DirectDirect materialsmaterials

Work in Process Work in Process AccountAccount

Work in Process Work in Process AccountAccount

Factory Factory OverheadOverhead

Direct Direct LaborLabor

to Finished to Finished GoodsGoods

to Finished to Finished GoodsGoods

Factory Factory OverheadOverhead

Direct Direct LaborLabor

Quantity schedule :Units transferred from previous dep.Units completed.WIP units.Units lost or added.

Cost schedule :Cost of Material.Cost of labor.Cost of FOH.

Equivalent production cost:

In it we calculate the Conversion cost.

Cost accounted as follows:In it we calculate cost of completed units and cost

of units in process.