Process Costing - Chp 5 - RM 200,000 6,000 Dr 194,000 BB DM...

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
RM 200,000 6,000 Dr Cr <1> 194,000 Shaping Insertion WIP - Shaping (dm) 6,000 BB 4,800 BB Raw Materials 6,000 Mfg Wages DM 6,000 DM CC 32,400 CC <2> 21,250 21,250 TI 38,400 WIP - Shaping (cc) 32,400 38,400 TO Mfg Wages 21,250 4,800 38,400 Mfg Overhead 11,150 <3> Mfg Overhead WIP - Insertion 38,400 WIP - Shaping 38,400 12,000 11,150 $ = Unit Cost Quantity <4> Cost of Goods Sold 850 43,200 2.16 (Assumed no variance in cost flow…. .) Mfg OH - Shaping 850 850 20,000 (With different assumptions, one formula 850 will not work. See next Tab) 0 Ending Balance = zeor after close out FACTS Informatin About Units 200 units Beginning work in process, May 1 1800 units Started in production during May 16000 units Completed and transferred to Finishing Department during May Ending work in process, May 31 (25% competed as to direct materials, 55% completed as to conversion cost) 4000 units Information about Costs Beginning work in process, May 1 (consists of $800 of direct materials cost and $4,00 of conversion costs) $4,800 Direc materials used in May $6,000 Conversion costs incurred in May $32,400
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
SHAPPING DEPARTMENT Total Units Shaping Department Beginning Balance 2,000 (Quantity Analysis)
Background image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

Page1 / 3

Process Costing - Chp 5 - RM 200,000 6,000 Dr 194,000 BB DM...

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online