Exercise 4-10 (10 minutes)
Weighted-Average Method
Materials
Labor &
Overhead
Pounds transferred to the Packing Department
Exercise 4-12 (20 minutes)
Weighted-Average Method
1. Computation of equivalent units in ending inventory:
Materials
Labor
Overhead
Equivalent units of production …
2. Cost of ending work in process inventory and units transferred out:
Materials
Labor
Overhead
Total
Ending work in process inventory:
Units completed and transferred out:
3. Cost reconciliation:
Total cost to be accounted for ………………………
$640,880
Costs accounted for as follows:
Supplement
FIFO Method
Exercise 4S-1 (10 minutes)
FIFO Method
Materials
Conversion
To complete beginning work in process:
Units started and completed during October* ……
Ending work in process:
Equivalent units of production ……………………….
Exercise 4S-2 (10 minutes)
FIFO method
Materials
Labor
Overhead
Cost added during May (a) …………….
$193,320
$62,000
$310,000
Cost per equivalent unit for materials
Cost per equivalent unit for overhead
Exercise 4S-3 (15 minutes)
Materials
Conversion
Total
Ending work in process inventory:
Equivalent units of production ……………
400
200
Cost per equivalent unit ……………………
$2.32
$0.75
Cost of ending work in process inventory
$928
$150
$1,078
Units transferred out:
Cost in beginning inventory ……………….
$650
$3,850
1,200
$900
$2,292
Total cost of units transferred out ……….
$79,822
Exercise 4S-4 (10 minutes)
Mixing Department
Cost Reconciliation
Costs to be accounted for:
Cost of beginning work in process inventory .
$ 1,460
Costs added to production during the period .
36,540
Total cost to be accounted for ………………….
$38,000
Costs accounted for as follows:
Cost of ending work in process inventory ……
$ 3,120
Cost of units completed and transferred out ..
*
Total cost accounted for ………………………….
Exercise 4S-5 (10 minutes)
Materials
Conversion
To complete beginning work in process:
Ending work in process
Equivalent units of production …………………………..
Exercise 4S-6 (15 minutes)
FIFO Method
Materials
Labor &
Overhead
To complete the beginning work in process:
Materials: 20,000 pounds × (100% − 100%) ……..
0
Ending work in process:
Equivalent units of production …………………………..
Exercise 4S-7 (20 minutes)
FIFO Method
1.
Materials
Labor
Overhead
To complete beginning work in process:
Materials: 5,000 units ×
(100% − 80%) …………………………
1,000
Overhead: 5,000 units ×
(100% − 60%) …………………………
Ending work in process:
Equivalent units of production …………..
2.
Materials
Labor
Overhead
Cost added during the period (a) ……….
$52,800
$21,500
$32,250
Equivalent units of production (b) ………
Cost per equivalent unit (a) ÷ (b) ………
Exercise 4S-8 (15 minutes)
FIFO Method
1.
Tons of Pulp
Work in process, June 1 ……………………………………
20,000
Started into production during the month ……………..
Total tons in process ………………………………………..
Deduct work in process, June 30 …………………………
Completed and transferred out during the month ……
2.
Equivalent Units
Materials
Labor and
Overhead
To complete beginning work in process:
Ending work in process:
Equivalent units of production ……………….
Exercise 4S-9 (45 minutes)
FIFO Method
1. Computation of the total cost per equivalent unit of production:
Cost per equivalent unit of production for material ………….
Cost per equivalent unit of production for conversion ………
Total cost per equivalent unit of production …………………..
2. Computation of equivalent units in ending inventory:
Materials
Conversion
Equivalent units of production (a) × (b) …
3. Computation of equivalent units required to complete the beginning
inventory:
Materials
Conversion
Units in beginning inventory (a) …………..
%
%
4.
Units transferred to the next department …………
3,100
Units from the beginning inventory …………………
Units started and completed during the period ….
2,700
Exercise 4S-9 (continued)
5.
Materials
Conversion
Total
Ending work in process inventory:
Equivalent units of production …………………………..
210
180
Cost per equivalent unit …………………………..
$25.40
$18.20
Units transferred out:
$2,032
$4,368
Cost of units started and completed
$25.40
$18.20
$117,720
Total cost of units transferred out …………………………..
$135,160
Cost of ending work in process
Problem 4S-10A (45 minutes)
FIFO method
1.
Equivalent Units of Production
Materials
Conversion
To complete beginning work in process:
Ending work in process:
Equivalent units of production ………………………
2.
Cost per Equivalent Unit
Materials
Conversion
Cost added during the period (a) …………..
Equivalent units of production (b) ………….
Cost per equivalent unit (a) ÷ (b) ………….
3. See the next page.
4.
Cost Reconciliation
Costs to be accounted for:
Costs added to production during the period
Costs accounted for as follows:
Cost of beginning work in process inventory
Problem 4S-10A (continued)
3.
Costs of Ending Work in Process Inventory and Units Transferred Out
Materials
Conversion
Total
Ending work in process inventory:
Equivalent units of production ………………………………………….
20,000
8,000
Cost per equivalent unit ………………………………………………….
$1.48
Units transferred out:
Cost in beginning work in process inventory ……………………….
$8,500
7,000
$10,360
Cost of units started and completed this period:
$1.48
$123,000
$345,000
$368,760
Problem 4S-11A (45 minutes)
FIFO method
1.
Equivalent Units of Production
Materials
Conversion
To complete beginning work in process:
Ending work in process:
Equivalent units of production ………………………
2.
Cost per Equivalent Unit
Materials
Conversion
Cost added during the period (a) …………..
Equivalent units of production (b) ………….
Cost per equivalent unit (a) ÷ (b) ………….
3. See the next page.
4.
Cost Reconciliation
Costs to be accounted for:
Costs added to production during the period
Costs accounted for as follows:
Cost of beginning work in process inventory
Problem 4S-11A (continued)
3.
Costs of Ending Work in Process Inventory and Units Transferred Out
Materials
Conversion
Total
Ending work in process inventory:
Equivalent units of production ………………………………………….
40,000
10,000
Cost per equivalent unit ………………………………………………….
Units transferred out:
Cost in beginning work in process inventory ……………………….
$24,800
Cost of units started and completed this period:
$260,400
$476,000
$533,700
Problem 4S-12A (60 minutes)
1.
Transferred In
Materials
Conversion
To complete beginning work in process:
Transferred in: 450 units × (100% − 100%) ………………
0
Materials: 450 units × (100% − 100%) …………………….
Ending work in process:
Transferred in: 600 units x 100% complete
Materials: 600 units x 0% complete …………………………
Equivalent units of production …………………………………….
Cost added during the period (a) …………………………………
Equivalent units of production (b) ………………………………..
Cost per equivalent unit (a) ÷ (b) ………………………………..
Problem 4S-12A (continued)
Transferred In
Materials
Conversion
Total
Ending work in process inventory:
Equivalent units of production ……………………..
600
0
210
Cost per equivalent unit ……………………………..
$9.20
$4.60
$8.00
Cost of ending work in process inventory ……….
$1,680
Units transferred out:
Cost in beginning work in process inventory …..
$2,160
0
180
$9.20
$4.60
$8.00
$1,440
Cost of units started and completed this period:
1,350
1,350
1,350
$12,420
Cost of units transferred out ……………………….
2. The unit cost in the report prepared by the new assistant controller is high because none of the cost