In-class exercises

# In-class exercises - EXERCISE 2 PG 279-280 Beginning...

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EXERCISE 2 PG 279-280 Beginning Work-in-Process 32,000 kgs Started 800,000 kgs Transferred to Finished Goods 808,000 kgs Step 1. Calculate the total units to account for Units in Beginning WIP Inventory 32,000 kgs Units started during the current period 800,000 kgs Units to account for 832,000 kgs Step 2. Calculate the total units accounted for Units completed and transferred out 808,000 kgs Units in ending WIP inventory 24,000 kgs Units accounted for 832,000 kgs Step 3. Determine the equivalent units of production CC Completion Material Conversion Completed and transferred out 808,000 808,000 kgs EWIP 35% 24,000 8,400 kgs 832,000 816,400 kgs Equivalent units of production

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CHAPTER 5 PROBLEM 2 pg 285 Creative Cake Bakery Ltd. all ingredients added at beginning of production icing is added when cake is 85% complete Beginning WIP April 1st 20 cakes 80% complete Started during April 430 cakes Completed during April 440 cakes Ending WIP inventory 90% complete Ingredients Icing Conversion Costs Beginning WIP \$66.10 \$- \$40.66 Incurred this month \$1,324.40 \$166.50 \$857.34 Weighted Average Method Step 1. Total units to account for Units in Beginning WIP Inventory 20 cakes Units started during the current period 430 cakes Units to account for 450 cakes Step 2. Total units accounted for Units completed and transferred out 440 cakes Units in ending WIP inventory 10 cakes Units accounted for 450 cakes Step 3. Determine the equivalent units of production CC Completion Ingredients Icing Conversion Completed 440 440 440 EWIP 90% 10 10 9 450 450 449 Step 4. Total cost to account for Ingredients Icing Conversion Total Beginning WIP
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In-class exercises - EXERCISE 2 PG 279-280 Beginning...

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