Copy , Paste copy . Format Painter |1-1·A- Clipboard Font Alignment A1 | Chapter

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Copy , Paste copy . Format Painter |1-1·A- Clipboard Font Alignment A1 | Chapter 4: Applying Excel Chapter 4: Applying Excel 3 Data Work in process, beginning 5 Units in process 6 Completion with respect to materials 200 55% 30% 7 Completion with respect to conversion 8 Costs in the beginning inventory 9,600 $5,575 5,000 9 Materials cost 101 conversion cost 11 Units started into production during the period 12 Costs added to production during the period: 13 Materials cost 14 Conversion cost 15 Work in process, ending 16 Units in process 17 Completion with respect to materials 18 Completion with respect to conversion 19 20 Enter a formula into each of the cells marked with a ? below 21 $368,600 S350,900 400 40% 25% 22 Weighted Average method: 23 24 25 26 Units transferred to the next department Equivalent Units of Production Materials Conversion 27 Ending work in process 28Materials 29 Conversion 80 Equrvalent units of production -b H. Chapter 4 Form : Ready

Explanation / Answer

*In weightage mehod,opening % of completion of cost is irrelvent.

Equivalent units Step-1 Step-2 Flow of production Physical units Direct Material Conversion Cost WIP-Beginning units                                 200 Started during current period                              5,000 Unit to account for                              5,200 Units completed & transferred out                              4,800                              4,800                      4,800 Units, ending WIP                                 400 (400*0)(400*0.4)(400*0.25)                                 160                         100 Accounted for Equivalent units of output                              5,200                              4,960                      4,900 Degree of completion of ending WIP                                      0                             0 Direct Material Conversion Cost Total cost Step 3 WIP_Begining                              9,600                              5,575                    15,175 Cost added during the period                          368,600                          350,900                 719,500 Total costs to account for                          378,200                          356,475                 734,675 Step 4 Cost incurred to date                          378,200                          356,475 Divided by -Equivalent units                              4,960                              4,900 Cost per equivalent                                   76                                   73 Step 5 Assignment of costs: Completed & transferred out 4800*76.25=366000 4800*72.75=349200                 715,200 WIP-Closing units 160*76.25=12200 100*72.75=7275                    19,475 Total cost accounted for                          378,200                          356,475                 734,675 Cost Reconciliation Direct Material Conversion Cost Total cost to Account for                          378,200                          356,475 Total cost accounted for                          378,200                          356,475

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