The first picture is the question, and following pictures is the solution. I've done the question correct, however I'm having trouble in makimg journal entries for Process Y and ledger for process Y.
kindly guide me on that.
17.9 Cost of Production Report (CPR) Product M has only two processes. Material is added at end of the process X while at beginning of the process Y. Labor costs and FOH are added evenly through the process X and Y. Other information about these processes is given below: Process X Process Y Opening WIP 0 0 Units started 5000 4000 Units completed and 4000 3500 transferred out Closing WIP 1000 500 (70% complete) (50% complete) Cost added: Rs. Rs. Direct material cost 10000 20000 Direct labor cost 20000 30000 FOH 30000 40000 Total 60000 90000 I Instructions 1. Prepare CPR for each process (12, 12) 2. Prepare journal entries to charge costs to each process and transfer their output to next process or finished goods inventory (8,8) Statement of ouvent Units Prepared for outside Material Labor 4000 300 4000 Units completed and transferred out Closing WON) Normal loss Anomat 1000 0 1000 0 100 70 4000 700 100 70 2000 6700 4700 Contatement Total Equivalent Un Perunit Cout 0 Transferred in Cost 0 Cost Added 2500 Matt Cost La Cout FOH Cost 10000 20000 20000 50000 4000 4700 4700 + 1933 H 10000 COCO 100 Cost Adonderredout Matt Cout LC 4000 1000 200 4315 1000 10 US tha MOS PO Grilled to closing WSP Matt Com La Coc 0 700 700 2.500 26 33 3000 338723 000 000 WY 10000 LOOD Mart La Cost FOHC To Ouremat 30000 10000 #153 1914 WY Tuntemplatinto Proces D M H WY Transfervenientes Pro 52551919 rin WIPX WIPY Malta Last FO 25833 10000 2000 10000 Balance 731 0000 GOOOO Balance 17466 SON Input Out Input Opening WIP Units Strated 1000 OUME Units Completed and interdut Closing NE AB. 3500 500 0 000 000 Equitetu FOR Units Complete and Trade Closing WICON NL AD 100 100 35.00 SG 100 50 3500 500 0 0 Us 3500 250 100 50 3500 250 4000 3750 2150 H FO M het 100 100 100 100 88 100 350 Units Completed and transferred out Closin WPSON NE ABEL Catamant 5 Tala C 3553 1914 000 Transferred in Cost Cost Addiad Matt Cost Usb Cost FOH Cost 30000 30000 10000 16255191 4000 10 110 S000 3.000 OUT SOS Costa 4190041 100 000 31000000 Cort Assigned to his completed and transferred Transferred in Cost Matt Cost Lab Cost TOH 3500 3100 HO 200 5000 1000 06 12001715 Cost Ansigned to cong W Trendin Com Matt Cout Lab Cout FOH 500 500 210 5000 1000 1053 5631 00000 3000 000 LEGE 250 103511 DUE Review View y Tell me what you want to do A = T- Ef Wrap Text General 4. Merge & Center - Insert Delete Format $. % *8.68 Conditional Formatas Cell Formatting Table Styles Number Styles Autosum - DF So Clear FE Editing Alignment Cells F H M G Cost Assigned to closing WIP Transferred in Cost Matt. Cost Lab. Cost FOH 500 500 250 250 13.138 5.000 8.000 10.667 6569. 149 2500.000 2000.000 2666.667 13735 816 142553.191 WIPY Matt. Cost Lab Cost FOH COS 4 + 17.9 Cost of Production Report (CPR) Product M has only two processes. Material is added at end of the process X while at beginning of the process Y. Labor costs and FOH are added evenly through the process X and Y. Other information about these processes is given below: Process X Process Y Opening WIP 0 0 Units started 5000 4000 Units completed and 4000 3500 transferred out Closing WIP 1000 500 (70% complete) (50% complete) Cost added: Rs. Rs. Direct material cost 10000 20000 Direct labor cost 20000 30000 FOH 30000 40000 Total 60000 90000 Instructions 1. Prepare CPR for each process (12, 12) 2. Prepare journal entries to charge costs to each process and transfer their output to next process or finished goods inventory (8,8) 17.9 Cost of Production Report (CPR) Product M has only two processes. Material is added at end of the process X while at beginning of the process Y. Labor costs and FOH are added evenly through the process X and Y. Other information about these processes is given below: Process X Process Y Opening WIP 0 0 Units started 5000 4000 Units completed and 4000 3500 transferred out Closing WIP 1000 500 (70% complete) (50% complete) Cost added: Rs. Rs. Direct material cost 10000 20000 Direct labor cost 20000 30000 FOH 30000 40000 Total 60000 90000 I Instructions 1. Prepare CPR for each process (12, 12) 2. Prepare journal entries to charge costs to each process and transfer their output to next process or finished goods inventory (8,8) Statement of ouvent Units Prepared for outside Material Labor 4000 300 4000 Units completed and transferred out Closing WON) Normal loss Anomat 1000 0 1000 0 100 70 4000 700 100 70 2000 6700 4700 Contatement Total Equivalent Un Perunit Cout 0 Transferred in Cost 0 Cost Added 2500 Matt Cost La Cout FOH Cost 10000 20000 20000 50000 4000 4700 4700 + 1933 H 10000 COCO 100 Cost Adonderredout Matt Cout LC 4000 1000 200 4315 1000 10 US tha MOS PO Grilled to closing WSP Matt Com La Coc 0 700 700 2.500 26 33 3000 338723 000 000 WY 10000 LOOD Mart La Cost FOHC To Ouremat 30000 10000 #153 1914 WY Tuntemplatinto Proces D M H WY Transfervenientes Pro 52551919 rin WIPX WIPY Malta Last FO 25833 10000 2000 10000 Balance 731 0000 GOOOO Balance 17466 SON Input Out Input Opening WIP Units Strated 1000 OUME Units Completed and interdut Closing NE AB. 3500 500 0 000 000 Equitetu FOR Units Complete and Trade Closing WICON NL AD 100 100 35.00 SG 100 50 3500 500 0 0 Us 3500 250 100 50 3500 250 4000 3750 2150 H FO M het 100 100 100 100 88 100 350 Units Completed and transferred out Closin WPSON NE ABEL Catamant 5 Tala C 3553 1914 000 Transferred in Cost Cost Addiad Matt Cost Usb Cost FOH Cost 30000 30000 10000 16255191 4000 10 110 S000 3.000 OUT SOS Costa 4190041 100 000 31000000 Cort Assigned to his completed and transferred Transferred in Cost Matt Cost Lab Cost TOH 3500 3100 HO 200 5000 1000 06 12001715 Cost Ansigned to cong W Trendin Com Matt Cout Lab Cout FOH 500 500 210 5000 1000 1053 5631 00000 3000 000 LEGE 250 103511 DUE Review View y Tell me what you want to do A = T- Ef Wrap Text General 4. Merge & Center - Insert Delete Format $. % *8.68 Conditional Formatas Cell Formatting Table Styles Number Styles Autosum - DF So Clear FE Editing Alignment Cells F H M G Cost Assigned to closing WIP Transferred in Cost Matt. Cost Lab. Cost FOH 500 500 250 250 13.138 5.000 8.000 10.667 6569. 149 2500.000 2000.000 2666.667 13735 816 142553.191 WIPY Matt. Cost Lab Cost FOH COS 4 + 17.9 Cost of Production Report (CPR) Product M has only two processes. Material is added at end of the process X while at beginning of the process Y. Labor costs and FOH are added evenly through the process X and Y. Other information about these processes is given below: Process X Process Y Opening WIP 0 0 Units started 5000 4000 Units completed and 4000 3500 transferred out Closing WIP 1000 500 (70% complete) (50% complete) Cost added: Rs. Rs. Direct material cost 10000 20000 Direct labor cost 20000 30000 FOH 30000 40000 Total 60000 90000 Instructions 1. Prepare CPR for each process (12, 12) 2. Prepare journal entries to charge costs to each process and transfer their output to next process or finished goods inventory (8,8)
