4-43 - HOME GARDEN COMPANY, INC. Production Reports:...

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Unformatted text preview: HOME GARDEN COMPANY, INC. Production Reports: Grading Department Weighted-Average Method Percentage of Completion with Respect to Conversion Physical Units Work in process, September 1 Units started during September Total units to account for 36000 0 36000 Conversion 0 36000 36000 Units completed and transferred out during Sept. Work in process, September 30 Total units accounted for Total equivalent units Equivalent Units Direct Material Work in process, September 1 Costs incurred during September Total costs to account for Conversion 36000 0 36000 0 36000 Direct Material 1 36000 Total 0 265680 265680 0 352080 352080 36000 7.38 Equivalent units Costs per equivalent unit 0 86400 86400 36000 2.4 9.78 Cost of goods completed and transferred out of the Grading Department: Units transferred out 36000 Total cost per equivalent unit 9.78 352080 Cost remaining in September 30 work-in-process inventory in the Grading Department: 0 Check: Cost of goods completed and transferred out Cost of September 30 work-in-process inventory Total costs accounted for 352080 0 352080 HOME GARDEN COMPANY, INC. Production Reports: Saturating Department Weighted-Average Method Percentage of Completion with Respect to Conversion Physical Units Equivalent Units Direct Material Work in process, September 1 Units transferred during September Total units to account for 1600 36000 37600 Units completed and transferred out during Sept. Work in process, September 30 Total units accounted for Total equivalent units 35600 2000 37600 1 0.5 Conversion 0.5 Work in process, September 1 Costs incurred during September Total costs to account for Equivalent units Costs per equivalent unit Conversion 35600 1000 37600 Transferred In 35600 2000 36600 Total 13850 352080 365930 3750 85920 89670 17600 438000 455600 37600 9.7321808511 36600 2.45 12.1821808511 Cost of goods completed and transferred out of the Saturating Department: Units transferred out 35600 Total cost per equivalent unit 12.1821808511 433685.638297872 Cost remaining in September 30 work-in-process inventory in the Saturating Department: Transferred-in costs: Equivalent units of transferred-in cost 2000 Transferred-in cost per equivalent unit 9.7321808511 Direct material: Conversion: Equivalent units of conversion Conversion cost per equivalent unit Total cost of September 30 work in process Check: Cost of goods completed and transferred out Cost of September 30 work-in-process inventory Total costs accounted for 19464.3617021277 0 1000 2.45 2450 21914.3617021277 433685.638297872 21914.3617021277 455600 1. Physical flow of units: Physical Units Work in process, 1/1/x1 200000 Units started1000000 during 20x1 Total units to account for 1200000 Units completed and transferred out during 20x1 900000 Work in process, 12/31/x1 300000 Total units accounted for 1200000 2. Equivalent units: Physical Units Work in process, 1/1/x1 200000 Units started1000000 during 20x1 Total units to account for 1200000 Percentage of Completion with Respect to Conversion 0.8 Units completed and transferred out during 20x1 900000 1 Work in process, 12/31/x1 300000 0.5 Total units accounted for 1200000 Total equivalent units 3. Costs per equivalent unit: Direct Material Work in process, 1/1/x1 200000 Units started1300000 during 20x1 Total costs to account for 1500000 Equivalent units 1200000 Costs per equivalent unit 1.25 Conversion 504000 3192000 3696000 1050000 3.52 Equivalent Units Direct Material Conversion 900000 300000 900000 150000 1200000 1050000 Total 704000 4492000 5196000 4. Cost of ending inventories: Cost of goods completed and transferred out: Units transferred out 900000 Total cost per equivalent unit 4.77 4293000 Cost remaining in 12/31/x1 work-in-process inventory: Direct material: # of equivalent units of direct material 300000 Cost per equivalent unit of direct material 1.25 375000 Conversion: # of equivalent units of conversion 150000 Cost per equivalent unit of conversion 3.52 528000 Cost of 12/31/x1 work-in-process 903000 Check: Cost of goods completed and transferred out 4293000 Cost of 12/31/x1 work-in-process inventory 903000 Total costs accounted for 5196000 Ending finished-goods inventory: Units completed during 20x1 900000 Units remaining in finished-goods inventory, 12/31/x1 200000 Cost of goods completed and transferred out 4293000 Cost of 12/31/x1 finished-goods954000 inventory 4.77 DATA INPUT Moravia Company Work in process, units:1 10000 April Direct material:1 complete, cost of 22000 Conversion: 0.2 complete, cost of 4500 Balance in work in process, April 1 26500 Units started during April 100000 Units completed during April 80000 and transferred to finished-goods inventory Work in process, April 30: Direct material:1 complete Conversion: 0.33333 complete Costs incurred during April: Direct material 198000 Conversion costs: Direct labor 52800 Applied manufacturing overhead 105600 Total conversion costs 158400 SOLUTION 1. Physical flow of units Physical Units Work in process, April 1 10000 Units started during April 100000 Total units to account for 110000 Units complete and transferred out during April 80000 Work in process, April 30 30000 Total units accounted for 110000 2. Calculation of equivalent units Percentage Equivalent Units Physical Units of Completion Material Direct Conversion Work in process, April 0.2 10000 1 Units started during April 100000 Total units to account for 110000 Units completed and transferred out during April 80000 1 80000 80000 Work in process, April 30 30000 0.33333 30000 10000 Total units accounted for 110000 Total equivalent units 110000 90000 3. Computation of unit costs Direct Material Conversion Total Work in process, April 1 22000 4500 26500 Costs incurred during April 158400 356400 198000 Total costs to account for 162900 382900 220000 Equivalent units 110000 90000 Costs per equivalent unit 2 1.81 3.81 4. Analysis of total costs Costs of goods completed and transferred out during April: 304800 Cost remaining in April 30 work-in-process inventory: Direct material: 60000 Conversion:18100 Total cost of April 30 work-in-process 78100 Check: Cost of goods completed and transferred out 304800 Cost of April 30 work-in-process inventory 78100 Total costs accounted for 382900 ...
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