Question
Note;Please solve using chart below. Thanks Reminder to expert; there is no begining inventory for case 3, nor is there a units transfered.This is everything
Note;Please solve using chart below. Thanks
Reminder to expert; there is no begining inventory for case 3, nor is there a units transfered.This is everything that was given. I don't have any further information for this question. all the comments below are requesting for more info, but in the text "principles of cost accounting, by Vanderbeck, excercise E6-5" doesn't provide any further information. Please help me. Thanks.
Assuming that all materials are added at the beginning of the process and the labor and factory overhead are applied evenly during the process, compute the figures to be inserted in the blank spaces of the following data, using the weighted average cost method. (Hint. For best success in solving each case, solve them in numerical order starting with (1)]
Particulars | Case 1 | Case 2 | Case 3 |
Units in process, beginning of period | 300 | 0 | (3) |
Materials cost in process, beginning of period | 915 | 0 | 568 |
Labor cost in process, beginning of period | 351 | 0 | 200 |
Overhead cost in process, beginning of period | 300 | 0 | 188 |
Units started in process | (1) | (5) | 19,200 |
Units transferred | 1,300 | 8,000 | (2) |
Units in process, end of period | 200 | (2) | 1,400 |
Stage of completion | 1/4 | (4) | 1/5 |
Equivalent unitsmaterials | (2) | (1) | (4) |
Equivalent unitslabor and factory overhead | (3) | (3) | 18,440 |
Materials cost, current month | 3,660 | 13,120 | (5) |
Labor and factory overhead combined cost, current month | 5,100 | 16,200 | (1) |
Materials unit cost for period | (4) | 1.60 | 0.30 |
Labor and factory overhead combined unit cost for period | (5) | 2.00 | 0.20 |
CASE 1 | ||||||
Units transferred | ||||||
Units in process, end of period | ||||||
Units in process, beginning of period | ||||||
Units started in process | ||||||
Units transferred | ||||||
Units in process, end of period | ||||||
Equivalent units - materials | ||||||
Units transferred | ||||||
Units in process, end of period, | completed | |||||
Equivalent units - labor and factory overhead | ||||||
Materials | Labor | |||||
Total costs for the period | ||||||
Equivalent units | ||||||
Unit cost for period | ||||||
CASE 2 | ||||||
Materials | Labor | |||||
Total cost | ||||||
Unit cost | ||||||
Equivalent units | ||||||
Equivalent units - materials | ||||||
Units transferred | ||||||
Equivalent units in process, end of period, all materials | ||||||
Equivalent units - labor and factory overhead | ||||||
Units transferred | ||||||
Equivalent units in process, end of period | completed | |||||
Units transferred | ||||||
Units in process, end of period | ||||||
Units started in process | ||||||
CASE 3 | ||||||
Equivalent units - labor and factory overhead | ||||||
x Labor and factory overhead unit cost for period | ||||||
Total cost | ||||||
Less labor and factory overhead costs in process, beginning of period | ||||||
Labor and factory overhead current month | ||||||
Equivalent units - labor and factory overhead | ||||||
Less equivalent units in process, end of period | completed | |||||
Units transferred | ||||||
Units in process, end of period | ||||||
Less: | Units started in process | |||||
Less units transferred | ||||||
Units in process, beginning of period | ||||||
Units transferred | ||||||
Units in process, end of period | ||||||
Equivalent units - materials | ||||||
x Materials unit cost for period | ||||||
Total cost for materials | ||||||
Less materials cost in process, beginning of period | ||||||
Materials cost current month | ||||||
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