ch 2 cost acct. excel templ
TRANSCRIPT
Name:Section:
When subtotals and totals are correct the cell will turn to green.
Exercise 2-2
a. EOQ = square root of (2CN/K)C=N=K=EOQ = units
b. Number of orders = Annual usage/EOQ ordersAnnual usage =EOQ =
Ordering cost:Carrying cost:Total order and carrying cost
Name:Section:
When entries in amount columns are correct the cell will turn to green.
Exercise 2-6
First-in, First-out methodRECEIVED ISSUED BALANCE
Date Quantity Unit Price Amount Quantity Unit Price Amount Quantity Unit Price Amount7/17/37/5
7/6
7/10
7/11
7/15
7/20
7/26
Cost of materials used (issued):Cost of 7/31 inventory:
Name:Section:
Problem 2-1
When calculations/numbers are correct the cell will change to green.
1 Compute the order point.Units per day =Days =Safety Stock =Order Point = units
2 Determine the most economical oder quantity by use of formulaEOQ = square root of (2CN/K)
C=N=K=EOQ = units
3 Calculate the toatol cost of ordering and carrying at EOQAnnual usage = unitsUnits per order = unitsNumber of orders = ordersOrdering cost = $Safety stock = unitsAve. no. of units in inventory = unitsCarrying cost per unit = $Carrying cost = $Total cost = $
Name:Section:
Problem 2-2
When amounts entered into the cells are correct the cell will change to green.
Order Size300400500600700800
20,000 = gallons of material annually$20 = cost of placing an order
$5 = carrying cost per unit
EOQ =
Number of Orders
Total Order Cost
Average Inventory
Total Carrying Cost
Total Ordering &
Carrying Cost
Name:Section:
Problem 2-4When entries in amount columns are correct the cell will turn to green.
1.a. FIFO costing
MATERIALS LEDGERMaterials Ledger
RECEIVED ISSUED BALANCE
Date Quantity Unit Price Amount Quantity Unit Price Amount Quantity Unit Price Amount11/111/4
11/511/8
11/15
11/22
11/28
Description: Rubber gaskets Account No. 11,216
Rec. Rep.No.
Mat. Req. No.
Name:Section:
Problem 2-4When entries in amount columns are correct the cell will turn to green.
1.b. LIFO costing
MATERIALS LEDGERMaterials Ledger
RECEIVED ISSUED BALANCE
Date Quantity Unit Price Amount Quantity Unit Price Amount Quantity Unit Price Amount11/111/4
11/5
11/8
11/15
11/22
11/28
Description: Rubber gaskets Account No. 11,216
Rec. Rep.No.
Mat. Req. No.
Name:Section:
Problem 2-4When entries in amount columns are correct the cell will turn to green.
1.c. Moving Average costing
MATERIALS LEDGERMaterials Ledger
RECEIVED ISSUED BALANCE
Date Quantity Unit Price Amount Quantity Unit Price Amount Quantity Unit Price Amount11/111/411/511/8
11/1511/2211/28
2. Inventory comparisonsCost Transferred Cost of Ending
Inventory Method to Work in Process InventoryFIFOLIFOMoving average
Description: Rubber gaskets Account No. 11,216
Rec. Rep.No.
Mat. Req. No.
Name:Section:
Problem 2-4When entries in amount columns are correct the cell will turn to green.3
4
Name:Section:
Problem 2-5When entries in amount columns are correct the cell will turn to green.
1 FIFO costing
MATERIALS LEDGERMaterials Ledger
RECEIVED ISSUED BALANCE
Date Quantity Unit Price Amount Quantity Unit Price Amount Quantity Unit Price Amount2/1 1,200 2.7600 3,312.002/5
2/112/14
2/15
2/16
2/18
2/21
Description: Plastic tubing (ft.) Account No. 906
Rec. Rep.No.
Mat. Req. No.
Name:Section:
Problem 2-5When entries in amount columns are correct the cell will turn to green.
2 LIFO costing
MATERIALS LEDGERMaterials Ledger
RECEIVED ISSUED BALANCE
Date Quantity Unit Price Amount Quantity Unit Price Amount Quantity Unit Price Amount2/1 1,200 2.7600 3,312.002/5
2/112/14
2/15
2/16
2/18
2/21
Description: Plastic tubing (ft.) Account No. 906
Rec. Rep.No.
Mat. Req. No.
Name:Section:
Problem 2-5When entries in amount columns are correct the cell will turn to green.
3 Moving Average costing
MATERIALS LEDGERMaterials Ledger
RECEIVED ISSUED BALANCE
Date Quantity Unit Price Amount Quantity Unit Price Amount Quantity Unit Price Amount2/1 1,200 2.7600 3,312.002/5
2/112/142/152/162/182/21
Description: Plastic tubing (ft.) Account No. 906
Rec. Rep.No.
Mat. Req. No.