1 2 Problem D A bottling company bottles soft drinks using a process cost system. Following are cost and production data for the mixing department for June: 3 4 Work in Process, June 1 (65% complete for materials; 80% complete for Conversion Costs 56,000 units 56960 Cost of units in beginning inventory: 7 Materials Conversion 9 Units added durning June 10 $11,620 $16,240 13,000 units 12 Cost incurred during current period: 13 Materials 14 Conversion 15 16 17 18 19 20 $29,960 $41,720 Work in Process, June 30 (100% complete for materials; 30% complete for Conversion Costs 63,000 units: 42 points 21 22 Problem D 23 241 26 26 Fill in All Yellow Spaces!! A Bottling Company Process Cost Summary For Month Ended June 30 27 28 Costs Charged to Production 29 Costs of beginning goods in process 30 Direct Materials 31 Conversion Costs (DL + OHD) 11,620 (given) 16.240 $ 27,860 Shaded is formula added for you 32 Costs incurred this period 33 Direct Materials 29.060 34 Conversion Costs (DL + OHD) 41.720 35 Total costs to account for 71,680 Shaded is formula added for you 99,540 Shaded is formula added for you 36 A Costs incurred this penod Total costs to account for Direct Materials Conversion Costs (DL + OHD) Part 1) Compute Number of units completed and transferred out: 29,960 41,720 $ 71,680 Shaded is formula added for you 99,540 Shaded is formula added for you REMEMBER: Beginning Work in Process Units+ Units Started Units Transferred Out Ending Work in Process Units Unit Cost Information Units to account for Beginning goods in process Units started this period a Total units to account for Units accounted for. Completed and transferred out 63,000 Ending goods in process 63.000 Total units accounted for Remember these have to equal. a. Part 2: Compute Equivalent Units of Production. Equivalent Units of Production (EUP) , Units completed and transferred out 100% 2 B Units of ending goods in process 14 Direct materials 6 Conversion Costs (DL+OHD) Units 100,100 16.240 % Complete 7 Equivalent units of production B 9 Part 3: Compute Cost per Equivalent Units of Production. O Cost per Equiv Unit of Production 1 2 Costs of beginning goods in process 3. Costs incurred this period 4 Total costs 5 (divide by) Total Equivalent Units of Prod 6 Cost per Equiv Unit of Production 7 -8 Part 4: Compute Cost of units completed and transferred out and ending inventory. 9 Cost Assignment and Reconciliation "0 EUP Cost per EUP W1 Costs transferred out (cost of goods manufactured) 2 Direct materials 3 Conversion Costs (DL+OHD) 4 5 Costs of ending goods in process 26 Direct materials 27 Conversion Costs (DL+OHD) 28 30. Total enste accounted for DM Conversion Costs (DL + OHD) (see calculation in part 1) DM 70,000 29.960 $99,960 20,246.00 Conversion Costs (DL + OHD) 70,000 $70,000 Shaded is formula added for you from total equivalent units calculated above (round to the closets cent (2 decimal places (18 (tow Sh Shade Shade DM 70,000 29.10 $99,960 20.246.00 33 Units of ending goods in process 54 56 Direct materials Linds 100,YOU Complete 56 Conversion Costs (DL+OHD) 57 Equivalent units of production 50 59 60 Part 3: Compute Cost per Equivalent Units of Production. Cost per Equiv Unit of Production 61 62 Costs of beginning goods in process 63 Costs incumed this period 64 Total costs 65 (divide by) Total Equivalent Units of Prod 66 Cost per Equiv Unit of Production 67 68 70 EUP Part 4: Compute Cost of units completed and transferred out and ending inventory. Cost Assignment and Reconciliation Costs transferred out (cost of goods manufactured) Cost per EUP 72 Direct materials 73 Conversion Costs (DL-OHD) 74 75 Costs of ending goods in process 76 Direct materials 77 Conversion Costs (DL+OHD) 76 79 Total costs accounted for 80 Conversion Costs (DL+ OHD) 70.000 $70,000 Shaded is formula added for you from total equivalent units calculated above und to the closets cent (2 decimal places 82 83 Journal Entry: Enter journal entry to record moving goods from Work in Process to Finished Goods (also Cost of Goods Manufactured) 85 Debit Credit 17 Finished Goods inventory 88 Work in Process Inventory 89 90 91 02 03 94 888 This Excel Worksheet was created by Amy Bohrer, CPA and is licensed under a Creative Commons Attribution 4.0 International License. Actual 63.000 Shaded is Shaded is Shaded la