 |
Question-ACN |
Flora Computers
Production
Department
Cost
of Production Report
Quantity
Scheduled
|
Amount
|
Amount
|
Unites started in process
Unites transferred to next
department
Unites still in process
Unites lost in process
|
45,000/=
4,000/=
1,000/=
|
50,000/=
=======
|
Total
|
50,000/=
=======
|
|
Cost charged
to the department
|
Total Cost
|
Unit cost
|
Cost added
by department:
Materials
Labor
Factory overhead
|
24,500/=
30,000/=
2550/=
|
0.50
0.638
0.542
|
Cost to be
accounted for
|
80,000/=
=======
|
1.68
=====
|
Cost Accounted
for as follows
|
Amount
|
Amount
|
Transferred to next department (45,000×1.68)
Work in
process-Ending inventory:
Materials (4,000×0.5)
Labor (4,000×1/2×0.638)
Factory overhead
(4,000×1/2×0.542)
|
2,000/=
1,276/=
1,084/=
|
75,600/=
4360/=
|
Total
|
79,960/=
======
|
|
Flora Computers
Tasting
Department
Cost of Production Report
Quantity
Scheduled
|
Amount
|
Amount
|
Unites received from preceding
department
Unites transferred to next department
Unites still in process
Unites lost in process
|
40,000/=
3,000/=
2,000/=
|
45,000/=
=======
|
Total
|
45,000/=
=======
|
|
Cost charged
to the department
|
Total Cost
|
Unit cost
|
Transferred in during the month(45,000)
Materials
Labor
Factory overhead
|
75,600/=
15,500/=
37,000/=
30,500/=
|
1.68
0.36
0.902
0.743
|
Total
cost added
Adjustment from lost unit
|
83,000/=
------------
|
2.105
0.078
|
Total cost
to be accounted for
|
1,58,600/=
========
|
3.763
=====
|
Cost
Accounted for as follows
|
Amount
|
Amount
|
Transferred to next department
(40,000×3.763)
Work
in process-Ending inventory:
Materials (3,000×0.36)
Labor (3,000×1/3×0.902)
Factory overhead (3,000×1/3×0.743)
Adjusted
cost from preceding department-
[3,000×(1.68+0.078)]
|
1,080/=
902/=
743/=
5,274/=
|
1,50,520/=
7,999/=
|
Total
|
1,58,519/=
========
|
|
Flora Computers
Terminal
Department
Cost of Production Report
Quantity
Scheduled
|
Amount
|
Amount
|
Unites received from preceding
department
Unites transferred to next department
Unites still in process
Unites lost in process
|
35,000/=
4,000/=
1,000/=
|
40,000/=
=======
|
Total
|
40,000/=
=======
|
|
Cost charged
to the department
|
Total Cost
|
Unit cost
|
Cost from
preceding department:
Transferred in during the month(40,000 unites)
Materials
Labor
Factory overhead
|
1,50,520/=
=========
10,000/=
32,500/=
20,000/=
|
3.763
=====
0.256
0.902
0.555
|
Total
cost added
Adjustment from lost unit
|
62,500/=
------------
|
1.713
0.096
|
Total cost
to be accounted for
|
2,13,020/=
========
|
5.572
=====
|
Cost
Accounted for as follows
|
Amount
|
Amount
|
Transferred to finished goods storeroom
(35,000×5.572)
Work
in process-Ending inventory:
Adjusted
cost from preceding department-
[4,000×(3.763+0.096)]
Materials (4,000×0.256)
Labor (4,000×1/4×0.902)
Factory overhead (4,000×1/4×0.555)
|
15,436/=
1,024/=
902/=
555/=
-------------
|
1,95,020/=
17,917/=
|
Total
|
2,12,937/=
========
|
|
Journal
(1)
Transaction
|
Dr
|
Cr.
|
Work
in process production Department
Work
in process testing Department
Work
in process terminal Department
Materials
(To
closed materials used in production)
|
24,500/=
15,500/=
10,000/=
|
50,000/=
|
Work
in process production Department
Work
in process testing Department
Work
in process terminal Department Labor
(To
closed labor used in production )
|
30,000/=
37,000/=
32,500/=
|
99,500/=
|
Work
in process production Department
Work
in process testing Department
Work
in process terminal Department
Factory
overhead
(To
closed factory overhead used in production)
|
25,500/=
30,500/=
20,000/=
|
76,000/=
|
(2)
Transaction
|
Dr
|
Cr.
|
Work
in process testing department
Work
in process production department
(To
transferred cost of production Department to testing Department)
|
75,600/=
|
75,600/=
|
Work
in process terminal Department
Work
in process testing Department
(To
transferred cost of testing Department to terminal Department)
|
1,50,520/=
|
1,50,520/=
|
Finished
goods inventory
Work
in process terminal Department
(To
transferred cost of terminal Department to finished goods inventory)
|
1,95,020/=
|
1,95,020/=
|
