Collins Company, which, on April 1, had 6,000 units of WIP in Department B the second and last stage of its production cycle. The costs attached to these 6,000 units were P 12,000 of costs transferred in from Department A, P2,500 of material costs added in Department B, and P2,000 of conversion costs added in Department B. Materials are added at the Beginning of the process in Department B. Conversion was 50% complete on April 1, During April, 14,000 units were transferred in from Department A at a cost of P27,000 and material costs of P3,500 and conversion costs of P3,000 were added in Department B. On April 30, Department B had 5,000 units of WIP, 60% complete as to conversion costs. The costs attached to these 5,000 units were P 10,500 of costs transferred in from Department A, P1,800 of material costs added in Department B, and P800 of conversion costs added in Department B.

Using the weighted average & FIFO method, make a production report (you may use the reference image for the production report)

FIFO METHOD - TABLETING WEIGHTED AVE. METHOD - TABLETING UNIT INFORMATION UNIT INFORMATION FIFO METHOD - MIXING WEIGHTED AVE. METHOD - MIXING Units to account for: Units to account for: 10 UNIT INFORMATION UNIT INFORMATION Beg. WIP 4,000.00 Beg. WIP 4,000.00 11 Started/ Trans-in 200,000.00 Started/ Trans-in 200,000.00 12 Units to account for. Units to account for. 204,000.00 204,000.00 13 Beg. WIP 5 Beg. WIP 5 14 Units started in the current per 126 Units started in the current period 126 EUP EUP 15 131 131 Units accounted for: Trans-in DM CC Units accounted for: Trans-in DM CC 16 EUP EUP Completed: 198,000 Completed 198,000.00 198,000.00 198,000.00 198,000.00 17 Units accounted for. DM CC Units accounted for. DM CC Beg. WIP 4,000.00 0 0 2,000.00 End WIP 6,000.00 6,000.00 6,000.00 2,400.00 18 Completed/ transferred out: Completed/ transferred out: 125 125 125 Started & comple 194,000.00 194,000.00 194,000.00 194,000.00 204,000.00 204,000.00 204,000.00 200,400.00 19 Beg. WIP 5 3 End WIP 6 6 End WIP 6,000.00 6,000.00 6,000.00 2,400.00 20 Units started & completed 120 120 120 131 131 128 204,000.00 200,000.00 200,000.00 198,400.00 COST INFORMATION 21 End WIP 6 6 3 22 131 126 126 COST INFORMATION Cost to account for: Totals Trans-in DM CC 23 Beg. WIP 222.00 140.00 32.00 50.00 24 COST INFORMATION COST INFORMATION Cost to account for: Totals Trans-in DM C Incurred in the current period 21,933.50 15,489.50 1,584.00 4,860.00 25 Beg. WIP 222.00 140.00 32.00 50.00 30 22,155.50 15,629.50 1,616.00 4,910.00 26 Cost to account for TOTAL DM CC Cost to account for. TOTAL DM CC Incurred in the curr 21,937.71 15,493.71 1,584.00 4,860.00 2916 27 Beg. WIP 504.00 120.00 384.00 Beg. WIP 504.00 120.00 384.00 22,159.71 15,633.71 1,616.00 4,910.00 28 Cost incurred during the perioc 15,432.00 3,144.00 12,288.00 Cost incurred during the period 15,432.00 3,144.00 12,288.00 Unit cost 0.10903778 0.076615 0.007922 0.024501 29 15,936.00 3,264.00 12,672.00 15,936.00 3,264.00 12,672.00 30 Unit cost 0.10988454 0.077469 0.007920 0.024496 Trans-Out 31 Unit Cost 122.48 24.95 97.52 Unit Cost 123.92 24.92 99.00 Cost accounted for: TOTALS Completed End WIP 32 Trans-Out Completed 21,589.48 33 Cost accounted for: TOTALS Completed End WIP End WIP 34 Trans-out/ Trans-out Completed Trans-in 459.69 35 Costs accounted for. TOTAL Completed End WIP Costs accounted for TOTAL Completed End WIP Units started & completed 21,317.60 Direct Materials 47.53 36 Units started & completed 14,697.14 Completed/ transferred out: #HHHHHH# Beg WIP: Conversion cost 58.80 37 Beg. WIP: End WIP Cost from prior year 222.00 22,155.50 21,589.48 566.02 38 Cost from prior year 504.00 Direct materials 149.50 Cost from current year 48.99 39 Cost from current year 292.57 Conversion cost 297.00 End WIP 40 End WIP 15,936.00 #HHHHHH 446.50 Trans-in 464.81 41 Direct materials 149.71 Direct Materials 47.52 42 Conversion cost 292.57 Conversion cost 58.79 43 15,936.00 15,493.71 442.29 22,159.71 21,588.59 571.12 44 45 46Healthway uses a process-costing system to compute the unit costs of the minerals that it produces. It has three departments: mixing, tableting, and bottling. In mixing, the ingredients for the minerals are measured, sifted, and blended together. The mix is transferred in capsules. One gallon of powdered mix converts to 1,600 capsules. After the capsules are filled and polished, they are transferred to bottling where they are placed in bottles, which are then affixed with a safety seal and a lid and labeled. Each bottle receives 50 capsules. During July, the following results are available for the first two departments (direct materials are added FIFO METHOD - TABLETING 8 at the beginning in both departments): UNIT INFORMATION 9 FIFO METHOD - MIXING WEIGHTED AVE. METHOD - MIXING Units to account for: 10 Mixing Tableting UNIT INFORMATION UNIT INFORMATION Beg. WIP 4,000.00 11 Started/ Trans-in 200,000.00 12 Beginning inventories: Units to account for. 204,000.00 Physical units 5 gallons Units to account for. 4,000 capsules Beg. WIP 5 Beg. WIF 5 Costs: Units started in the current per 126 Units started in the current period 126 EUP Direct materials $ 120 32 131 131 Units accounted for: Trans-in DM CC Direct labor $ 128 S 20 EUP EUP Completed: 198,000 Overhead Units accounted for. DM CC Units accounted for. DM CC Beg. WIP 4,000.00 0 0 2,000.00 Transferred in $ 140 Completed/ transferred out: Completed/ transferred out: 125 125 125 Started & comple 194,000.00 194,000.00 194,000.00 194,000.00 Current production: Beg. WIP 5 3 End WIP 6 End WIP 6,000.00 6,000.00 6,000.00 2,400.00 20 Transferred out 125 gallons 198,000 capsules Units started & completed 120 120 120 131 131 128 204,000.00 200,000.00 200,000.00 198,400.00 21 Ending inventory 6 gallons 6,000 capsules End WIP 6 3 22 131 126 126 COST INFORMATION 23 Costs: 24 Direct materials $3,144 $1,584 COST INFORMATION COST INFORMATION Cost to account for: Totals Trans-in DM CC 25 Transferred in Beg. WIP 222.00 140.00 32.00 50.00 26 Direct labor $4,096 $1,944 Cost to account for TOTAL DM CC Cost to account for TOTAL DM CC Incurred in the curr 21,937.71 15,493.71 1,584.00 4,860.00 29 27 Overhead Beg. WIP 504.00 120.00 384.00 Beg. WIP 504.00 120.00 384.00 22,159.71 15,633.71 1,616.00 4,910.00 28 Percentage of completion: Cost incurred during the perioc 15,432.00 3,144.00 12,288.00 Cost incurred during the period 15,432.00 3,144.00 12,288.00 29 Beginning inventory 40% 50% 15,936.00 3,264.00 12,672.00 15,936.00 3,264.00 12,672.00 30 Ending inventory 50% 40% Unit cost 0.10988454 0.077469 0.007920 0.024496 31 Unit Cost 122.48 24.95 97.52 Unit Cost 123.92 24.92 99.00 32 Overhead in both departments is applied as a percentage of direct labor costs. In the mixing department, Trans-Out 33 overhead is 200 percent of direct labor. In the tableting department, the overhead rate is 150 percent of Cost accounted for: TOTALS Completed End WIP 34 direct labor. Trans-out/ Trans-out/ Completed: 35 PRODUCTION REPORT - FOR BOTH DEPARTMENTS UNDER FIFO & WEIGHTED AVE. Costs accounted for TOTAL Completed End WIP Costs accounted for. TOTAL Completed End WIP Units started & completed 21,317.60 36 Units started & completed 14,697.14 Completed/ transferred out: HHHHHHHH Beg WIP 37 Beg. WIP End WIP Cost from prior year 222.00 38 Cost from prior year 504.00 Direct materials 149.50 Cost from current year 48.99 39 Cost from current year 292.57 Conversion cost 297.00 End WIP 40 End WIP 15,936.00 #HHHHHH# 446.50 Trans-in 464.81 41 Direct materials 149.71 Direct Materials 47.52 42 Conversion cost 292.57 Conversion cost 58.79 43 15,936.00 15,493.71 442.29 22,159.71 21,588.59 571.12 45 46