cost august
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CostTRANSCRIPT
Carlson Chemical CompanyCost of Production Report-Blending
Production Data Equivalent Units of Production
Whole Units Transferred in Materials Conversion WIP - BI 2,000 Transferred from Mixing 4,000 Added in Blending dept. 12,000 UTAF 18,000
WIP,BI 2,000 Started & Completed 12,000 Transferred Out 14,000 14,000 14,000 14,000 WIP-End 4,000 4,000 4,000 1,600 UAF 18,000 18,000 18,000 15,600
Cost Data Total Amount Transferred in Materials Conversion WIP-BI 6,270 2,300 720 3,250 Current Period 22,170 11,200 2,520 8,450 CTAF 28,440 13,500 3,240 11,700 divided by EUP 18,000 18,000 15,600 Cost per EUP 1.68 0.75 0.18 0.75
Cost AssignmentTransferred-Out 23,520 WIP-End
Transferred in 3,000 Materials 720 Conversion 1,200
4,920 CAF 28,440
SAMSUNG CO. journal entries Cost of Production Report-Dept. A
WIP-A Production Data RMI
Equivalent Units of Production Wages Payable Whole Units Materials Conversion FOHC
WIP - BI 16,000 Started in Process 38,000 WIP_B UTAF 54,000 WIP-A
WIP,BI 16,000 Abnormal Loss Started & Completed 22,000 WIP-A Transferred Out 38,000 38,000 38,000 WIP-End 14,500 14,500 8,700 Normal Lost 1,000 1,000 1,000 Abnormal Lost 500 500 500 UAF 54,000 54,000 48,200
Cost Data Total Amount Materials Conversion WIP-BI 20,950 10,740 10,210 Current Period 42,780 21,660 21,120 CTAF 63,730 32,400 31,330 Q divided by EUP 54,000 48,200 COST OF NL Cost per EUP 1.25 0.60 0.65 RECOGNIZED AS NL
NL / UNIT Cost Assignment PERIOD COST Transferred-Out PRODUCT COST Good Units 47,500 Normal Loss 1,250
48,750 WIP-End Materials 8,700 Conversion 5,655
14,355
Abnormal Loss 625 CAF 63,730
dr cr 42,780
21,660 12,760 8,360
48,750 48,750
625 625
A 1,250 - 0.03 625 63,105
SAMSUNG CO. - method of neglect journal entries Cost of Production Report-Dept. A
WIP-A Production Data
Equivalent Units of Production Whole Units Materials Conversion
WIP - BI 14,000 Started in Process 40,000 WIP_B UTAF 54,000
WIP,BI 14,000 Abnormal Loss Started & Completed 24,000 Transferred Out 38,000 38,000 38,000 WIP-End 14,500 14,500 8,700 Normal Loss 1,000 Abnormal Loss 500 500 500 UAF 54,000 53,000 47,200
Cost Data Total Amount Materials Conversion WIP-BI 20,950 10,740 10,210 Current Period 42,780 21,660 21,120 CTAF 63,730 32,400 31,330 divided by EUP 53,000 47,200 Cost per EUP 1.28 0.61 0.66
Cost AssignmentTransferred-Out 48,453 WIP-End Materials 8,864 Conversion 5,775
14,639 Abnormal Loss 638 CAF 63,730 63,092
journal entries dr cr
42,780 RMI 21,660 Wages Payable 12,760 FOHC 8,360
48,453 WIP-A 48,453
Abnormal Loss 638 WIP-A 638
SAMSUNG CO. journal entries Cost of Production Report-Dept. A
WIP-A Production Data
Equivalent Units of Production Whole Units Materials Conversion
WIP - BI 14,000 Started in Process 40,000 WIP-B UTAF 54,000
WIP,BI 14,000 8,400 Abnormal Loss Started & Completed 24,000 24,000 24,000 Transferred Out 38,000 WIP-End 14,500 14,500 8,700 Normal Lost 1,000 Abnormal Lost 500 500 500 UAF 54,000 39,000 41,600
Cost Data Total Amount Materials Conversion WIP-BI 20,950 Current Period 42,780 21,660 21,120 CTAF 63,730 21,660 21,120 divided by EUP 39,000 41,600 Cost per EUP 1.06 0.56 0.51
Cost AssignmentTransferred-Out WIP BIC
20,950 4,265
25,215 Started and Completed 25,514 Total cost transferred out 50,728 WIP-End Materials 8,053 Conversion 4,417
12,470 Abnormal Loss 532 CAF 63,730
previous cost to complete
journal entries dr cr
42,780 RMI 21,660 Wages Payable 12,760 FOHC 8,360
50,728 WIP-A 50,728
Abnormal Loss 532 WIP-A 532