# Calculations 1-14 revised

See attached revised file.

3t3113

Exercise 1 6-15 Completing a process cost summary L.O. C3
The following partially completed process cost summary describes the May production activities of Raman
Company. lts production output is sent to its warehouse for shippinll.

Er;uiwlent units of production
Units ttra,nsfened out
Units cif r::nding goods in process

Equiwllernt units of production

Costs

per

EUP

Costs ofllleginning goods in process
Costs inin;uned this period

Total c01il;1;s \$908,800

Units ir:r Jireginning goods in process 7,0A0
Units slti:rrl.ed this period 135,000
Units cr)rnpleted and transfened out 122,000
Units in r:lnding goods in process

20,000

Prepare ilr:; process cost summary using the weighted-arerage ‘n,ethod. {ffi*u*”rd ysss”
#ffis\tr*r{;; llc\$ * d**\$stt*\$ p\$mcex *maf m*msid*r the ss\$T* I*”r tF ie *t*”ser *m\$*u\$at\$*ns”
*nsn&r#ils li:*’ the rte*r*S **\$*r #r*’]sqJ

Direct

Materials

1 22,000

20:000

–::::::
Direct

Materials
\$ 35,000

873,900

Direct F:tactory

122,000 1,22,000

]orooo ]o’:oo
132,000 1 ,32,000

Direct l:iactory

\$ 1,600 {; 3,200
1041000 308,000

\$105,600 {,211,200

*qls* g*wr ffi{-\$F
ffi,e***nd qlth**n

RAMAN COMPANY
Process Cost Summary

For Month Ended May 31
to ProductionCosts Ch

,-t- L– -E r .

ezts.mhecl oud. ntcg raw hi ll I .com/hm,tpx

Total cori;1l,s to account for

Units to account for
Units s;tmfted this period +

nt
tinnin,* qoods in orocess

Total unil,s to account for

E,quiralent Units of Production (EUP)

Units c;ornpleted and transfened out T

l u”itr ,;; i

i

Equivaft,:nirl, units of production

Cost

per EUP

lc”rts ;;i,”i

f c”qL-_iil,

Total cosrt

\$

lEqri*il1|
Cost peir lEiiUP

i:lg,800

1)rl15r8oo

.,^.’.:.”1.’?:::o:,

Unit co::,t information

135,00:|

7,00r.

I

Units accounted for

Compteted & transfened out z r
Endina qoods in process i ”

1 22,000
20,000

Direct Materia s

Total units accounted for

Direct Material:rs

\$

\$

Cost assignment and reconciliation

per EUP

Direct Labor

per EUP per EUP

1t11

uosts relnfi’Tereo ou

l

Factory errre*r€?d f

Direct niaterials r

Direct latNrr !r

3lsl13 Assigrrrent PrintMew

Total trant’i’lbned out

Costs of endino ooods in orocess
(Click to s,elect) ?

Direct rnaterials ?

Total enrlinrg goods in process

Total costs; accounted for

Y\$:nrffi.
llllorkshr::r:r1l;

Fxercise :tti-f 5 Cornplefirig a prCIsess cssf s{Jrnff?ary
r.o. c3

Exercise ‘t6-4 Recording overhead casts L.O. P3
Prepare joumal entries to record the following production acti\,ities.

l. Paid civerhead costs (otherthan indirect materials and indirect labor) of \$23,000. {Omit the “\$” sign in

2.

General Joumal

trIII
tF

General Journal

EPl:r

ti

.;

Vierar-.flint #1

Worksh,Hret

Debit

Cred

it

23,004

2. Used \$58,000 of direct laborin production. Applied o\erhead at ti5% of direct laborcosts. {Omitthe “\$”

Debit

49,300

23,000

Credit

49,300

.+w{- ‘i.-i’ –

3.

Exercise ’16-11A Costs assigned to output-FlFO L.O. C4, P4
During l\pril, the production department of a process manuhcturing system completed a number of units of
a produbt and transfened them to fnished goods. Of these tmnsfr;ned units, 59,000 were in process in the
production department at the beginning of April and 310,000 werc started and completed in Apdl. Apdl’s
beginning inrcntory units were 7oo/o comdete with respect to mal:erials and 30Yo complete with respect

to

labor. At the end of Aptil, 87,000 additional units were in proces\$ in the production department and rvere
600/o complete with respect to materials and 600/o complete with rerspect to labor.

The production department had \$1,025,000 ofdirect materials an(l \$672,000 of direct labor cost charged to
it during April. Also, its beginning in\€ntory included \$121,840 of direct materials cost and S49,890 of direct
labor.

1. UsirigtheF|FOmethod,computethedirectmaterialscostandthedirectlaborcostperequiraalentunit
fcr the department. {Round your ans!\rers to 2 decimal places, Omit the “\$”

dgn in your

reqionse.)

Direct Materials Direct Labor
Cost per equiralent unit \$ EUP \$ EUP

ezto.nfecloud.nrcg ravr hi ll.corn/hrntpx

Lx

2111

Y313 Assignnent PrintMarrr

2. Using the FIFO method, assign April’s costs to the depall.ment’s output–specifically, its units
transfened to finished goods and its ending goods in process in\entory. {Round your intermediate

Totarl cost \$
t ‘,

V!E!-!r!!-dl

Hjorkshr-‘,rut .i;’.

4,

Exercise 1l);134 Equiualent unr’ts computed-FlFO L.O. C4
The production department in a process manufacturing system cornpleted 196,500 units of product and
frarrsfened them to finished goods during a rccent period. Of these units, 28,000 were in process at the
beginning oF the period. The other 168,500 units were started and (iompleted during the period. At period
end, 25,500 units were in process.

Compute the department’s equi\alent units of production with respecl: to direct materials under each of the
three separate assumptions using the FIFO method for process costing.

1. All dinslt materials are added to products when processing begins.

Total IEUP

2. Dircct traterials a€ added to poducts erenly throughout the process. Beginning goods in process
invenkrry was 45% comdete, and ending goods in process inr,ent

Total EUP

3. One+alf of direct materials is added to prcducts r,vhen the procer;s begins and the other half is added
lvhen lhe process is 70% complete as to direct labor. Beginning goods in prccess inventory is 30%
comdel:e as to direct labor, and ending goods in process imentor) is 55% complete as to direct labor.

Total EUP

View Hi!!t!l

Workshepl:

5 . .:::- -*i..*-,…

Exercise 16-;5 Recarding cost of completed goods L.O” P4
Prepare joumal entries to record the follo,ving actiVties.

l- Transfened completed poducts with a cost of \$140,000 to fnjshed goods inr€ntory. tOmit fhe “\$” sign

General Joumal

Debit Credit

@iffi 14o,ooo

@ 14o,ooo

2. Sold\$449,000ofproductsoncredit.Theircostis\$174,000.{Omiil:he”\$”srigninyourresponse.}

General Joumal

@sr
Erls

@![r”*’*’d -l.l

ezto,ft*1,ecloud. rncg ra\ F hi I I . r:: om/l’rm.tpx

Debit Credit

449,000

449,000

174,000

3t11

3t3113

In

Raw materiialsi purchases (on credit)
Factory pay’rcltl cost (paid in cash)

Direct
lndirect

Labor used
Direct
lndirect

Owrhead rartr:l as a percent of direct labor
Sales (on creldit)

ezto. ntrrecl rud. ncg raw hi li I.corr/l’rm.tpx

Assig nrnent Print Mew

V_iew-lJiflL#1

Workshr**t Difficulty Mediun’,

^^,,.ri-* ^^ h* ^r ^^^, nrnr^r ^^^-r_ l-earning Obj*ctire: 1 S-P4 Record the transfer gffxercise’ i’t3-5 Reecrct’ing cosf of conrplefect’ goods *”*’ ”.’ ‘:
L.0. p4 ‘

– – – “‘- – — -‘ r c*mpl*t*4 g**r3’; t”* Finished *osds lnventory and
C**t *f G*ods Srlld”

Exercise 16-3 Recording costs of labar L.A. P2
Prepare jr:umal entries to recod the follovrting production actiVties.

1. lncunedtotal laborcostof\$77,000,whichispaidincash.(Omitt:he”\$”signinyourresponse.)

General Joumal Debit Credit
Effi 77,ooo

77,000[-am

General Journal

ri4
Itis

3. Used lli’n,5,000 of indirect labor. {Smit tF”re
**\$o’si\$n

ir”l yeiur resp*i’lse”}

General Joumal

EI

rl

l-.lrr-r:torypayroll j-l

View Figl..#1

Workgher*1[ ]ri:’.”.’:7-‘;i.;;:-7;:;;;t

C-.- .”,otj ‘:’:: 2 k#CrtrCinv#ssr+ zf ;fi-. *.i-r. P+
I :*’;iiitii {thij5*’ ‘ ” 1’:”–“: if o”-;rl fhe tl*rar 1f

rt|t^^

lab*, ur.JblF l. .”i . ::.2* ..:…,:…,;..:i:a.-.. -.:]”

Problem 16-1 A Production cost flow and measurement: journal enliies L.A. Pl , P2, P3, P4
[fhe foilowing Inform ation ap plies to ffi e guestrbns disp layed b elow]

Edison Company manufacturcs wool blankets and accounts for produc: costs using process costing. The
following infomation is available regarding its May inventories.

Beginning
.
Ending

lnr,entory lnlentory
Raw materials inventory \$ 57,000 \$ 49,000
Goods in pnocess inrentory 425,000 548,500
Finished gocds inwntory 636,000 333,001

The following additional information describes the company’s production i:rctivities for May.

‘174,O4A

Debit Credit

62,000

62,000

Debit Credit
15,000

1 5,000

Other orrerhrerad cost (Other Accounts credited) 99,000
Materials usied

\$ 300,000
1,600,000

\$ 195,500
70,000

\$ 707,000
893,000

12OYo

\$ 3,000,000

4111

313113 Print Mew

Probtem t6-1A P ;;;;;;,*-;;;
enfnes l”O. Pf, P2, F3, F4

\$ection

I

li

I

tneasuremenf,’ jo

Require
the cost of pnrducts transferred ful.n production to

youfl !sp*nse.)

of products transfened

rl

I

co#
rl

il

rl
I
I
I
i

Prabtemriti
il

ii
‘l

I

.i

l

&-t A Fart 1

{(a)

{ (b}

goods. {Omit the
*’\$” si\$n

– 4irecl

{Smit the “\$” sisn in your

tn

ti

goods soldof

Prablem I tA Fart 2
2(a) P l joumal entry dated May 31 to rccord the raw materials

it

re\$ps

General Joumal

2(b) Prepa,re joumal
respqnse.)

entry dated May 31 to record the direct materi usage. {Srnit the
nn\$”

Credit

i*”- -” ‘–“–

-..’..”‘: ..:..’….:

dgn in your

n ray ler

General Joumal Credit

,-.””. –. -,…..-. -. – – -, .”, .,.,,:

ir y*ur2(c) Prepqrp journal entry dated May 31 to record the indirect materfrp joumal
.espdtftn.)

General Joumal
..-..,

ir,-.-..-..’

Debit

:

“:
-__;

Debit Credit
i-*-‘:- *’***-l

..'”
.

irb journal entry dated May 31 to record the payroll costs. {
lil

General Joumal

z(ej

‘…….
joumal entry dated May 31

s8.l

joumal entry dated May 3’t

to

rr’rrill
ll

il

Geneml Joumal

rccord the direct

to record the indireet

ezto.mf,recl qd.ncg rzur hi
{
ll.uonr/frrn.tpx

313113

General Joumal

General Joumal

General Joumal

Finlshed goods inrentory i –

Assi g nnent Print View

Debit Credit
Debit Credit
Debit Credit

finishe ,C goods. {*rxtit t\$rs
u’

x\$gx’r im y*isn

Debit Credit

Factory payroll i-

2(g)PrepaLre joumal entry dated May 31 to record the other orerhei:rd costs. {Omit the “\$” sign in your
respc,n\$e.)

[]taLte

Mi;rr1 31

Detil,e

Malr 31

Dial.r:l

Mar’y |ll

Other accounts i .

response.)

Date General Joumal Debit Credit
Mary’,31 Goods in process inrentory i –

2(i) Prepare joumal entry dated May 31 to record the goods transfu’red fiom production to finished goods.

Goods in process inrentorv iv

2(i) Prepiar,cr joumal entry dated May 31 to record the sale of
respull”r**e.)

Dirle General Joumal
tr13′,1 1i3,1 Accounts r€cei\a:ble i-

Finished goods inrentorv i r

9.

Pr*blem f \$,i;i:,4 Part I
Required:
1(a) Detenrniine the equiwlent units of production with respect to direct larbor.

ezto.mhecl oud.mcg ra\ F hi I L r::omlhm.tpx

Wcrks*r*,e,it
{71/”tn-‘ ‘ ”

Problem 16-24 Cost per equiuatent unit; cosfs assrgned fo produc,s L.A. C2, C3
[The folowing inform ation applies to the guestbns disp I ayed b e low.]

Fairfax Company uses weighted-a\’eEge process costing to account for its production costs. Direct labor is
added er,enly throughout the process. Dircct materials are added at th,3 beginning of the process. During
September, the company transfened 785,000 units of product to finisherd goods, At the end of September,
the goods in process in\,entory consists of 179,000 units that are 50t/o complete with respect to labor.
Beginning inu?ntory had \$375,960 of direct materials and \$65,588 of din;ct labor cost. The direct labor cost
added in Seplember is \$1,246,162, and the direct materials cost added ir; \$2,5.16,040.

Section Breatk Prablern 16-24 Coe;l frer equivalent unit costs
assigned fo prodilct:; i-.O. C2, C3

6t11

313113 nrnent Print Mers

materials.{(b) the equiwlent units of production with respect to d

both the direct labor cost and the direct materials
to 2 decimal place- Omit the *\$* s\$gn in your re

Per equiulent
unit

\$; i
]x,s”4+-r#rF,@aF.,–*’.–.”*”,

: : . :’ . . -.: : : : .:.,,.\$,,i,,=tr,,,,,,,,,t,t,-::::::::=::j, :: :

Par{ 3
both direct labor cost and direct materials cost assig

und your per unit co* to I decimal places and
l

Cost transfened
out

aterials \$i
“”” “^**–*:

|p,”.,*”**’.*,’*.’.-‘.,*-*’.**;

abor \$i i
::::.:,:,…i..-:r.-.:::…::…, ..: -…:,,:.::’.-:::::-.::::l:i:-:.i:.-!!,1.’:11t..-.’-::

both direct labor cost and direct materials cost
{Round yoilr per unit cas*s ttr I decimal pla
ount,)

per equiralent unit. {Rcund your
.)

to units completed and transfened
I ansuvers ts the neares dollar

to ending goods in process
nd firtal ansfi.ersi to the nearest

jti’Ar-oe^

L;
1″.’.* i-. a t ;tg ? \$ Us rI f II At y ai-, { . ii:: f* }; ;;:- !+Lt lrtran-‘ v .

2A Part 2

out.
amo

rt. .::.-t…::..

3(b) Corn

doll

12

ProSIem
Easton
start of

Proeess

ezto.nfrecl otd.mcg r aN-

Costs of ending
go4_g_”in_Prq9_-esg_

\$i
“””””._____-:

: :’- l,L”’-‘.=”r -‘:::-:’:*:’i. ,

–rrd lnnlnllfil
us€ iil process

Process sosf surnmary; eg\$ir/Elenf unrfs l”O. C?,
its product through a single processing Dircct materials are added at the

, and direct labor and orrertread are added er,enly the process. The company
reporting periods for its nreighted-a\Erage process accounting system. lts Goods in

account bllours afi,er entries for dlrect materials, labor, and onerfiead co’sts br

7tll

313113

October,

Goods in Process lnrentory
Date Explanation

Oct. ‘1 Balance
31 Direct materials
31 Direct labor

Assig nnent Print View

Acct, 1,,,lo.133
Ba lance

276,296

379,296

802,286
1 051 ,296

Unit cr:st information

Direct lVraterials

EUP
EUP

‘ ,-.”.|1.,:

Dire
‘c1:

Materials
\$
\$
\$
EUP
per EUP
Debit Credit

103,000

423,000
249,A00

Its beginnjng goods in process consisted of \$43,030 of direct nraterials, \$79,920 of direct labor, and
\$153,336 of factory overhead. During October, the company started 144,000 units and transfened 151,000
units to finished goods. At the end of the month, the goods in procr:ss iruentory consisted of20,800 units
that were 80% complete with respect to direct labor and hctory o\eri€ad.

Required:
1′ Prepare the companys process cost summary for October using the weighted-alerage method. {Round

your {iost per EUP anslvers to 3 decimal places and c:onsider the same in the other
calculations. Round other ans,rrers to the nearest dollar iilnount Omit the “\$” dgn in your
reryonse.)

EASTON CO.
Process Cost Summary

For Month Ended October 31
Costs;

Costsi
Oharged to Production

l:eginning goods in processTotal
Costs

Total inauned this period

Totail r::;rlsts to account for

Units to account for
Units r;tarted this period ?

xF

TBeginniing goods in process

Total unrits to account for

Equiwlent units of production

Units r:ompleted & transfered out tr

Unitli r:f ending goods in process T

Equirreril,ent units of production

Cost per EUP

Cost r:if beginning goods in process f v

Costs incuned this period i –

Total c;osts

Equi’unlent units of production t?

Cost per EUP
Cost assignment and reconciliation

Units accounted for
Ending goods in process ,

t{
fCompleted & transferred out

Total units accounted for

EUP
EUP
EUP
Direct Labor
\$
\$
EUP
EUP
EUP
\$
\$
EUP

per EUP \$

EUP
per EUP

Costs; transfened out
Direl:lt materials i

!
:
I

I
I
]

T
ffi
!r
tl
rr

Direrrc,t[ labor

Total triarnsfered out
Costs; r:,f ending goods in process

ezto.mhecl oud. rncg raw hi ll l, rtomftrm.tpx 8t11

lllileet materials T

lltlrect labor I

313113 Assignnent Print Mew

Total ,ending goods in process

Tot,illl r:osts to account for

2- Preparc the joumal entry dated October 31 to transfer the cost of the completed units to fnished goods

Di’rl e,

Oct, \$1

Debit CreditGeneral Joumal
Finistred goods inwntory i-

Goods in process inlentory f r

Wnrksher:lt , -…, ;-‘

I “‘.-” .-.’,
Prcb feni’ ‘! t:’4{ Pracess casf sum ?n ary; eguiyafenf ^

. , :^,
unr’fs j-.C). rl::?. *3, F4

– -j ,

Problem 16-54 Process cost sumrnary, equiualent units, cosf esfr?r?ates L.O. C2, C3, P4
[The tDflowing information applies to fhe guesfibns displayed balowJ

Ogden Co. manufactures a single product in one department. All direct materials are added at the
beginning of the manufacturing process. Direct labor and olerhead are added e\,enly throughout the
process. The company uses monthly reporting periods for its weighterla\€rage plocess cost accounting.
During Oct,olcer, the company completed and transfened 23,200 units of product to finished goods
inrentory. fts 4, 100 units of beginning goods in process consisted of \$i10,0O0 ol direct materials, \$205,300
of direct labor, and \$98,840 of factory o\erhead. lt has 2,200 units (10t)o/o complete with respect to direct
materials anrl 80% complete with respect to direct labor and owrhe.:rd) in process at month-end. After
entries to record direct materials, direct labor, and olerhead for October; the company’s Goods in Process
lnentory account fullows.

Goods in Process ln\,entory Acct. Nc.133
Date Explanation Debit Credit Balanr:e

Oct. 1 Balance 32″1.,140
31 Direct materials 495,900 820,040
31 Direct labor 1,288,300 2,1011,340

Section Bre;aik.

units.coste\$trf/.atesL.a.c2,cG,p4 ,::,'”.’;’.:
‘4:::: :; ‘eirrrt – ‘e”^::’-‘.;’s”‘-‘

;;;J:-t.:lld.
‘:”:””” “-:;”-‘lartd

13. ‘-1

Prablem 16-5.4 Part 1
l. Prepare the company’s process cost summary for October using lhe weightedarerage method.{Round

your cost per EUP ans,yers to 2 decimal places and r::cnsider the same in the other
responsP.)

OGDEN CO.
Process Cost Summary

For Month Ended October 31
Costs Charged to Production

(s rll’beoinninq ooods in
Dirtmt materials T

Dittrr;t labor v

Total lleginning goods in process

Costs incuned this period

ezto. rnhecl oud. nrcg raur hi I I . c;om/hm. tpx st11

313113 Assig nnent Print View

“?” _” _

Unit cost information

D’inect labor i-
llriiitect materials i.r

Totarl incurred this period

Total costs to account for

Units to account for
Beglinning goods in process i v
Units; started this oeriod iT

Totarl units to account for

Equiwlent units of production

E,li
@r;
Equi’*alent units of production

rerg
f’trr
Total (]osts

Effi
Cost plerr EUP

Cost assignment and reconciliation
Costs; liransfened out

Dinmt labor –
DinN:;t materials v

Total r:nrding goods in process

Total ccmts to account for

Units accounted for

Completed & transfened out v

Endino qoods in process i v

Total units accounted for

Direct Materials

EUP
EUP

..””-:::”u:. ..”-”

Direct Itlaterials

\$
Direct Labor
EUP
EUP

“:::. “”
Direct Labor

\$

EUP
EUP

_::::

\$

\$ \$

EUP

\$ 0 per EUP

\$

14.

Date

Oct. 3;1

ezto. nhecl oud. mcg raw hi I I .r::rrn/hm.tpx

Worksh*et

Pr*bl*m f S-l54 Part 1

Frob{em 16-:5,i., Part 2
2. Prepare 1ll’re journal entry dated

inrentorlr {\$mlt the

October 31 to transfer the cost of completed units to finished goods
y*ur resp*ns*.)

General Journal Debit Credit

Total trernsfened out

Costs; r:f endin

10111

!t. #sx’*\$t the o*\$*n s*gffi irx ymu r respffiffis#.]

Direct
Materials
1 22,000
20:000
–::::::
Direct
Materials
\$ 35,000
873,900
Direct F:tactory
122,000 1,22,000
]orooo ]o’:oo
132,000 1 ,32,000
Direct l:iactory
\$ 1,600 {; 3,200
1041000 308,000
\$105,600 {,211,200
*qls* g*wr ffi{-\$F
ffi,e***nd qlth**n
RAMAN COMPANY
Process Cost Summary
For Month Ended May 31
to ProductionCosts Ch
,-t- L– -E r .
ezts.mhecl oud. ntcg raw hi ll I .com/hm,tpx
Total cori;1l,s to account for
Units to account for
Units s;tmfted this period +
nt
tinnin,* qoods in orocess
Total unil,s to account for
E,quiralent Units of Production (EUP)
Units c;ornpleted and transfened out T
l u”itr ,;; ii
Equivaft,:nirl, units of production
Cost per EUP
lc”rts ;;i,”i
f c”qL-_iil,
Total cosrt\$
lEqri*il1|
Cost peir lEiiUP
i:lg,800
1)rl15r8oo
.,^.’.:.”1.’?:::o:,
Unit co::,t information
135,00:|
7,00r.I
Units accounted for
Compteted & transfened out z r
Endina qoods in process i ”
1 22,000
20,000
Direct Materia s
Total units accounted for
Direct Material:rs
\$
\$
Cost assignment and reconciliation
per EUP
Direct Labor
per EUP per EUP
1t11

uosts relnfi’Tereo oul
Factory errre*r€?d f
Direct niaterials r
Direct latNrr !r
3lsl13 Assigrrrent PrintMew
Total trant’i’lbned out
Costs of endino ooods in orocess
(Click to s,elect) ?
Direct rnaterials ?
Total enrlinrg goods in process
Total costs; accounted for
Y\$:nrffi.
llllorkshr::r:r1l;
Fxercise :tti-f 5 Cornplefirig a prCIsess cssf s{Jrnff?ary
r.o. c3
Exercise ‘t6-4 Recording overhead casts L.O. P3
Prepare joumal entries to record the following production acti\,ities.
l. Paid civerhead costs (otherthan indirect materials and indirect labor) of \$23,000. {Omit the “\$” sign in
2.
General Joumal
trIII
tF
General Journal
EPl:r
ti
.;
Vierar-.flint #1
Worksh,Hret
Debit Credit
23,004
2. Used \$58,000 of direct laborin production. Applied o\erhead at ti5% of direct laborcosts. {Omitthe “\$”
Debit
49,300
23,000
Credit
49,300
.+w{- ‘i.-i’ –
3.
Exercise ’16-11A Costs assigned to output-FlFO L.O. C4, P4
During l\pril, the production department of a process manuhcturing system completed a number of units of
a produbt and transfened them to fnished goods. Of these tmnsfr;ned units, 59,000 were in process in the
production department at the beginning of April and 310,000 werc started and completed in Apdl. Apdl’s
beginning inrcntory units were 7oo/o comdete with respect to mal:erials and 30Yo complete with respect to
labor. At the end of Aptil, 87,000 additional units were in proces\$ in the production department and rvere
600/o complete with respect to materials and 600/o complete with rerspect to labor.
The production department had \$1,025,000 ofdirect materials an(l \$672,000 of direct labor cost charged to
it during April. Also, its beginning in\€ntory included \$121,840 of direct materials cost and S49,890 of direct
labor.
1. UsirigtheF|FOmethod,computethedirectmaterialscostandthedirectlaborcostperequiraalentunit
fcr the department. {Round your ans!\rers to 2 decimal places, Omit the “\$” dgn in your
reqionse.)
Direct Materials Direct Labor
Cost per equiralent unit \$ EUP \$ EUP
ezto.nfecloud.nrcg ravr hi ll.corn/hrntpx
Lx
2111

Y313 Assignnent PrintMarrr
2. Using the FIFO method, assign April’s costs to the depall.ment’s output–specifically, its units
transfened to finished goods and its ending goods in process in\entory. {Round your intermediate
Totarl cost \$
t ‘,
V!E!-!r!!-dl
Hjorkshr-‘,rut .i;’.
4,
Exercise 1l);134 Equiualent unr’ts computed-FlFO L.O. C4
The production department in a process manufacturing system cornpleted 196,500 units of product and
frarrsfened them to finished goods during a rccent period. Of these units, 28,000 were in process at the
beginning oF the period. The other 168,500 units were started and (iompleted during the period. At period
end, 25,500 units were in process.
Compute the department’s equi\alent units of production with respecl: to direct materials under each of the
three separate assumptions using the FIFO method for process costing.
1. All dinslt materials are added to products when processing begins.
Total IEUP
2. Dircct traterials a€ added to poducts erenly throughout the process. Beginning goods in process
invenkrry was 45% comdete, and ending goods in process inr,ent

x\$gx’r im y*isn
Debit Credit
Factory payroll i-
2(g)PrepaLre joumal entry dated May 31 to record the other orerhei:rd costs. {Omit the “\$” sign in your
respc,n\$e.)
[]taLte
Mi;rr1 31
Detil,e
Malr 31
Dial.r:l
Mar’y |ll
Other accounts i .
response.)
Date General Joumal Debit Credit
Mary’,31 Goods in process inrentory i –
2(i) Prepare joumal entry dated May 31 to record the goods transfu’red fiom production to finished goods.
Goods in process inrentorv iv
2(i) Prepiar,cr joumal entry dated May 31 to record the sale of
respull”r**e.)
Dirle General Joumal
tr13’,1 1i3,1 Accounts r€cei\a:ble i-
Finished goods inrentorv i r
9.
Pr*blem f \$,i;i:,4 Part I
Required:
1(a) Detenrniine the equiwlent units of production with respect to direct larbor.
ezto.mhecl oud.mcg ra\ F hi I L r::omlhm.tpx
Wcrks*r*,e,it
{71/”tn-‘ ‘ ”
Problem 16-24 Cost per equiuatent unit; cosfs assrgned fo produc,s L.A. C2, C3
[The folowing inform ation applies to the guestbns disp I ayed b e low.]
Fairfax Company uses weighted-a\’eEge process costing to account for its production costs. Direct labor is
added er,enly throughout the process. Dircct materials are added at th,3 beginning of the process. During
September, the company transfened 785,000 units of product to finisherd goods, At the end of September,
the goods in process in\,entory consists of 179,000 units that are 50t/o complete with respect to labor.
Beginning inu?ntory had \$375,960 of direct materials and \$65,588 of din;ct labor cost. The direct labor cost
added in Seplember is \$1,246,162, and the direct materials cost added ir; \$2,5.16,040.
Section Breatk Prablern 16-24 Coe;l frer equivalent unit costs
assigned fo prodilct:; i-.O. C2, C3
6t11

313113 nrnent Print Mers
materials.{(b) the equiwlent units of production with respect to d
both the direct labor cost and the direct materials
to 2 decimal place- Omit the *\$* s\$gn in your re
Per equiulent
unit
\$; i
]x,s”4+-r#rF,@aF.,–*’.–.”*”,
: : . :’ . . -.: : : : .:.,,.\$,,i,,=tr,,,,,,,,,t,t,-::::::::=::j, :: :
Par{ 3
both direct labor cost and direct materials cost assig
und your per unit co* to I decimal places and
l
Cost transfened
out
aterials \$i
“”” “^**–*:
|p,”.,*”**’.*,’*.’.-‘.,*-*’.**;
abor \$i i
::::.:,:,…i..-:r.-.:::…::…, ..: -…:,,:.::’.-:::::-.::::l:i:-:.i:.-!!,1.’:11t..-.’-::
both direct labor cost and direct materials cost
{Round yoilr per unit cas*s ttr I decimal pla
ount,)
per equiralent unit. {Rcund your
.)
to units completed and transfened
I ansuvers ts the neares dollar
to ending goods in process
nd firtal ansfi.ersi to the nearest
jti’Ar-oe^
L;
1″.’.* i-. a t ;tg ? \$ Us rI f II At y ai-, { . ii:: f* }; ;;:- !+Lt lrtran-‘ v .
2A Part 2
out.
amo
rt. .::.-t…::..
3(b) Corn
doll
12
ProSIem
Easton
start of
Proeess
ezto.nfrecl otd.mcg r aN-
Costs of ending
go4_g_”in_Prq9_-esg_
\$i
“””””._____-:
: :’- l,L”’-‘.=”r -‘:::-:’:*:’i. ,
–rrd lnnlnllfil
us€ iil process
Process sosf surnmary; eg\$ir/Elenf unrfs l”O. C?,
its product through a single processing Dircct materials are added at the
, and direct labor and orrertread are added er,enly the process. The company
reporting periods for its nreighted-a\Erage process accounting system. lts Goods in
account bllours afi,er entries for dlrect materials, labor, and onerfiead co’sts br
7tll

313113
October,
Goods in Process lnrentory
Date Explanation
Oct. ‘1 Balance
31 Direct materials
31 Direct labor
Assig nnent Print View
Acct, 1,,,lo.133
Ba lance
276,296
379,296
802,286
1 051 ,296
Unit cr:st information
Direct lVraterials
EUP
EUP
‘ ,-.”.|1.,:
Dire
‘c1:
Materials
\$
\$
\$
EUP
per EUP
Debit Credit
103,000
423,000
249,A00
Its beginnjng goods in process consisted of \$43,030 of direct nraterials, \$79,920 of direct labor, and
\$153,336 of factory overhead. During October, the company started 144,000 units and transfened 151,000
units to finished goods. At the end of the month, the goods in procr:ss iruentory consisted of20,800 units
that were 80% complete with respect to direct labor and hctory o\eri€ad.
Required:
1’ Prepare the companys process cost summary for October using the weighted-alerage method. {Round
your {iost per EUP anslvers to 3 decimal places and c:onsider the same in the other
calculations. Round other ans,rrers to the nearest dollar iilnount Omit the “\$” dgn in your
reryonse.)
EASTON CO.
Process Cost Summary
For Month Ended October 31
Costs;
Costsi
Oharged to Production
l:eginning goods in processTotal
Costs
Total inauned this period
Totail r::;rlsts to account for
Units to account for
Units r;tarted this period ?
xF
TBeginniing goods in process
Total unrits to account for
Equiwlent units of production
Units r:ompleted & transfered out tr
Unitli r:f ending goods in process T
Equirreril,ent units of production
Cost per EUP
Cost r:if beginning goods in process f v
Costs incuned this period i –
Total c;osts
Equi’unlent units of production t?
Cost per EUP
Cost assignment and reconciliation
Units accounted for
Ending goods in process ,
t{
fCompleted & transferred out
Total units accounted for
EUP
EUP
EUP
Direct Labor
\$
\$
EUP
EUP
EUP
\$
\$
EUP
per EUP \$
EUP
per EUP
Costs; transfened out
Direl:lt materials i
!
:
I
I
I
]
T
ffi
!r
tl
rr
Direrrc,t[ labor
Total triarnsfered out
Costs; r:,f ending goods in process
ezto.mhecl oud. rncg raw hi ll l, rtomftrm.tpx 8t11

lllileet materials T
lltlrect labor I
313113 Assignnent Print Mew
Total ,ending goods in process
Tot,illl r:osts to account for
2- Preparc the joumal entry dated October 31 to transfer the cost of the completed units to fnished goods
Di’rl e,
Oct, \$1
Debit CreditGeneral Joumal
Finistred goods inwntory i-
Goods in process inlentory f r
Wnrksher:lt , -…, ;-‘
I “‘.-” .-.’,
Prcb feni’ ‘! t:’4{ Pracess casf sum ?n ary; eguiyafenf ^
. , :^,
unr’fs j-.C). rl::?. *3, F4
– -j ,
Problem 16-54 Process cost sumrnary, equiualent units, cosf esfr?r?ates L.O. C2, C3, P4
[The tDflowing information applies to fhe guesfibns displayed balowJ
Ogden Co. manufactures a single product in one department. All direct materials are added at the
beginning of the manufacturing process. Direct labor and olerhead are added e\,enly throughout the
process. The company uses monthly reporting periods for its weighterla\€rage plocess cost accounting.
During Oct,olcer, the company completed and transfened 23,200 units of product to finished goods
inrentory. fts 4, 100 units of beginning goods in process consisted of \$i10,0O0 ol direct materials, \$205,300
of direct labor, and \$98,840 of factory o\erhead. lt has 2,200 units (10t)o/o complete with respect to direct
materials anrl 80% complete with respect to direct labor and owrhe.:rd) in process at month-end. After
entries to record direct materials, direct labor, and olerhead for October; the company’s Goods in Process
lnentory account fullows.
Goods in Process ln\,entory Acct. Nc.133
Date Explanation Debit Credit Balanr:e
Oct. 1 Balance 32″1.,140
31 Direct materials 495,900 820,040
31 Direct labor 1,288,300 2,1011,340
Section Bre;aik.
units.coste\$trf/.atesL.a.c2,cG,p4 ,::,'”.’;’.:
‘4:::: :; ‘eirrrt – ‘e”^::’-‘.;’s”‘-‘
;;;J:-t.:lld.
‘:”:””” “-:;”-‘lartd
13. ‘-1
Prablem 16-5.4 Part 1
l. Prepare the company’s process cost summary for October using lhe weightedarerage method.{Round
your cost per EUP ans,yers to 2 decimal places and r::cnsider the same in the other
responsP.)
OGDEN CO.
Process Cost Summary
For Month Ended October 31
Costs Charged to Production
(s rll’beoinninq ooods in
Dirtmt materials T
Dittrr;t labor v
Total lleginning goods in process
Costs incuned this period
ezto. rnhecl oud. nrcg raur hi I I . c;om/hm. tpx st11

313113 Assig nnent Print View
“?” _” _
Unit cost information
D’inect labor i-
llriiitect materials i.r
Totarl incurred this period
Total costs to account for
Units to account for
Beglinning goods in process i v
Units; started this oeriod iT
Totarl units to account for
Equiwlent units of production
E,li
@r;
Equi’*alent units of production
rerg
f’trr
Total (]osts
Effi
Cost plerr EUP
Cost assignment and reconciliation
Costs; liransfened out
Dinmt labor –
DinN:;t materials v
Total r:nrding goods in process
Total ccmts to account for
Units accounted for
Completed & transfened out v
Endino qoods in process i v
Total units accounted for
Direct Materials
EUP
EUP
..””-:::”u:. ..”-”
Direct Itlaterials
\$
Direct Labor
EUP
EUP
“:::. “”
Direct Labor
\$
EUP
EUP
_::::
\$
\$ \$
EUP
\$ 0 per EUP
\$
14.
Date
Oct. 3;1
ezto. nhecl oud. mcg raw hi I I .r::rrn/hm.tpx
Worksh*et
Pr*bl*m f S-l54 Part 1
Frob{em 16-:5,i., Part 2
2. Prepare 1ll’re journal entry dated
inrentorlr {\$mlt the
October 31 to transfer the cost of completed units to finished goods
y*ur resp*ns*.)
General Journal Debit Credit
Total trernsfened out
Costs; r:f endin
10111

!t. #sx’*\$t the o*\$*n s*gffi irx ymu r respffiffis#.]

Direct
Materials
1 22,000
20:000
–::::::
Direct
Materials
\$ 35,000
873,900
Direct F:tactory
122,000 1,22,000
]orooo ]o’:oo
132,000 1 ,32,000
Direct l:iactory
\$ 1,600 {; 3,200
1041000 308,000
\$105,600 {,211,200
*qls* g*wr ffi{-\$F
ffi,e***nd qlth**n
RAMAN COMPANY
Process Cost Summary
For Month Ended May 31
to ProductionCosts Ch
,-t- L– -E r .
ezts.mhecl oud. ntcg raw hi ll I .com/hm,tpx
Total cori;1l,s to account for
Units to account for
Units s;tmfted this period +
nt
tinnin,* qoods in orocess
Total unil,s to account for
E,quiralent Units of Production (EUP)
Units c;ornpleted and transfened out T
l u”itr ,;; ii
Equivaft,:nirl, units of production
Cost per EUP
lc”rts ;;i,”i
f c”qL-_iil,
Total cosrt\$
lEqri*il1|
Cost peir lEiiUP
i:lg,800
1)rl15r8oo
.,^.’.:.”1.’?:::o:,
Unit co::,t information
135,00:|
7,00r.I
Units accounted for
Compteted & transfened out z r
Endina qoods in process i ”
1 22,000
20,000
Direct Materia s
Total units accounted for
Direct Material:rs
\$
\$
Cost assignment and reconciliation
per EUP
Direct Labor
per EUP per EUP
1t11

uosts relnfi’Tereo oul
Factory errre*r€?d f
Direct niaterials r
Direct latNrr !r
3lsl13 Assigrrrent PrintMew
Total trant’i’lbned out
Costs of endino ooods in orocess
(Click to s,elect) ?
Direct rnaterials ?
Total enrlinrg goods in process
Total costs; accounted for
Y\$:nrffi.
llllorkshr::r:r1l;
Fxercise :tti-f 5 Cornplefirig a prCIsess cssf s{Jrnff?ary
r.o. c3
Exercise ‘t6-4 Recording overhead casts L.O. P3
Prepare joumal entries to record the following production acti\,ities.
l. Paid civerhead costs (otherthan indirect materials and indirect labor) of \$23,000. {Omit the “\$” sign in
2.
General Joumal
trIII
tF
General Journal
EPl:r
ti
.;
Vierar-.flint #1
Worksh,Hret
Debit Credit
23,004
2. Used \$58,000 of direct laborin production. Applied o\erhead at ti5% of direct laborcosts. {Omitthe “\$”
Debit
49,300
23,000
Credit
49,300
.+w{- ‘i.-i’ –
3.
Exercise ’16-11A Costs assigned to output-FlFO L.O. C4, P4
During l\pril, the production department of a process manuhcturing system completed a number of units of
a produbt and transfened them to fnished goods. Of these tmnsfr;ned units, 59,000 were in process in the
production department at the beginning of April and 310,000 werc started and completed in Apdl. Apdl’s
beginning inrcntory units were 7oo/o comdete with respect to mal:erials and 30Yo complete with respect to
labor. At the end of Aptil, 87,000 additional units were in proces\$ in the production department and rvere
600/o complete with respect to materials and 600/o complete with rerspect to labor.
The production department had \$1,025,000 ofdirect materials an(l \$672,000 of direct labor cost charged to
it during April. Also, its beginning in\€ntory included \$121,840 of direct materials cost and S49,890 of direct
labor.
1. UsirigtheF|FOmethod,computethedirectmaterialscostandthedirectlaborcostperequiraalentunit
fcr the department. {Round your ans!\rers to 2 decimal places, Omit the “\$” dgn in your
reqionse.)
Direct Materials Direct Labor
Cost per equiralent unit \$ EUP \$ EUP
ezto.nfecloud.nrcg ravr hi ll.corn/hrntpx
Lx
2111

Y313 Assignnent PrintMarrr
2. Using the FIFO method, assign April’s costs to the depall.ment’s output–specifically, its units
transfened to finished goods and its ending goods in process in\entory. {Round your intermediate
Totarl cost \$
t ‘,
V!E!-!r!!-dl
Hjorkshr-‘,rut .i;’.
4,
Exercise 1l);134 Equiualent unr’ts computed-FlFO L.O. C4
The production department in a process manufacturing system cornpleted 196,500 units of product and
frarrsfened them to finished goods during a rccent period. Of these units, 28,000 were in process at the
beginning oF the period. The other 168,500 units were started and (iompleted during the period. At period
end, 25,500 units were in process.
Compute the department’s equi\alent units of production with respecl: to direct materials under each of the
three separate assumptions using the FIFO method for process costing.
1. All dinslt materials are added to products when processing begins.
Total IEUP
2. Dircct traterials a€ added to poducts erenly throughout the process. Beginning goods in process
invenkrry was 45% comdete, and ending goods in process inr,ent