end
CPU

₱ 960,990

₱ 960,990
FINISHING DEPARTMENT
CC TI
74,500 74,500
94,050 104,500
168,550 179,000

₱ 32,900
47,300
₱ 80,200 ₱ 763,656.65

₱ 80,200 ₱ 763,656.65
168,550 179,000
₱ 0.48 ₱ 4.27

94,050 104,500
₱ 0.48 ₱ 4.27
₱ 44,751.17 ₱ 445,821.90

FINISHING DEPARTMENT
MATERIAL CC TI
90,000 90,000
0% 30%
0 27,000 0

74,500 74,500
90,000 90,000
-15,500 -15,500 0

104,500 104,500
100% 90%
104,500 94,050 0

0 27,000 0
-15,500 -15,500 0
104,500 94,050 0
89,000 105,550 -

₱ 60,050 ₱ 47,300 ₱ 927,809.36

₱ 60,050 ₱ 47,300 ₱ 927,809


89,000 105,550 74,500
₱ 0.67 ₱ 0.45 ₱ 12.45

₱ - ₱ 12,099.48 ₱ 927,809.36
-10,458.15 -6,946.00 ₱ -
172,000 32,900
₱ 161,541.85 ₱ 38,053.48 ₱ 927,809.36

104,500 94,050 0
₱ 0.67 ₱ 0.45 ₱ 12.45
₱ 70,508.15 ₱ 42,146.52 ₱ -

₱ 1,240,059

₱ 1,240,059

FINISHING DEPARTMENT
MATERIAL CC TI
g Work-In-Process 90,000 90,000
Process, beginning 0% 30%
100%-% of Completion 0 27,000 0

nd Completed
74,500 74,500
rk-In-Process, beginning 90,000 90,000
-15,500 -15,500 0
Work-In-Process
Process, ending 104,500 104,500
Percentage of Completion 100% 90%
104,500 94,050 0
LENT UNIT OF PRODUCTION
g Work-In-Process 0 27,000 0
rted and Completed -15,500 -15,500 0
ing Work-In-Process 104,500 94,050 0
89,000 105,550 -

₱ 60,050 ₱ 47,300 ₱ 763,656.65

₱60,050 ₱47,300 ₱ 763,656.65


89,000 105,550 89,000
₱ 0.67 ₱ 0.45 ₱ 8.58

COST OF UNITS TRANSFERRED OUT


g Work-In-Process * CPU ₱ - ₱ 12,099.48 ₱ 763,656.65
nd Completed * CPU -10,458.15 -6,946.00 ₱ -
172,000 32,900
₱ 161,541.85 ₱ 38,053.48 ₱ 763,656.65

COST OF ENDING WORK-IN-PROCESS


Process, end 104,500 94,050 0
₱ 0.67 ₱ 0.45 ₱ 8.58
₱ 70,508.15 ₱ 42,146.52 ₱ -

₱ 1,075,907

₱ 1,075,907

You might also like