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Problem 6-58 |
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Insert your answers in the gray-shaded cells of columns C, E, G, and I. If an answer is |
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incorrect, an asterisk will appear. |
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a. |
Always Christmas Cutting Dept. |
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Cost of Production Report |
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For the Month of October 31, 2010 |
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Production Data: |
Units |
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Beginning inventory |
8,000 |
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Units started |
36,000 |
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Units to account for |
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Units |
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Material |
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Conversion |
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Beginning WIP inventory |
8,000 |
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8,000 |
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8,000 |
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Started & completed |
32,400 |
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32,400 |
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32,400 |
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Ending WIP inventory |
3,600 |
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3,600 |
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2,520 |
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Units accounted for |
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Cost Data: |
Total |
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Material |
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Conversion |
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Beginning WIP inventory |
$ 3,73,000 |
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$ 2,93,000 |
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$ 80,000 |
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Current costs |
26,72,440 |
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13,79,000 |
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12,93,440 |
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Total costs to account for |
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Divided by EUP |
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44,000 |
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42,920 |
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Cost per EUP |
$ – |
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$ – |
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Cost Assignment: |
Units |
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Cost |
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Transferred out |
40,400 |
x |
$ 70.00 |
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* |
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Ending inventory: |
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Materials |
3,600 |
x |
$ 38.00 |
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Conversion |
2,520 |
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$ 32.00 |
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* |
– |
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Total cost accounted for |
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$ – |
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b. |
Always Christmas Boxing Dept. |
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Cost of Production Report |
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For the Month of October 31, 2010 |
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Production Data: |
Units |
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Beginning WIP inventory |
2,500 |
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Units started |
40,400 |
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Units to account for |
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Units |
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Trans. In |
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Material |
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Conversion |
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Beginning WIP inventory |
2,500 |
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2,500 |
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2,500 |
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2,500 |
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Started & completed |
39,200 |
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39,200 |
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39,200 |
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39,200 |
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Ending WIP inventory |
1,200 |
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1,200 |
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– |
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840 |
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Units accounted for |
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Cost Data: |
Total |
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Trans. In |
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Material |
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Conversion |
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Cost in BI |
$ 1,73,413 |
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$ 1,66,420 |
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$ – |
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$ 6,993 |
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Current costs |
34,57,760 |
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28,28,000 |
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3,83,640 |
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2,46,120 |
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Total to account for |
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Divided by EUP |
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42,900 |
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41,700 |
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42,540 |
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Cost per EUP |
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Cost Assignment: |
Units |
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Cost |
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Transferred out |
41,700 |
x |
$ 84.95 |
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* |
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Ending inventory: |
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Materials |
1,200 |
x |
$ 69.80 |
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* |
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Conversion |
840 |
x |
$ 5.95 |
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* |
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Total cost accounted for |
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