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2125113 Ass;ignnrent Print View
Exercise 1ti1 5 Completing a process cost sumftrary L-A. C3
The follot,ing partially completed process cost summary descdbes lhe May production actilities of Raman
Company, lts production output is sent to its warehouse for shipping.
Ectuivalent units of production
Units trirnsfened ou
t
Units of r::lnding goods in process
Equilalr:n1l units of production
Costs
per
EUP
Costs of ikleginning goods in process
Costs inr:;uned this period
Total ccsl.s
Direct Direct l:;actory
Materials Labor C’rrerhead
$ 35,000 $ 1,600 $ 3,200
8731:00 1?4i0?0 2081909
$908,800 $105,600 $ ztt,2o
o
Direct F,actary
Labor t.)rcrhead
122,000 ‘l?2,000
1o:ooo
19999
132,000 132,000
$
__” 1_ ”
Unit corit information
Direct Materialr;
Direct
M
aterials
122,000
20:000
142,0AA
Units in Jnr*ginning goods in process 7,000
Units si:arnlled this period 135,000
Units cr)rrlrpleted and transfened out ‘122,000
Units in emding goods in process 20,000
Prepare il$ process cost summary using the weighted-arerage rnethod. {ffi*l*n* ys$-r*”
fr$Tsw*tr*i :f6 ff d***sr’*a$ p$**es nnd *qsrssid*r th* s&ffi”** is’x t*r’u *thsr **$s*^.r$atfr**s.
anwpd#r$ iiqp the neares8 ***&*r as’*i*qJnt” #ret** *$r* n*$*n *$gr: *x’r y*r”xr ir#sp#ffiffi”)
*qlsr* B*n ffi{.$F
ffisl**d *t*r*r
RAMAN COMPANY
Process Cost Summary
For Month Ended
May 3
1
to ProductionCosts C;tir
6
-L-
t
– – –E.–,,, -a , ,
L
ezto.mhecl oud.rrcg raw hi ll ll, comft m.tpx
Total costs to account for
Units to account for
(Click tro select)
Click to select) | –
Total units to account for
Er:lurir,alent Units of Production (EUP)
lcri’k {;;]
l (cti”k 1,.;’,
Equiwkrn{ units of production
I (‘i”k 1,;; ;
It-“”sq’ia|
Total ccrgl’g
Icri”k r,;, ,
i
Cost per liiiUP
Units accounted for
{Click to select) T
(Click to sefect) ?
Total units accounted for
Direct Labor
Factory Owrhead
Direct Materi:rls
$
Factory Owrhead
$
Cost assignment and reconciliation
per EUP
Direct Labor
per EUP per EUP
1t11
UOSTS tri:lnsleffe0 OUt
(Click: to select) t
(Click to select) v
(C1ick lar select) ?
2t25t13 Asliignnent Print Viary
Total tranrsfened out
Cos ts of endino qoods in orocess
(Click ln,select) ?
(Click tar select) q
(Click tr::r select)
I
Total errrling goods in process
Total crcrlits accounted for
Yieur-,r!rui
ljllcrkshrarilt
Fx*rciser i’ri-?5 Co;”npfef*?$ a pflocess c*sf s{Jn?rrlary
r.s. c3
2.
Fxerc8e f li:’4 Recording overhead costs L.O. PS
Prepare joumal entdes to record the following production acti\,ities.
1. Paidorerheadcosts(otherthanindirectmaterialsandindirectlal:ror)of$23,000.(Omitthe”$”signin
your rc*;ponse.)
General Joumal
Debit
Credit
ffi
2. Used{i5B,000ofdirectlaborinproduction.AppliedorrerheadatSso/oofdirectlaborcosts.{Omitthe”$”
sign in
your response,)
General Joumal Debit Oedit
@ffi
rffi
View H!ffi#1
Workshet*t: . .”’ .. :
Fxercise t’$–f Recarding ov*rh*ad costs 1.0- P3
3.
Exercise 16-11A Casts assrgned to output-F|FO L.O. C4, P4
During April, the production department of a process manufucturing system completed a numberof units o
f
a product and transfened them to fnished goods, Of these transferrecl units, 59,000 were in process in the
production department at the beginning of April and 310,000 werc si:arted and completed in April. April’s
beginning inEntory units were 70Yo comflete with respect to materials and 30Yo complete with respect to
labor. At the end of April, 87,000 additional units were in process in the prcduction department and were
600/o complete with respect to materials and 60% complete with rcsper;t to labor.
The production department had $1,025,000 ofdirect materials and $6i’2,000 of direct labor cost charged to
it during April. Also, its beginning in\entory included $121,UO of direct materials cost and $49,890 of direct
labor.
1 . Using the FIFO method, compute the direct matedals cost and th i! direct labor cost per equi\alent unit
for the department. (Round your ansrLers to 2 decimal pl;rces Omit the ‘$” sign in
your
respon{re”}
Direct Materials Direct L,abor
Cost p€,r equi\alent unit $ EUP $ EUP
ezto.nhecloud.nrcgrarrhill.corrvhm.tpx 2111
2125113
4.
5.
General Joumal
@ri
mI
@l!
ezto.n*’recl oud. rncg r aw hi I I . clrm/hm.tpx
Acrsignnent PrintVieu
2. Using the FIFO method, assign April’s ccsts to the dep€rrtment’s output-€pecifically, its units
tmnslbned to fnished goods and its ending goods in prccess inr,entory. {Round your intermediate
calculations and linal ansffer to 2 decimal places Omit thu “$” sign in your
response.)
Total cost $
View Ftnt#1
lfforkshGet
Fxercfsr:r 16-i 1A Cosfs as$igfr?ed fo oi.rfpr.rf-FfF0 l.O.
c4, p4
Exercr’se 1ti-13A Equiualent unrls computed-FFA L.O. C4
The proddction department in a process manufacturing system completed 196,500 units of product and
transfener! them to finished goods during a Ecent period. Of thesr:r units, 28,000 were in process at the
beginningl of the period- The other 168,500 units were started and completed during the period. At period
end. 25,500 units were in process.
Compute the depailment’s equi\ralent units of production with respe(;t to direct materials under each of the
three separate assumptions using the FIFO method fur process costing.
l. All dircpt materials are added to products lvhen processing begin{i.
Total EUP
2. Dtnect rnaterials are added to products evenly throughout the process. Eeginning goods in process
in\entoly was 45% comdete, and ending goods in process inr,entury was 65% complete.
Total EUP
3. One+alf of direct materials is added to products when the process begins and the other half is added
when the process is 70% complete as to direct labor. Beginning goods in prccess inr,entory is 30%
complete as to direct labor, and ending goods in process inrentorlr is 55% complete as to direct labor.
View l-{nt#1
. Exercise 16.1sAti:suivarentunitscomputed-FtFo hi:?:H,i:’:S;jm*:”.nm*f;t:;;Worksheet L’o’ c4
FrFo.
Fxerclse 16-5 Recording cost of completed goods L.O” P4
Prepane joumal entries to rccord the fullowing activties.
l- Transfered completed producls with a cost of $140,000 to fnished goods inventory. {Omit the “$” sign
in your response.)
General Joumal
Debit Credit
l(cti”*ffi
@
2. Sold $449,000 ofproducts on credit. Theircost is $174,000. (Omitthe “$” sign in your response.)
Total HUP
Debit Credit
3t11
2J25113
6.
Raw material’s; purchases (on credit) Direct Labor used Orerhead rater ins a percent of direct labor ezto.ml’rec| oud.mcg ra\ F hi I I .r:rrm/hm.tpx
As,slg nrnent Print Vieut
tr
View.llinl#1
!rysrksihi:r,l*t
Fxercgse x 6-5 Recorct’rng cosf of conrplefeef goods ; Exercise 1’6-3 Recording casts ol labor L.O. P2 1. lncuncd total labor cost of $Z/,000, which is paid in cash. {Omit the “$” sign in your response.}
Debit
msl, [(C;tick to select) i- |
2. Used $f:i2,000 of direct labor in production. {*mit th* **$” sign in your resp*nse”i
@sr ‘ 3. Used lFl5,000 of indirect labor. {S*nit tlte @il Raw materii’tls; inrentory Debit Workshe eii
Exer*ise “1,{i-3 Recardi*g r*sfs *f fab*r L.0” Pz
Problem 16-1 A Production cost flow and neasurement; jaurnal enl’4es L.A. PI , P2, P3, P4 Edison Company manufactures urool blankets and accounts for product: costs using prccess costing. The Beginning Ending The following arcilditional information describes the company’s production ilctivities for May.
$ 300,000 99,000
$ 195,500 $ 707,000 12lo/o
$ 3,000,00c
4111 2125t13
7.
L Problem 1,6-1A Part 1 your response,) Cost ofproducts transfened $ Cos;t of goods sold $
Workshreirrt
Prablem I fi-f A Farl l
iliffrcu{g: i-{ard
Problem 16.14 Part 2
2(a) Prepare joumal.entry dated May 31 to record the raw materials purchases. (Omit the “$” sign in your
response.) DatE General Joumal Debit Credit 2(b)Prepare ioumal entry dated May 31 to record the direct matedal$ usage. {Omit the “$” dgn in your Datel
May il”l
Debit Credit % respsilriil:l-l
Datr: Debit Credit ffi Datt’r General Joumal Debit Credit
General Joumal (Click to select) l-
General Joumal ffi resp*n $*,, !
Date Debit Credit ffi resPcnsie”)
ezto.n*recl oud.nrcg ranrrhil l.r:inry’hm.px
– ‘tij
5111 2t2AB Assignnent Print Vierry
l[late General Joumal Debit Credit -Fl(Click to select) | Y
2(g)Preparc joumal entry dated May 31 to record the otherorerhr:ad costs. (Omit the “$” sign in your Dtate General Joumal Debit Credit
Glick to select) i v
2(h)Prcpare joumal entry dated May 31 to recod the orerhead applied. (Omit the “$” sign in your []’ate General Joumal Debit Credit W {Omit the ” I\{ilry 31
Dinte General Joumal 2(j) Prepaue joumal entry dated May 31 to record the sale of finish,:d goods. {Omit the “$” sign in your Date Debit Credit @ —-lI
General Joumal It
Worksh*r*l
Fr*b lem t fi:-1 A Part ? . -:,
! ^:”
Problem 16-2,4 Cost per equivalent unrt; cosfs assrgned fo produc,tl L.O. C2, C3 Fairfax Company uses weighted-a\,erage process costing to account for its production costs. Direct labor is sectionBreak :::iffilifi”:'”f ,:;:3i::3′:””u'”‘””
o Prablem 16-.11,,4, Part I ezto.rrhec I oud. nrc g r auF h i I I . r;lrm/h m. tpx 6t11 212913
both the direct labor cost and the direct materials rHffiTt Print Meuv
per equiwlent unit. {Round {(b)
Prable
Problem Di
Di Warks
-r$ij,
Prabfem 1 out. start of Process
tl i Aa-zn Part I I’1. I -l,r i-tt
.1″bcmt aterials Per equiulent $ i q Part 2 11,
Part 3 to units cornpleted and tmnsfuned to ending goods in process
Cost transfened $l materials cost I goods in pnrcess
Prabtem 1 Pa* 3
Prablem I , and direct labor and orcrhead are added erenly the process. The company account bllcnrs afrer entries for direct materials,
both direct labor cost and direct j Costs of ending
1 process cosf sumffnry; egunralenf unrfs L.A. C2,
ezto. nhecl oud. nrcg raru- hi I tpx
labor, and owrfiead eosts fur
7111 2t25t13
Debit Credit 103,000
423,000 rtssig nrnent Print View
Acr :t. No.133 276,296
379,286
802,286 Octoberr.
Goods in Process lnrcntory Ocl:. 1 Balance Its beginning goods in process consisted of $43,030 of direct rnaterials, $79,920 ot direct labor, and Required: you:r cosl per EUp an$,uers to 3 decimal places anl consider the same in the other EASTON CO. For Month Ended October 31
Tc{:il [eginnirg goods ln process
tLilick to sdect)
Tokrl inrcuned this penod
Tota I r::r:sts to accor.rnt firr $
Unit c, rst inforrnation (CIick to select)
{Gick to sdect)
t – Total units accountd forTotal units to acconnt for
Equiwlent units of production
@r-i mrt @I Drect t/aterials Drect Labor Factory Owrhead EUP EUP EUP EUP
Dire:;t Materials Direct Labor Factory Orcrhead
$ Cost assignment and reconciliation (Clic’k to select) lv iT Clicl.,r to select
Clictl to select
Total trirnrsfened out ezto. mhecl oud. nrc g r av\F hi I I .’c,r:rndhm. tpx
Cor;’tsi; Charged to Production
Units to account for iGi;1,r, 8111 (Cli,ck to select) rr
(Cliic,k to select) I
(Clrickr to select) v
2t25113 Assigtrnent PrintView
Prepare the joumal entry dated October 31 to transfer the cost of the comdeted units to finished goods Date General Joumal Debit Credit bforkshe,efi
FraSlem 1€i-4A Prccess c+sls*m maty: eguirraienf Problem ? 6-54 Process cast summary, equivalent unifg cosl esfl:xafes L.A. C2, C3, P4 Ogden Co. manufactures a single product in one department. All direct materials are added at the Total reinrJing goods in process
Total corsts to account for
Goods in Process ln\entory Oct. 1 Balance +-‘u’ rJl
Debit Credit 495,900 982,44A
Acct. ttlo.133 3:14,140 2,108,340 $ection friir4*’63
Pr*blerx I ti’-54 Pr***ss ctlst stltrtr:rl*{y, eqLJivzl*nt _U;:
^an f
13.
Problem t’6-SA Pad 1 your co$ per €UP an$,vers to 2 decimal places anrl eonsider the same in the other OGDEN CO. For Month Ended October 31 Tiolhill beginning goods in process
C,o’t;ts incuned this period
ezto. nthecl oud. i’itcg ravir” hi I I . cotftm. tpx 9t11 (Click to select) ?
(Click to select) f
(Click to select)
2125t13 Totill incuned this period
Trrtall costs to account for
Units to account for (illick to select) !F
Tollilll units to account for
Equirclent units of produetion
(C:lick to select) f v
re[s
Equi’vialent units of production
Cost per EUP
(Clit;l’r to select) l-
ffi[ {Clicl< to select) i-
Gos’t p,er EUP
Cost assignment and reconciliation (C:lick to select T f x Clilc,k to select
Clic:k to select)
Total transferred out (Cli,tk to select) I – (Ctir:l< to seleet) rr
rtssig nnrcrit Print View
$ Unill cost information
EUP per EUP $
Units accounted for n Total units accounted for Dre,:;t Materials Direct Labor EUP ,:: EUP Total r:nding goods in process
Total crlrits to account for $
Warksheet
Prnblem f li.”iiA Fart’l
Problem 16-5;A Pad 2 in\entory, {Omit the “$” sign in your response,}
Date General Joumal Debit Credit ffi – sign in your nrsponse,)
Cos;t of goods sold $ 2t2AB Assignnent Print Vierry 212913 2t25t13 (Cli,ck to select) rr (Click to select) ? I\{ilry 31 212913 2t25t13 (Cli,ck to select) rr (Click to select) ? Cos;t of goods sold $ 2t2AB Assignnent Print Vierry 212913 2t25t13 (Cli,ck to select) rr (Click to select) ?
Factory payr
lndirect
Direct
lndirect
Sales (on cn:lrC,it)
L,A. P4
Prepare joumal entries to record the following production actiVties.
t.-
[l’
on$” si$n in y*ur respnrrse.}
ld’
Goods in proc’ess inwntory
Finished gorr;ds inr,entory
Debit
Credit
Credit
Credit
[me foilowing infomation appliesto fhe guesfibns displayed below.]
following infornation is available regarding its May in\,entories.
lnlentory lnventory
$ 57,000 $ 49,000
425,000 il9,500
636,000 333,001
1,600,000
70,000
893,000
Required:
1(a)Compute the cost of products transbned ftom pmduction to finished goods. (omit the “$” dgn in
1(b) Compute the cost of goods sold. (Omit the ”
May 31rm
resp$niiie”)
2(c)Prepare ianmal entry datd May 31 to recqd the indirect matetidtl ussge. (Offit &e ‘$” sign in yaur
May 31
2(d) Preparejoumal entry dated May 31 to record the payroll costs. {Onrit the “$” sign in your response.)
General Joumal
May 31
2(e)Prepare joumal entry dated May 31 to record the direct labor crrsts. {Omil the “$” sign in your
May 31
2(f) Prepare joumal entry dated May 31 to record the indirect labor crrsts. (Omit the “$” dgn in your
t\/ery31 @
res4xlnse.)
r*$pfil’nss.)
May 31
2(i) Prepate.ioumal entry dated May 31 to rccod the goods transft:ned ftom production to finished goods.
M,a1r .J1
resprsrYl$s.1
May, 31
Debit Credit
[The following inform ation ap plies to fhe guestrbns disp layed b e low.]
added elenly throughout the process. Dircct materials are added at th,:r beginning ofthe process. During
September, the company transbned 785,000 units of product to finisheC goods. At the end d September,
the goods in process in\,entory consists of 179,000 units that are 50(i5 complete with respect to labor.
Begtnning antentory had $375,96O of direct matedals and $65,588 of direrlt labor cost. The direct labor cost
added in September is $1,246,162, and the direct materials cost added iri’ $2,516,949.
Required:
1(a) Determitrrir the equiwlent units of production with respect to direct liltnr.
to 2 decimal place. Omit the ‘$” sign in your re
.l
2-
3(a) Com
am
USES
l-lo Part 2
I
I
I
I
I
I
,f”!91″8,”d
your
unit
i* ‘*”**’-
i=..-“–_..,.,___ :_” -“i
both direct labor cost and direct materials cost ass
nd your per unit costs to 2 decimal places and
I anwrrers to the neares* dsllar
out
**-*i
decimal
I places final an$rers to the neares*
dolla
Easton Co. ces its product thrwgh a single processing depart Direct rnaterials are added at the
rcporting periods for its weighted-a\€Ege process ng system. lts Goods in
ti {Round ycur per unit cosfs ttr 2
*rountl
I’
I
I
249,AOO
llalance
1 ,051 ,296
Dart e Explanation
31 Direct materials
:3’tr Direct labor
:3’l Applied owrhead
$153,3,36 of fuctory or,erhead. During October, the company start,:d 144,000units and transfenEd 151,000
units tr)finished goods. At theend of the month, the goods in pn,:ess inrentory consisted of 20,800 units
that were 80% complete with respect to direct labor and hctory ov:rrhead.
l. Prepare the companyb process cost summary for October using the weighted-arerage method. {Round
calc.ulationg Round other an${rers to the nearesf dollat irmounl Omit the “$” sign in your
req:ronse.)
Process Cost Summary
Units accounted for
?
@ili
Equivalernt units of production
@iir
Total corlts
Cost pe,r EUP
EUP
EUP
EUP
EUP
EUP
EUP
per EUP
EUP
per EUP
EUP
per EUP
Costs lri:lnsfered out
k
?
!m
itF
Costs cil ending goods in process
‘io sdect)
in\,entoD/. {Omit the “$” dgn in your response.}
oct.:31 @ –TJ]
unifs 1″6. t-)il, S3, F4
phefollowing lnformation appliesto ffie quesf,bns displayed below.l
beginning ol the manufacturing process. Direct labor and or,erhealj are added evenly throughout the
process. Thre company uses monthly reporting periods for its weight{d-a\erage prcrcess cost accounting.
During Octobel the company completed and transfened 23,200 units of product to finished goods
inrentory. ft{i 4,100 units of beginning goods in process consisted of 5i20,000 o{ direcl matedals, $205,300
of dit.ect labor, and $98,840 of factory or,erhead. lt has 2,200 units (1 00% complete with respect to direct
materials and 800/o complete with respect to direct labor and owrhr:nd) in process at month-end. After
entries to recod direct materials, direct labor, and o\ierhead for Octobrr, the company’s Goods in Process
ln\entory account follows.
Date Explanation
31 Direct materials
31 Direct labor
31 I ApplieO owrhead
1,288,300
Balartce
8;10,040
3,0!)0,780
u*its, cast#,:;ti{rc6fes L.*. C2, C:i, P4
1. Prepare the company’s process cost summary for October using the weighted-arcrage method.{Round
calcrulations, Round olher ans\n ers to the neare* dollal amount Qmit the “$” Sgn in your
response.)
Process Cost Summary
Crcsts Charged to Production
(tlliuk to select) rr
Toterl costs
Costrs ll,nansfened out
F
?
Costs nf endinq qoods iSL::i ot enAlng 9OOOS ln PrOceS
(Clirll< to select) ?
EUP
EUP
EUP
Click to select ?
TClick to select)
EUP
EUP
EUP
per EUP $
Factory Owrhead
EUP
EUP
per EUP
2. Prepare the joumal entry dated October 31 to transfur the cost ol’comdeted units to finished goods
Oct. 31
ezto. nhecl oud. nng raur hi I l. convhm.tpx 10111
Workshreirrt
Prablem I fi-f A Farl l
iliffrcu{g: i-{ard
Problem 16.14 Part 2
2(a) Prepare joumal.entry dated May 31 to record the raw materials purchases. (Omit the “$” sign in your
response.)
DatE General Joumal Debit Credit
May 31rm
2(b)Prepare ioumal entry dated May 31 to record the direct matedal$ usage. {Omit the “$” dgn in your
resp$niiie”)
Datel
May il”l
Debit Credit
%
2(c)Prepare ianmal entry datd May 31 to recqd the indirect matetidtl ussge. (Offit &e ‘$” sign in yaur
respsilriil:l-l
Datr: Debit Credit
May 31
ffi
2(d) Preparejoumal entry dated May 31 to record the payroll costs. {Onrit the “$” sign in your response.)
Datt’r General Joumal Debit Credit
General Joumal
(Click to select) l-
General Joumal
General Joumal
May 31
ffi
2(e)Prepare joumal entry dated May 31 to record the direct labor crrsts. {Omil the “$” sign in your
resp*n $*,, !
Date Debit Credit
May 31
ffi
2(f) Prepare joumal entry dated May 31 to record the indirect labor crrsts. (Omit the “$” dgn in your
resPcnsie”)
ezto.n*recl oud.nrcg ranrrhil l.r:inry’hm.px
– ‘tij
5111
l[late General Joumal Debit Credit
t\/ery31 @
-Fl(Click to select) | Y
2(g)Preparc joumal entry dated May 31 to record the otherorerhr:ad costs. (Omit the “$” sign in your
res4xlnse.)
Dtate General Joumal Debit Credit
Glick to select) i v
2(h)Prcpare joumal entry dated May 31 to recod the orerhead applied. (Omit the “$” sign in your
r*$pfil’nss.)
[]’ate General Joumal Debit Credit
May 31
W
2(i) Prepate.ioumal entry dated May 31 to rccod the goods transft:ned ftom production to finished goods.
{Omit the “$’ sign in your response.)
I\{ilry 31
Dinte General Joumal
M,a1r .J1
2(j) Prepaue joumal entry dated May 31 to record the sale of finish,:d goods. {Omit the “$” sign in your
resprsrYl$s.1
Date Debit Credit
May, 31
@ —-lI
General Joumal
Debit Credit
It
Worksh*r*l
Fr*b lem t fi:-1 A Part ? . -:,
! ^:”
Problem 16-2,4 Cost per equivalent unrt; cosfs assrgned fo produc,tl L.O. C2, C3
[The following inform ation ap plies to fhe guestrbns disp layed b e low.]
Fairfax Company uses weighted-a\,erage process costing to account for its production costs. Direct labor is
added elenly throughout the process. Dircct materials are added at th,:r beginning ofthe process. During
September, the company transbned 785,000 units of product to finisheC goods. At the end d September,
the goods in process in\,entory consists of 179,000 units that are 50(i5 complete with respect to labor.
Begtnning antentory had $375,96O of direct matedals and $65,588 of direrlt labor cost. The direct labor cost
added in September is $1,246,162, and the direct materials cost added iri’ $2,516,949.
sectionBreak :::iffilifi”:'”f ,:;:3i::3′:””u'”‘””
o
Prablem 16-.11,,4, Part I
Required:
1(a) Determitrrir the equiwlent units of production with respect to direct liltnr.
ezto.rrhec I oud. nrc g r auF h i I I . r;lrm/h m. tpx 6t11
both the direct labor cost and the direct materials
to 2 decimal place. Omit the ‘$” sign in your re
rHffiTt Print Meuv
per equiwlent unit. {Round
.l
{(b)
Prable
Problem
2-
Di
Di
Warks
-r$ij,
Prabfem 1
3(a) Com
out.
am
start of
USES
Process
tl
l-lo Part 2
i
Aa-zn Part I
I
I’1.
I
I
I
I
I
I
-l,r i-tt
.1″bcmt
,f”!91″8,”d
aterials
your
Per equiulent
unit
$
i* ‘*”**’-
i
q
i=..-“–_..,.,___ :_” -“i
Part 2
11,
Part 3
both direct labor cost and direct materials cost ass
nd your per unit costs to 2 decimal places and
to units cornpleted and tmnsfuned
I anwrrers to the neares* dsllar
to ending goods in process
Cost transfened
out
$l
**-*i
materials
decimal
cost
I places final an$rers to the neares*
dolla
I goods in pnrcess
Prabtem 1 Pa* 3
Prablem I
Easton Co. ces its product thrwgh a single processing depart Direct rnaterials are added at the
, and direct labor and orcrhead are added erenly the process. The company
rcporting periods for its weighted-a\€Ege process ng system. lts Goods in
account bllcnrs afrer entries for direct materials,
both direct labor cost and direct
ti {Round ycur per unit cosfs ttr 2
*rountl
I’
I
j Costs of ending
1
I
process cosf sumffnry; egunralenf unrfs L.A. C2,
ezto. nhecl oud. nrcg raru- hi I tpx
labor, and owrfiead eosts fur
7111
Debit Credit
103,000
423,000
249,AOO
rtssig nrnent Print View
Acr :t. No.133
llalance
276,296
379,286
802,286
1 ,051 ,296
Octoberr.
Goods in Process lnrcntory
Dart e Explanation
Ocl:. 1 Balance
31 Direct materials
:3’tr Direct labor
:3’l Applied owrhead
Its beginning goods in process consisted of $43,030 of direct rnaterials, $79,920 ot direct labor, and
$153,3,36 of fuctory or,erhead. During October, the company start,:d 144,000units and transfenEd 151,000
units tr)finished goods. At theend of the month, the goods in pn,:ess inrentory consisted of 20,800 units
that were 80% complete with respect to direct labor and hctory ov:rrhead.
Required:
l. Prepare the companyb process cost summary for October using the weighted-arerage method. {Round
you:r cosl per EUp an$,uers to 3 decimal places anl consider the same in the other
calc.ulationg Round other an${rers to the nearesf dollat irmounl Omit the “$” sign in your
req:ronse.)
EASTON CO.
Process Cost Summary
For Month Ended October 31
Tc{:il [eginnirg goods ln process
tLilick to sdect)
Tokrl inrcuned this penod
Tota I r::r:sts to accor.rnt firr $
Unit c, rst inforrnation
Units accounted for
(CIick to select)
{Gick to sdect)
t
–
?
Total units accountd forTotal units to acconnt for
Equiwlent units of production
@r-i
@ili
Equivalernt units of production
mrt
@iir
Total corlts
@I
Cost pe,r EUP
Drect t/aterials Drect Labor Factory Owrhead
EUP
EUP
EUP
EUP
EUP
EUP
EUP EUP EUP
Dire:;t Materials Direct Labor Factory Orcrhead
$
EUP
per EUP
EUP
per EUP
EUP
per EUP
Cost assignment and reconciliation
Costs lri:lnsfered out
(Clic’k to select) lv
k
?
iT
!m
itF
Clicl.,r to select
Clictl to select
Total trirnrsfened out
Costs cil ending goods in process
ezto. mhecl oud. nrc g r av\F hi I I .’c,r:rndhm. tpx
Cor;’tsi; Charged to Production
Units to account for
iGi;1,r,
‘io sdect)
8111
(Cliic,k to select) I
(Clrickr to select) v
2t25113 Assigtrnent PrintView
Prepare the joumal entry dated October 31 to transfer the cost of the comdeted units to finished goods
in\,entoD/. {Omit the “$” dgn in your response.}
Date General Joumal Debit Credit
oct.:31 @ –TJ]
bforkshe,efi
FraSlem 1€i-4A Prccess c+sls*m maty: eguirraienf
unifs 1″6. t-)il, S3, F4
Problem ? 6-54 Process cast summary, equivalent unifg cosl esfl:xafes L.A. C2, C3, P4
phefollowing lnformation appliesto ffie quesf,bns displayed below.l
Ogden Co. manufactures a single product in one department. All direct materials are added at the
beginning ol the manufacturing process. Direct labor and or,erhealj are added evenly throughout the
process. Thre company uses monthly reporting periods for its weight{d-a\erage prcrcess cost accounting.
During Octobel the company completed and transfened 23,200 units of product to finished goods
inrentory. ft{i 4,100 units of beginning goods in process consisted of 5i20,000 o{ direcl matedals, $205,300
of dit.ect labor, and $98,840 of factory or,erhead. lt has 2,200 units (1 00% complete with respect to direct
materials and 800/o complete with respect to direct labor and owrhr:nd) in process at month-end. After
entries to recod direct materials, direct labor, and o\ierhead for Octobrr, the company’s Goods in Process
ln\entory account follows.
Total reinrJing goods in process
Total corsts to account for
Goods in Process ln\entory
Date Explanation
Oct. 1 Balance
31 Direct materials
31 Direct labor
31 I ApplieO owrhead
+-‘u’ rJl
Debit Credit
495,900
1,288,300
982,44A
Acct. ttlo.133
Balartce
3:14,140
8;10,040
2,108,340
3,0!)0,780
$ection friir4*’63
Pr*blerx I ti’-54 Pr***ss ctlst stltrtr:rl*{y, eqLJivzl*nt
u*its, cast#,:;ti{rc6fes L.*. C2, C:i, P4
_U;:
^an f
13.
Problem t’6-SA Pad 1
1. Prepare the company’s process cost summary for October using the weighted-arcrage method.{Round
your co$ per €UP an$,vers to 2 decimal places anrl eonsider the same in the other
calcrulations, Round olher ans\n ers to the neare* dollal amount Qmit the “$” Sgn in your
response.)
OGDEN CO.
Process Cost Summary
For Month Ended October 31
Crcsts Charged to Production
Tiolhill beginning goods in process
C,o’t;ts incuned this period
ezto. nthecl oud. i’itcg ravir” hi I I . cotftm. tpx 9t11
(Click to select) f
(Click to select)
2125t13
Totill incuned this period
Trrtall costs to account for
Units to account for
(tlliuk to select) rr
(illick to select) !F
Tollilll units to account for
Equirclent units of produetion
(C:lick to select) f v
re[s
Equi’vialent units of production
Cost per EUP
(Clit;l’r to select) l-
ffi[
Toterl costs
{Clicl< to select) i-
Gos't p,er EUP
Cost assignment and reconciliation
Costrs ll,nansfened out
(C:lick to select T
F
f
x
?
Clilc,k to select
Clic:k to select)
Total transferred out
Costs nf endinq qoods iSL::i ot enAlng 9OOOS ln PrOceS
(Cli,tk to select) I -
(Clirll< to select) ?
(Ctir:l< to seleet) rr
rtssig nnrcrit Print View
$
Unill cost information
EUP
EUP
EUP
EUP
per EUP $
Units accounted for
Click to select ?
n
TClick to select)
Total units accounted for
Dre,:;t Materials Direct Labor
EUP
EUP
EUP
EUP
per EUP $
Factory Owrhead
EUP
,::
EUP
EUP
per EUP
Total r:nding goods in process
Total crlrits to account for $
Warksheet
Prnblem f li."iiA Fart'l
Problem 16-5;A Pad 2
2. Prepare the joumal entry dated October 31 to transfur the cost ol'comdeted units to finished goods
in\entory, {Omit the "$" sign in your response,}
Date General Joumal Debit Credit
Oct. 31
ffi
ezto. nhecl oud. nng raur hi I l. convhm.tpx 10111
sign in your response.)
Dinte General Joumal
M,a1r .J1
2(j) Prepaue joumal entry dated May 31 to record the sale of finish,:d goods. {Omit the “$” sign in your
resprsrYl$s.1
Date Debit Credit
May, 31
@ —-lI
General Joumal
Debit Credit
It
Worksh*r*l
Fr*b lem t fi:-1 A Part ? . -:,
! ^:”
Problem 16-2,4 Cost per equivalent unrt; cosfs assrgned fo produc,tl L.O. C2, C3
[The following inform ation ap plies to fhe guestrbns disp layed b e low.]
Fairfax Company uses weighted-a\,erage process costing to account for its production costs. Direct labor is
added elenly throughout the process. Dircct materials are added at th,:r beginning ofthe process. During
September, the company transbned 785,000 units of product to finisheC goods. At the end d September,
the goods in process in\,entory consists of 179,000 units that are 50(i5 complete with respect to labor.
Begtnning antentory had $375,96O of direct matedals and $65,588 of direrlt labor cost. The direct labor cost
added in September is $1,246,162, and the direct materials cost added iri’ $2,516,949.
sectionBreak :::iffilifi”:'”f ,:;:3i::3′:””u'”‘””
o
Prablem 16-.11,,4, Part I
Required:
1(a) Determitrrir the equiwlent units of production with respect to direct liltnr.
ezto.rrhec I oud. nrc g r auF h i I I . r;lrm/h m. tpx 6t11
both the direct labor cost and the direct materials
to 2 decimal place. Omit the ‘$” sign in your re
rHffiTt Print Meuv
per equiwlent unit. {Round
.l
{(b)
Prable
Problem
2-
Di
Di
Warks
-r$ij,
Prabfem 1
3(a) Com
out.
am
start of
USES
Process
tl
l-lo Part 2
i
Aa-zn Part I
I
I’1.
I
I
I
I
I
I
-l,r i-tt
.1″bcmt
,f”!91″8,”d
aterials
your
Per equiulent
unit
$
i* ‘*”**’-
i
q
i=..-“–_..,.,___ :_” -“i
Part 2
11,
Part 3
both direct labor cost and direct materials cost ass
nd your per unit costs to 2 decimal places and
to units cornpleted and tmnsfuned
I anwrrers to the neares* dsllar
to ending goods in process
Cost transfened
out
$l
**-*i
materials
decimal
cost
I places final an$rers to the neares*
dolla
I goods in pnrcess
Prabtem 1 Pa* 3
Prablem I
Easton Co. ces its product thrwgh a single processing depart Direct rnaterials are added at the
, and direct labor and orcrhead are added erenly the process. The company
rcporting periods for its weighted-a\€Ege process ng system. lts Goods in
account bllcnrs afrer entries for direct materials,
both direct labor cost and direct
ti {Round ycur per unit cosfs ttr 2
*rountl
I’
I
j Costs of ending
1
I
process cosf sumffnry; egunralenf unrfs L.A. C2,
ezto. nhecl oud. nrcg raru- hi I tpx
labor, and owrfiead eosts fur
7111
Debit Credit
103,000
423,000
249,AOO
rtssig nrnent Print View
Acr :t. No.133
llalance
276,296
379,286
802,286
1 ,051 ,296
Octoberr.
Goods in Process lnrcntory
Dart e Explanation
Ocl:. 1 Balance
31 Direct materials
:3’tr Direct labor
:3’l Applied owrhead
Its beginning goods in process consisted of $43,030 of direct rnaterials, $79,920 ot direct labor, and
$153,3,36 of fuctory or,erhead. During October, the company start,:d 144,000units and transfenEd 151,000
units tr)finished goods. At theend of the month, the goods in pn,:ess inrentory consisted of 20,800 units
that were 80% complete with respect to direct labor and hctory ov:rrhead.
Required:
l. Prepare the companyb process cost summary for October using the weighted-arerage method. {Round
you:r cosl per EUp an$,uers to 3 decimal places anl consider the same in the other
calc.ulationg Round other an${rers to the nearesf dollat irmounl Omit the “$” sign in your
req:ronse.)
EASTON CO.
Process Cost Summary
For Month Ended October 31
Tc{:il [eginnirg goods ln process
tLilick to sdect)
Tokrl inrcuned this penod
Tota I r::r:sts to accor.rnt firr $
Unit c, rst inforrnation
Units accounted for
(CIick to select)
{Gick to sdect)
t
–
?
Total units accountd forTotal units to acconnt for
Equiwlent units of production
@r-i
@ili
Equivalernt units of production
mrt
@iir
Total corlts
@I
Cost pe,r EUP
Drect t/aterials Drect Labor Factory Owrhead
EUP
EUP
EUP
EUP
EUP
EUP
EUP EUP EUP
Dire:;t Materials Direct Labor Factory Orcrhead
$
EUP
per EUP
EUP
per EUP
EUP
per EUP
Cost assignment and reconciliation
Costs lri:lnsfered out
(Clic’k to select) lv
k
?
iT
!m
itF
Clicl.,r to select
Clictl to select
Total trirnrsfened out
Costs cil ending goods in process
ezto. mhecl oud. nrc g r av\F hi I I .’c,r:rndhm. tpx
Cor;’tsi; Charged to Production
Units to account for
iGi;1,r,
‘io sdect)
8111
(Cliic,k to select) I
(Clrickr to select) v
2t25113 Assigtrnent PrintView
Prepare the joumal entry dated October 31 to transfer the cost of the comdeted units to finished goods
in\,entoD/. {Omit the “$” dgn in your response.}
Date General Joumal Debit Credit
oct.:31 @ –TJ]
bforkshe,efi
FraSlem 1€i-4A Prccess c+sls*m maty: eguirraienf
unifs 1″6. t-)il, S3, F4
Problem ? 6-54 Process cast summary, equivalent unifg cosl esfl:xafes L.A. C2, C3, P4
phefollowing lnformation appliesto ffie quesf,bns displayed below.l
Ogden Co. manufactures a single product in one department. All direct materials are added at the
beginning ol the manufacturing process. Direct labor and or,erhealj are added evenly throughout the
process. Thre company uses monthly reporting periods for its weight{d-a\erage prcrcess cost accounting.
During Octobel the company completed and transfened 23,200 units of product to finished goods
inrentory. ft{i 4,100 units of beginning goods in process consisted of 5i20,000 o{ direcl matedals, $205,300
of dit.ect labor, and $98,840 of factory or,erhead. lt has 2,200 units (1 00% complete with respect to direct
materials and 800/o complete with respect to direct labor and owrhr:nd) in process at month-end. After
entries to recod direct materials, direct labor, and o\ierhead for Octobrr, the company’s Goods in Process
ln\entory account follows.
Total reinrJing goods in process
Total corsts to account for
Goods in Process ln\entory
Date Explanation
Oct. 1 Balance
31 Direct materials
31 Direct labor
31 I ApplieO owrhead
+-‘u’ rJl
Debit Credit
495,900
1,288,300
982,44A
Acct. ttlo.133
Balartce
3:14,140
8;10,040
2,108,340
3,0!)0,780
$ection friir4*’63
Pr*blerx I ti’-54 Pr***ss ctlst stltrtr:rl*{y, eqLJivzl*nt
u*its, cast#,:;ti{rc6fes L.*. C2, C:i, P4
_U;:
^an f
13.
Problem t’6-SA Pad 1
1. Prepare the company’s process cost summary for October using the weighted-arcrage method.{Round
your co$ per €UP an$,vers to 2 decimal places anrl eonsider the same in the other
calcrulations, Round olher ans\n ers to the neare* dollal amount Qmit the “$” Sgn in your
response.)
OGDEN CO.
Process Cost Summary
For Month Ended October 31
Crcsts Charged to Production
Tiolhill beginning goods in process
C,o’t;ts incuned this period
ezto. nthecl oud. i’itcg ravir” hi I I . cotftm. tpx 9t11
(Click to select) f
(Click to select)
2125t13
Totill incuned this period
Trrtall costs to account for
Units to account for
(tlliuk to select) rr
(illick to select) !F
Tollilll units to account for
Equirclent units of produetion
(C:lick to select) f v
re[s
Equi’vialent units of production
Cost per EUP
(Clit;l’r to select) l-
ffi[
Toterl costs
{Clicl< to select) i-
Gos't p,er EUP
Cost assignment and reconciliation
Costrs ll,nansfened out
(C:lick to select T
F
f
x
?
Clilc,k to select
Clic:k to select)
Total transferred out
Costs nf endinq qoods iSL::i ot enAlng 9OOOS ln PrOceS
(Cli,tk to select) I -
(Clirll< to select) ?
(Ctir:l< to seleet) rr
rtssig nnrcrit Print View
$
Unill cost information
EUP
EUP
EUP
EUP
per EUP $
Units accounted for
Click to select ?
n
TClick to select)
Total units accounted for
Dre,:;t Materials Direct Labor
EUP
EUP
EUP
EUP
per EUP $
Factory Owrhead
EUP
,::
EUP
EUP
per EUP
Total r:nding goods in process
Total crlrits to account for $
Warksheet
Prnblem f li."iiA Fart'l
Problem 16-5;A Pad 2
2. Prepare the joumal entry dated October 31 to transfur the cost ol'comdeted units to finished goods
in\entory, {Omit the "$" sign in your response,}
Date General Joumal Debit Credit
Oct. 31
ffi
ezto. nhecl oud. nng raur hi I l. convhm.tpx 10111
- sign in your nrsponse,)
Workshreirrt
Prablem I fi-f A Farl l
iliffrcu{g: i-{ard
Problem 16.14 Part 2
2(a) Prepare joumal.entry dated May 31 to record the raw materials purchases. (Omit the “$” sign in your
response.)
DatE General Joumal Debit Credit
May 31rm
2(b)Prepare ioumal entry dated May 31 to record the direct matedal$ usage. {Omit the “$” dgn in your
resp$niiie”)
Datel
May il”l
Debit Credit
%
2(c)Prepare ianmal entry datd May 31 to recqd the indirect matetidtl ussge. (Offit &e ‘$” sign in yaur
respsilriil:l-l
Datr: Debit Credit
May 31
ffi
2(d) Preparejoumal entry dated May 31 to record the payroll costs. {Onrit the “$” sign in your response.)
Datt’r General Joumal Debit Credit
General Joumal
(Click to select) l-
General Joumal
General Joumal
May 31
ffi
2(e)Prepare joumal entry dated May 31 to record the direct labor crrsts. {Omil the “$” sign in your
resp*n $*,, !
Date Debit Credit
May 31
ffi
2(f) Prepare joumal entry dated May 31 to record the indirect labor crrsts. (Omit the “$” dgn in your
resPcnsie”)
ezto.n*recl oud.nrcg ranrrhil l.r:inry’hm.px
– ‘tij
5111
l[late General Joumal Debit Credit
t\/ery31 @
-Fl(Click to select) | Y
2(g)Preparc joumal entry dated May 31 to record the otherorerhr:ad costs. (Omit the “$” sign in your
res4xlnse.)
Dtate General Joumal Debit Credit
Glick to select) i v
2(h)Prcpare joumal entry dated May 31 to recod the orerhead applied. (Omit the “$” sign in your
r*$pfil’nss.)
[]’ate General Joumal Debit Credit
May 31
W
2(i) Prepate.ioumal entry dated May 31 to rccod the goods transft:ned ftom production to finished goods.
{Omit the “$’ sign in your response.)
I\{ilry 31
Dinte General Joumal
M,a1r .J1
2(j) Prepaue joumal entry dated May 31 to record the sale of finish,:d goods. {Omit the “$” sign in your
resprsrYl$s.1
Date Debit Credit
May, 31
@ —-lI
General Joumal
Debit Credit
It
Worksh*r*l
Fr*b lem t fi:-1 A Part ? . -:,
! ^:”
Problem 16-2,4 Cost per equivalent unrt; cosfs assrgned fo produc,tl L.O. C2, C3
[The following inform ation ap plies to fhe guestrbns disp layed b e low.]
Fairfax Company uses weighted-a\,erage process costing to account for its production costs. Direct labor is
added elenly throughout the process. Dircct materials are added at th,:r beginning ofthe process. During
September, the company transbned 785,000 units of product to finisheC goods. At the end d September,
the goods in process in\,entory consists of 179,000 units that are 50(i5 complete with respect to labor.
Begtnning antentory had $375,96O of direct matedals and $65,588 of direrlt labor cost. The direct labor cost
added in September is $1,246,162, and the direct materials cost added iri’ $2,516,949.
sectionBreak :::iffilifi”:'”f ,:;:3i::3′:””u'”‘””
o
Prablem 16-.11,,4, Part I
Required:
1(a) Determitrrir the equiwlent units of production with respect to direct liltnr.
ezto.rrhec I oud. nrc g r auF h i I I . r;lrm/h m. tpx 6t11
both the direct labor cost and the direct materials
to 2 decimal place. Omit the ‘$” sign in your re
rHffiTt Print Meuv
per equiwlent unit. {Round
.l
{(b)
Prable
Problem
2-
Di
Di
Warks
-r$ij,
Prabfem 1
3(a) Com
out.
am
start of
USES
Process
tl
l-lo Part 2
i
Aa-zn Part I
I
I’1.
I
I
I
I
I
I
-l,r i-tt
.1″bcmt
,f”!91″8,”d
aterials
your
Per equiulent
unit
$
i* ‘*”**’-
i
q
i=..-“–_..,.,___ :_” -“i
Part 2
11,
Part 3
both direct labor cost and direct materials cost ass
nd your per unit costs to 2 decimal places and
to units cornpleted and tmnsfuned
I anwrrers to the neares* dsllar
to ending goods in process
Cost transfened
out
$l
**-*i
materials
decimal
cost
I places final an$rers to the neares*
dolla
I goods in pnrcess
Prabtem 1 Pa* 3
Prablem I
Easton Co. ces its product thrwgh a single processing depart Direct rnaterials are added at the
, and direct labor and orcrhead are added erenly the process. The company
rcporting periods for its weighted-a\€Ege process ng system. lts Goods in
account bllcnrs afrer entries for direct materials,
both direct labor cost and direct
ti {Round ycur per unit cosfs ttr 2
*rountl
I’
I
j Costs of ending
1
I
process cosf sumffnry; egunralenf unrfs L.A. C2,
ezto. nhecl oud. nrcg raru- hi I tpx
labor, and owrfiead eosts fur
7111
Debit Credit
103,000
423,000
249,AOO
rtssig nrnent Print View
Acr :t. No.133
llalance
276,296
379,286
802,286
1 ,051 ,296
Octoberr.
Goods in Process lnrcntory
Dart e Explanation
Ocl:. 1 Balance
31 Direct materials
:3’tr Direct labor
:3’l Applied owrhead
Its beginning goods in process consisted of $43,030 of direct rnaterials, $79,920 ot direct labor, and
$153,3,36 of fuctory or,erhead. During October, the company start,:d 144,000units and transfenEd 151,000
units tr)finished goods. At theend of the month, the goods in pn,:ess inrentory consisted of 20,800 units
that were 80% complete with respect to direct labor and hctory ov:rrhead.
Required:
l. Prepare the companyb process cost summary for October using the weighted-arerage method. {Round
you:r cosl per EUp an$,uers to 3 decimal places anl consider the same in the other
calc.ulationg Round other an${rers to the nearesf dollat irmounl Omit the “$” sign in your
req:ronse.)
EASTON CO.
Process Cost Summary
For Month Ended October 31
Tc{:il [eginnirg goods ln process
tLilick to sdect)
Tokrl inrcuned this penod
Tota I r::r:sts to accor.rnt firr $
Unit c, rst inforrnation
Units accounted for
(CIick to select)
{Gick to sdect)
t
–
?
Total units accountd forTotal units to acconnt for
Equiwlent units of production
@r-i
@ili
Equivalernt units of production
mrt
@iir
Total corlts
@I
Cost pe,r EUP
Drect t/aterials Drect Labor Factory Owrhead
EUP
EUP
EUP
EUP
EUP
EUP
EUP EUP EUP
Dire:;t Materials Direct Labor Factory Orcrhead
$
EUP
per EUP
EUP
per EUP
EUP
per EUP
Cost assignment and reconciliation
Costs lri:lnsfered out
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k
?
iT
!m
itF
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Clictl to select
Total trirnrsfened out
Costs cil ending goods in process
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Cor;’tsi; Charged to Production
Units to account for
iGi;1,r,
‘io sdect)
8111
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(Clrickr to select) v
2t25113 Assigtrnent PrintView
Prepare the joumal entry dated October 31 to transfer the cost of the comdeted units to finished goods
in\,entoD/. {Omit the “$” dgn in your response.}
Date General Joumal Debit Credit
oct.:31 @ –TJ]
bforkshe,efi
FraSlem 1€i-4A Prccess c+sls*m maty: eguirraienf
unifs 1″6. t-)il, S3, F4
Problem ? 6-54 Process cast summary, equivalent unifg cosl esfl:xafes L.A. C2, C3, P4
phefollowing lnformation appliesto ffie quesf,bns displayed below.l
Ogden Co. manufactures a single product in one department. All direct materials are added at the
beginning ol the manufacturing process. Direct labor and or,erhealj are added evenly throughout the
process. Thre company uses monthly reporting periods for its weight{d-a\erage prcrcess cost accounting.
During Octobel the company completed and transfened 23,200 units of product to finished goods
inrentory. ft{i 4,100 units of beginning goods in process consisted of 5i20,000 o{ direcl matedals, $205,300
of dit.ect labor, and $98,840 of factory or,erhead. lt has 2,200 units (1 00% complete with respect to direct
materials and 800/o complete with respect to direct labor and owrhr:nd) in process at month-end. After
entries to recod direct materials, direct labor, and o\ierhead for Octobrr, the company’s Goods in Process
ln\entory account follows.
Total reinrJing goods in process
Total corsts to account for
Goods in Process ln\entory
Date Explanation
Oct. 1 Balance
31 Direct materials
31 Direct labor
31 I ApplieO owrhead
+-‘u’ rJl
Debit Credit
495,900
1,288,300
982,44A
Acct. ttlo.133
Balartce
3:14,140
8;10,040
2,108,340
3,0!)0,780
$ection friir4*’63
Pr*blerx I ti’-54 Pr***ss ctlst stltrtr:rl*{y, eqLJivzl*nt
u*its, cast#,:;ti{rc6fes L.*. C2, C:i, P4
_U;:
^an f
13.
Problem t’6-SA Pad 1
1. Prepare the company’s process cost summary for October using the weighted-arcrage method.{Round
your co$ per €UP an$,vers to 2 decimal places anrl eonsider the same in the other
calcrulations, Round olher ans\n ers to the neare* dollal amount Qmit the “$” Sgn in your
response.)
OGDEN CO.
Process Cost Summary
For Month Ended October 31
Crcsts Charged to Production
Tiolhill beginning goods in process
C,o’t;ts incuned this period
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(Click to select) f
(Click to select)
2125t13
Totill incuned this period
Trrtall costs to account for
Units to account for
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(illick to select) !F
Tollilll units to account for
Equirclent units of produetion
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re[s
Equi’vialent units of production
Cost per EUP
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ffi[
Toterl costs
{Clicl< to select) i-
Gos't p,er EUP
Cost assignment and reconciliation
Costrs ll,nansfened out
(C:lick to select T
F
f
x
?
Clilc,k to select
Clic:k to select)
Total transferred out
Costs nf endinq qoods iSL::i ot enAlng 9OOOS ln PrOceS
(Cli,tk to select) I -
(Clirll< to select) ?
(Ctir:l< to seleet) rr
rtssig nnrcrit Print View
$
Unill cost information
EUP
EUP
EUP
EUP
per EUP $
Units accounted for
Click to select ?
n
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Total units accounted for
Dre,:;t Materials Direct Labor
EUP
EUP
EUP
EUP
per EUP $
Factory Owrhead
EUP
,::
EUP
EUP
per EUP
Total r:nding goods in process
Total crlrits to account for $
Warksheet
Prnblem f li."iiA Fart'l
Problem 16-5;A Pad 2
2. Prepare the joumal entry dated October 31 to transfur the cost ol'comdeted units to finished goods
in\entory, {Omit the "$" sign in your response,}
Date General Joumal Debit Credit
Oct. 31
ffi
ezto. nhecl oud. nng raur hi I l. convhm.tpx 10111