Title: Problem 20-3B
QA_Ori:
Part 1
a.
May 31 Raw Materials Inventory……………………………………………221,120
b.
May 31 Goods in Process Inventory………………………………………197,120
c.
May 31 Factory Overhead…………………………………………………….40,560
d.
May 31 Factory Payroll………………………………………………………..160,000
e.
May 31 Goods in Process Inventory………………………………………123,680
f.
May 31 Factory Overhead…………………………………………………….36,320
g.
May 31 Factory Overhead…………………………………………………….34,432
h.
May 31 Goods in Process Inventory………………………………………111,312
i.
j.
Part 2
OSLO COMPANY
Process Cost Summary – Weighted Average Method
For Month Ended May 31
Costs Charged to Production
Costs of beginning goods in process
Unit cost information
Units to account for Units accounted for
Units of ending goods in process
Direct materials (3,000 x 100%)……………..3,000 EUP
Direct labor (3,000 x 25%)…………………….. 750 EUP
Factory overhead (3,000 x 25%)…………….
__________ __________ 750 EUP
EUP
EUP
Cost assignment and reconciliation
Costs transferred out
Direct materials (13,000 EUP x $12.50 per EUP)…….. $162,500
Part 3
If equivalent units of production for the production department’s ending inventory
Units transferred to finished goods are, of course, 100% complete with respect to
Title: Problem 20-4B
QA_Ori:
Part 1
BRAUN COMPANY
Process Cost Summary – Weighted Average Method
For Month Ended November 30
Costs Charged to Production
Costs of beginning goods in process
Direct materials…………………………………………………………. $ 6,800
Direct labor……………………………………………………………….. 5,800
Unit cost information
Units to account for Units accounted for
Equivalent units of production
Direct
Materials
Direct
Labor
Factory
Overhead
Cost per EUP
Direct
Materials
Direct Labor Factory
Overhead
EUP
EUP
EUP
[Continued on next page]
Cost assignment and reconciliation
Costs transferred out
Direct materials (100,000 EUP x $1.10 per EUP)…….. $110,000
Part 2
Nov. 30 Finished Goods Inventory…………………………………………1,160,000