Brian Ltd. manufactures a product which passes through 2 departments, Boiling and Cooling.

Processing first begins in the Boiling department. After boiling of all the materials have been completed, the product is transferred to Cooling department. In the Cooling Department, further materials are added and processed until completion, and transferred to the finished goods inventory. Overhead is allocated on the basis of 150% of direct labour cost. Work in process in the Cooling Department on 1 November was 70,000 units (Materials: 50% complete; Conversion: 90% complete). The costs included in these units were as follows:

Boiling Department = $1,015,000

Cooling Department:

- Direct materials = $350,000

- Direct labour = $1,285,200

- Overheads = $?

During the month, the Cooling Department completed and transferred 200,000 units to finished goods inventory. Units transferred in from Boiling in November were charged at $15.30 per unit. Cooling Department's costs in November were:

Materials added = $ 1,870,000

Direct labour = $ 3,268,000

Overheads = $?

The ending work in process for Cooling Department was 50,000 units (Materials: 10%; Conversion: 30%)

a) Make the Cooling Department production cost report for the month of November using (round up to 2 decimal place):

(i) Weighted Average method

(ii) FIFO Method

Note: You may prepare the production cost report using WORD or EXCEL.

b) Summarize your answer according to the attached sheet.

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Question 1 (a)(i) WA method Transferred Direct Conversion In Material Costs Equivalent units Cost per equivalent unit ($) Assignment of costs to: Completed and transferred out. EWIP Total cost accounted for(a)(ii) FIFO method Transferred Direct Conversion - In Material Costs Equivalent units Cost per equivalent unit ($) Assignment of costs to : Completed and transferred out from : BWIP Cost to complete Started and completed. Total costs of completed units. EWIP Total cost accounted for