Preview

Seatwork

Good Essays
Open Document
Open Document
311 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Seatwork
Class,

Here's a copy of the problem we solved last time as a seatwork. Practice solving this problem.

See you tomorrow.

Thanks,
Mr. Paulo Dalaota

-------------------------------

ABC Company produces various kinds of candy and accumulates costs using process costing. The following information is provided under the Mixing department for the month of August:
Whole Units
Work in Process, August 1 40,000 gallons
Units Started and Completed this Period 60,000 gallons
Units Completed and transferred out during August 100,000 gallons
Work in Process, August 31 20,000 gallons Product Costs Work in Process, August 1 Php 347,280
Costs incurred during August
Direct Materials Cost Php 96,000
Conversion Cost Php 784,400 Percentage of Completion – Conversion
Work in Process, August 1 80%
Work in Process, August 31 30%
For numbers 1-5
Use First In–First Out (FIFO) cost method in completing the following requirements:
1. Determine the number of whole units to be accounted for and to be assigned costs for August.
2. Determine the equivalent units of production for materials and conversion for the Mixing Department.
3. Determine the cost

You May Also Find These Documents Helpful

  • Satisfactory Essays

    ¼ hours (20,000 x 60)/80,000 = 15 minutes 3. How many units were produced in the second quarter? 120,000 units Problem 7-54: Plantwide versus Departmental Rates, Product-Costing Accuracy: Activity-Based Costing, page 330-331 See Attached File…

    • 98 Words
    • 1 Page
    Satisfactory Essays
  • Better Essays

    Waltham Motors Case

    • 863 Words
    • 4 Pages

    2. Using budget data, what was the total expected cost per unit if all manufacturing and…

    • 863 Words
    • 4 Pages
    Better Essays
  • Powerful Essays

    Final Accounting

    • 1555 Words
    • 5 Pages

    As reflected in the Production Budget captured in Exhibit B below and included in the overall Peyton Approved budget worksheet included in Appendix A. First budgeted sales units for each month in the quarter was used to multiply with ratio to inventory future sales to compute budgeted ending inventory. The company stated that it was company's policy to have a given month's ending finished goods inventory to equal 70% of the next month's expected unit sales. Then, budgeted sales units of 18,000, 22,000 and 20,000 units are added to the budgeted ending inventory units of 15,400, 14,000 and 16,800 units for the month of July, August and September, respectively to arrive to required units to be produced of 33,400, 36,000 and 36,800 units for each respective months. Subsequently, beginning inventory is deducted from required…

    • 1555 Words
    • 5 Pages
    Powerful Essays
  • Satisfactory Essays

    Acct 505 Week 4

    • 258 Words
    • 2 Pages

    3. Perform a Cost Analysis. (Title this section Cost Analysis.) The costs should include the following:…

    • 258 Words
    • 2 Pages
    Satisfactory Essays
  • Satisfactory Essays

    To record the costs incurred in cutting department for producing 48,000 mat sets in the month of May…

    • 408 Words
    • 4 Pages
    Satisfactory Essays
  • Satisfactory Essays

    accounting week 4 answers

    • 469 Words
    • 5 Pages

    (c) What is the unit conversion cost for May? (Round unit costs to 2 decimal places, e.g. 2.25.)…

    • 469 Words
    • 5 Pages
    Satisfactory Essays
  • Powerful Essays

    Exercise 3-13. Costing Units Completed and Ending Work in Process [LO 2,3,4] At the start of November, Penco Refinery had Work in Process inventory consisting of 4,000 units that were 90 percent complete with respect to materials and 50 percent complete with respect to conversion costs. The cost of the units was $38,000 ($25,000 of material cost and $13,000 of labor and overhead). During November, the company started 44,000 units and incurred $421,970 of material cost and $394,880 of labor and overhead. The company completed 45,000 units during the month, and 3,000 units were in process at the end of November. The units in ending Work in Process were 85 percent complete with respect to materials and 45 percent complete with respect to conversion costs.…

    • 533 Words
    • 3 Pages
    Powerful Essays
  • Satisfactory Essays

    Complete the table below. The first row has been filled in for you as an example.…

    • 867 Words
    • 4 Pages
    Satisfactory Essays
  • Good Essays

    practice exam 2

    • 663 Words
    • 7 Pages

    If materials are added at the beginning of the production process, what is the total…

    • 663 Words
    • 7 Pages
    Good Essays
  • Satisfactory Essays

    Complete the table below. The first row has been filled in for you as an example.…

    • 276 Words
    • 2 Pages
    Satisfactory Essays
  • Satisfactory Essays

    Date 3/1 3/4 3/8 3/18 3/25 Activity Beg. Inventory Purchase Sale Purchase Sale Units 10 20 22 24 18 $/Unit x $10 x $13 x $20 x $17 x $25 Total = $100 = $260 = $440 = $408 = $700…

    • 969 Words
    • 4 Pages
    Satisfactory Essays
  • Satisfactory Essays

    L.L. Bean Case Study

    • 664 Words
    • 3 Pages

    Question 2: What item costs and revenues are relevant to the decision of how many units of…

    • 664 Words
    • 3 Pages
    Satisfactory Essays
  • Good Essays

    Classic Pen

    • 645 Words
    • 3 Pages

    The company overall has the same profitability under ABC system compared to the traditional costing system. The costs were allocated differently to each item. Some individual pen colors (Blue and Black) are more profitable than others (Red and Purple)…

    • 645 Words
    • 3 Pages
    Good Essays
  • Good Essays

    Soverign Lodge

    • 1618 Words
    • 7 Pages

    2. For each alternative from question 1, list the annual expenses that are incremental to that decision alternative but are not related to the room/days occupied, i.e. the incremental fixed costs for each alternative.…

    • 1618 Words
    • 7 Pages
    Good Essays
  • Satisfactory Essays

    acc203 tma question 2

    • 474 Words
    • 3 Pages

    Weighted-Average Method of Process Costing, Assembly Department of nanotech pte ltd , for June 20X9…

    • 474 Words
    • 3 Pages
    Satisfactory Essays