Acct3333 ProcCost examFIFO with spoilage

Acct3333 ProcCost examFIFO with spoilage - $675 $67,702...

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Sheet1 Page 1 Class Example – Process Costing with Spoilage Toddler Toys Example FIFO method Step 1: Physical Reconciliation Step 2: E.U. C Beginning inventory 2,000 units Transferred in 18,000 To account for 20,000 units Trans out Accounted for: From BI Transferred out 16,000 units Spoilage: Normal 160 Normal spoilag Spoilage: Abnormal 640 Abnormal spoi Ending inventory 3,200 EI Units accounted for 20,000 units E.Units Step 3: Costs added Added $70,000 $70,000 Step 4: Unit cost $4.2162 Step 5: Costs accounted for Total Transferred out 16,000 units Costs from Beginning inventory $7,600 To complete beginning inventory Transferred In $0 Material component $0 Conversion costs $400 $8,000 Started and completed 14,000 $59,027 Normal spoilage
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Unformatted text preview: $675 $67,702 Abnormal spoilage $2,698 Ending inventory Transferred in 3200 E.U.s $6,400 Materials 0 E.U.s $0 Conversion costs 800 E.U.s $800 Total ending inventory $7,200 Total costs accounted for $77,600 Sheet1 Page 2 Calculation T.I. Mat CC 16,000 16,000 16,000-2,000-2,000-1,600 14,000 14,000 14,400 ge 160 160 160 ilage 640 640 640 3,200 800 18,000 14,800 16,000 $36,000 18000 16000 $36,000 $18,000 $16,000 $2.00 $1.2162 $1.00 T.I. Mat CC $4,000 $2,000 $1,600 $0 $0 $400 $4,000 $2,000 $2,000 $28,000 $17,027 $14,000 $320 $195 $160 $32,320 $19,222 $16,160 $1,280 $778 $640 $6,400 $0 $800 $6,400 $0 $800 $40,000 $20,000 $17,600...
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This note was uploaded on 01/14/2011 for the course ACCT 3333 taught by Professor J.d during the Spring '08 term at Saint Mary's University Texas.

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Acct3333 ProcCost examFIFO with spoilage - $675 $67,702...

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