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Materials:: PROBLEM 12-8 1. Equivalent Units of Production - Molding Department

The document provides cost of production reports for the molding and finishing departments. It shows the beginning work-in-process, materials, labor, and overhead costs added during the month, costs transferred out to finished goods, and ending work-in-process. For the molding department, 3,900 units were started during the month, with 4,100 units transferred out and 500 units ending as work-in-process. For the finishing department, 4,100 units were transferred in from the prior department, with 4,140 units transferred out and 380 units ending as work-in-process.

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Gileah Ymalay Zuasola
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56 views7 pages

Materials:: PROBLEM 12-8 1. Equivalent Units of Production - Molding Department

The document provides cost of production reports for the molding and finishing departments. It shows the beginning work-in-process, materials, labor, and overhead costs added during the month, costs transferred out to finished goods, and ending work-in-process. For the molding department, 3,900 units were started during the month, with 4,100 units transferred out and 500 units ending as work-in-process. For the finishing department, 4,100 units were transferred in from the prior department, with 4,140 units transferred out and 380 units ending as work-in-process.

Uploaded by

Gileah Ymalay Zuasola
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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PROBLEM 12-8

1. Equivalent Units of Production – Molding Department:

Materials:

Transferred out:
From BWIP: (700 x 0%) -0-

From SIP 3,400 3,400

Ending WIP: (500 x 100%) 500

EUP 3, 900

Labor:

Transferred out:
From BWIP: (700 x 45%) 315

From SIP 3,400 3,715


Ending WIP: (500 x 60%) 300

EUP 4,015

Overhead:

Transferred out:
From BWIP: (700 x 30%) 210

From SIP 3,400 3,610


Ending WIP: (500 x 75%) 375

EUP 3,985

2. Equivalent Units of Production – Finishing Department:

Materials:

Transferred Out:
From BWIP: (420 x 50%) 210

From SIP 3,720 3,930


Ending WIP: (380 x 25%) 95

EUP 4,025
Labor:

Transferred Out:
From BWIP: (420 x 60%) 252

From SIP 3,720 3,972


Ending WIP: (380 x 25%) 95

EUP 4,067

Overhead:

Transferred Out:
From BWIP: (420 x 60%) 252

From SIP 3,720 3,972


Ending WIP: (380 x 25%) 95

EUP 4,067
3. Molding Department

Cost of Production Report

Month of June 2018

Quantity Schedule Units

Beginning WIP 700

Started in process 3,900

Total to be accounted for 4,600

Transferred out:

From BWIP 700

From SIP 3,400 4,100

Ending WIP 500

Total accounted for 4,600

Cost Schedule Total Costs EUP Unit Costs

Beginning WIP P 11,918.20


Costs added in current month:

Materials 36,660.00  3,900 = P 9.40

Labor 24,090.00  4,015 = 6.00

Overhead 26,221.30  3,985 = 6.58

Total costs to be accounted for P 98,889.50 P21.98

Transferred out:

From BWIP:

Cost in BWIP P 11,918.20


Cost added in current month:

Labor 1,890.00 = 315  P 6.00

Overhead 1,381.00 = 210  6.58

Total BWIP 15,190.00

From SIP 74,732.00 = 3,400  21.98


Total cost transferred out 89,922.00

Ending WIP

Materials 4,700.00 = 500  9.40

Labor 1,800.00 = 300  6.00

Overhead 2,467.50 = 375  6.58

Total Ending WIP 8,967.50

Total costs accounted for P 98,889.50

4. Finishing Department

Cost of Production Report

Month of June 2018

Quantity Schedule Units

Beginning WIP 420


Transferred In from prior department 4,100

Total to be accounted for 4,520

Transferred Out:

From BWIP 420


From Transferred In 3,720 4,140

Ending WIP 380

Total accounted for 4,520

Cost Schedule Total Costs EUP Unit Costs

Beginning WIP P10,232.04

Transferred In costs this month 89,922.00 ÷ 4,100 = P21.93220

Cost added this month:

Material 4,025.00 ÷ 4,025 = 1.00

Labor 16,186.66 ÷ 4,067 = 3.98

Overhead 8,050.00 ÷ 4,067 = 1.97935

Total costs to be accounted for P128,415.70 P28.89155

Transferred Out:

From BWIP:
Cost of BWIP P 10,232.04

Cost added in current month:

Material 210.00 = 210 x P 1.00

Labor 1,002.96 = 252 x 3.98

Overhead 498.80 = 252 x 1.97935

Total cost of BWIP 11,943.80

From Transferred In 107,476.57 = 3,720 x 28.89155


Total costs transferred to Finished Goods P119,420.32*

Ending WIP:

Transferred In P 8,334.24 = 380 x 21.93220

Cost added:

Material 95.00 = 95 x 1.00

Labor 378.10 = 95 x 3.98

Overhead 188.04 = 95 x 1.97935

Total cost of EWIP 8,995.38

Total costs accounted for P 128,415.70

5. Work in process – Finishing Department 89,922.00

Work in process – Molding Department 89,922.00

Finished Goods Inventory 119,420.22

Work in process – Finishing Department 119,420.22

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