Ex 6-11 Name:
1) Select the appropriate accounts from the pull-down menus in the shaded cells in columns B and C.
Enter the appropriate amounts in the shaded cells in columns I and J.
2) Enter the appropriate amounts in the shaded cells in columns C, D, F, G, I, J, and L.
T-accounts
WIP — Mixing
WIP — Encapsulating
WIP — Bottling
Finished Goods
Journal Entries
Ex 6-11 Name:
1) Select the appropriate accounts from the pull-down menus in the shaded cells in columns B and C.
Enter the appropriate amounts in the shaded cells in columns I and J.
64,800
64,800
2) Enter the appropriate amounts in the shaded cells in columns C, D, F, G, I, J, and L.
86,400 64,800 64,800 126,000 126,000 194,400 194,400
Work in Process — Encapsulating
Work in Process — Mixing
SOLUTION
WIP — Bottling
Finished Goods
Journal Entries
T-accounts
WIP — Mixing
WIP — Encapsulating
Work in Process — Encapsulating
Finished Goods
Work in Process — Bottling
Work in Process — Bottling
SOLUTION
Equivalent units of output
SOLUTION
Prob 6-31 Name:
Enter the appropriate amounts in the shaded cells in columns E and K.
1) Physical Flow Schedule Units
Units, beginning work in process
Units started
Units to account for –
Units completed and transferred out
Units, ending work in process
Total units accounted for
Enter the appropriate amounts in the shaded cells in columns E, G, I, K and M.
2) Equivalent Units – Weighted average method Materials Conversion
Units completed and transferred out
Units, ending work in process
Materials x
Conversion x
Equivalent units of output
3) Costs to account for and cost per unit Materials Conversion Total
Costs in beginning work in process
Costs added during the month
Divided by: Equivalent units of output
Cost per unit
4) Cost accounted for
Costs transferred out:
x
Costs in ending work in process:
Material x
Conversion x
Total cost accounted for
Reconciliation:
Costs to account for: Costs accounted for:
Beginning WIP Transferred out
Current Ending WIP
Total Total
Enter the appropriate accounts in columns B and C and the appropriate amounts in column G and I.
5)
Prob 6-31 Name:
Enter the appropriate amounts in the shaded cells in columns E and K.
1) Physical Flow Schedule Units
Units, beginning work in process 40,500
Units started 94,500
Enter the appropriate amounts in the shaded cells in columns E, G, I, K and M.
2) Equivalent Units – Weighted average method Materials Conversion
Units completed and transferred out 121,500 121,500
Units, ending work in process
3) Costs to account for and cost per unit Materials Conversion Total
Costs in beginning work in process 1,215,000$ 372,600$ 1,587,600$
Costs added during the month 2,565,000 5,871,150 8,436,150
4) Cost accounted for
Costs transferred out:
121,500 x 78.00$ 9,477,000$
Costs in ending work in process:
Material 13,500 x 28.00$ 378,000$
Work in Process – Cutting
Enter the appropriate accounts in columns B and C and the appropriate amounts in column G and I.
5)
9,477,000
SOLUTION
Work in Process – Welding
Prob 6-32 Name:
Enter the appropriate amounts in the shaded cells in columns E and K.
1) Physical Flow Schedule Units
Units, beginning work in process
Units started
Units to account for –
Units completed and transferred out
Units, ending work in process
Total units accounted for
Enter the appropriate amounts in the shaded cells in columns E, G, I, and K.
2) Equivalent Units – FIFO method Materials Conversion
Units started and completed – –
Units, beginning work in process to complete
Materials x 0%
Conversion x
Units, ending work in process
Materials x
Conversion x
Equivalent units of output
3) Costs to account for and cost per unit Materials Conversion Total
Unit Cost:
Costs added
Divided by: Equivalent units of output
Cost per unit
4) Cost accounted for:
Costs transferred out:
Beginning WIP +
To complete beginning WIP x
Started and completed x
Total
Costs in ending work in process:
Material x
Conversion x =
Reconciliation:
Costs to account for: Costs accounted for:
Beginning WIP Transferred out
Current Ending WIP
Total Total
Prob 6-32 Name:
Enter the appropriate amounts in the shaded cells in columns E and K.
1) Physical Flow Schedule Units
Units, beginning work in process 40,500
Units started 94,500
Enter the appropriate amounts in the shaded cells in columns E, G, I, and K.
2) Equivalent Units – FIFO method Materials Conversion
Units started and completed 81,000 81,000
Units, beginning work in process to complete
Materials 40,500 x 0%
3) Costs to account for and cost per unit Materials Conversion Total
Unit Cost:
Costs added 2,565,000$ 5,871,150$
4) Cost accounted for:
Costs transferred out:
Beginning WIP $1,215,000 +$372,600 $1,587,600
To complete beginning WIP 32,400 x$50.277 1,628,975
SOLUTION