Problem 6-58

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.

Always Christmas Cutting Dept.

Cost of Production Report

For the Month of October 31,  2010

Production Data:

Units

Beginning inventory

            8,000

Units started

          36,000

Units to account for

Units

Material

Conversion

Beginning WIP inventory

            8,000

            8,000

           8,000

Started & completed

          32,400

          32,400

         32,400

Ending WIP inventory

            3,600

            3,600

           2,520

Units accounted for

Cost Data:

Total

Material

Conversion

Beginning WIP inventory

$    3,73,000

$    2,93,000

$      80,000

Current costs

     26,72,440

     13,79,000

    12,93,440

Total costs to account for

Divided by EUP

          44,000

         42,920

Cost per EUP

$              –  

$              –  

Cost Assignment:

Units

Cost

Transferred out

          40,400

x

$         70.00

*

Ending inventory:

   Materials

            3,600

x

$         38.00

*

   Conversion

            2,520

x

$         32.00

*

                   –  

Total cost accounted for

$                –  

b.

Always Christmas Boxing Dept.

Cost of Production Report

For the Month of October 31,  2010

Production Data:

Units

Beginning WIP inventory

            2,500

Units started

          40,400

Units to account for

Units

Trans. In

Material

Conversion

Beginning WIP inventory

            2,500

            2,500

           2,500

             2,500

Started & completed

          39,200

          39,200

         39,200

           39,200

Ending WIP inventory

            1,200

            1,200

                 –  

                840

Units accounted for

Cost Data:

Total

Trans. In

Material

Conversion

Cost in BI

$    1,73,413

$    1,66,420

$              –  

$          6,993

Current costs

     34,57,760

     28,28,000

      3,83,640

        2,46,120

Total to account for

Divided by EUP

          42,900

         41,700

           42,540

Cost per EUP

Cost Assignment:

Units

Cost

Transferred out

          41,700

x

$         84.95

*

Ending inventory:

   Materials

            1,200

x

$         69.80

*

   Conversion

               840

x

$           5.95

*

Total cost accounted for

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