Problem 6-54

Insert your answers in the gray-shaded cells of columns C, E, G and I.

If an answer is incorrect, an asterisk will appear.

a.

Phunky Phingers

Cost of Production Report

For the Month of November 2010

Production Data:

Units

Beginning WIP inventory

         12,000

Units started

         90,000

Units to account for

Units

Materials

Labor

Overhead

Beginning WIP inventory

         12,000

         12,000

       12,000

         12,000

Started & completed

         70,000

         70,000

       70,000

         70,000

Ending WIP inventory

         20,000

         20,000

         8,000

         16,000

Units accounted for

Cost Data:

Total

Materials

Labor

Overhead

Beginning WIP inventory

$      19,564

$      13,020

$      1,908

$        4,636

Current cost

      2,06,616

         90,000

       45,792

         70,824

Cost to account for

Divided by EUP

      1,02,000

              –  

                 –  

Cost per EUP

$             –  

Cost Assignment:

Transferred out

      1,89,420

Ending inventory:

  Material

$           –  

  Direct Labor

#VALUE

##

  Overhead

#VALUE

##

Total cost accounted for

b.

Phunky Phingers

Cost of Production Report

For the Month of November 2010

Production Data:

Units

Beginning WIP inventory

         12,000

Units started

         90,000

Units to account for

Units

Materials

Labor

Overhead

Beginning WIP inventory

         12,000

                –  

         8,400

           4,800

Started & completed

       (32,000)

*

         70,000

       70,000

         70,000

Ending WIP inventory

         20,000

         20,000

         8,000

         16,000

Units accounted for

                –  

Cost Data:

Total

Materials

Labor

Overhead

Beginning WIP inventory

$      19,564

Current costs

      2,06,616

$      90,000

$    45,792

$      70,824

Cost to account for

Divide by EUP

                –  

       86,400

                 –  

Cost per EUP

Cost Assignment:

Transferred out:

Beginning WIP inventory

$    19,564

Complete beginning WIP

  Direct labor

              –  

  Overhead

#VALUE

##

Started & completed

#VALUE

##

Ending inventory:

  Material

#VALUE

##

  Direct labor

              –  

  Overhead

#VALUE

##

Total cost accounted for

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