Chap 3

SOLUTIONS TO PROBLEMS
PROBLEM 3-1A
1.
2.
3.
4.
5.
6.
7.
8.
9.
Raw Materials Inventory ..................................

Accounts Payable .....................................
300,000
Work in ProcessMixing ................................

Work in ProcessPackaging ..........................
Raw Materials Inventory ...........................
210,000
45,000
Factory Labor ...................................................

Wages Payable..........................................
258,900
Work in ProcessMixing ................................

Factory Labor ............................................
182,500
76,400
Manufacturing Overhead .................................

Accounts Payable .....................................
810,000
Work in ProcessMixing (28,000 X $24) ........

Work in ProcessPackaging
(6,000 X $24) .................................................
Manufacturing Overhead..........................
672,000
300,000
255,000
258,900
258,900
810,000
144,000
816,000

Work in ProcessMixing .........................
979,000
Finished Goods Inventory ...............................

Work in ProcessPackaging ..................
1,315,000
Accounts Receivable .......................................

Sales Revenue ..........................................
2,500,000
Cost of Goods Sold ..........................................

Finished Goods Inventory ........................
1,604,000
979,000
1,315,000
2,500,000
1,604,000
PROBLEM 3-2A
(a) Physical units

Units to be accounted for
Work in process, June 1
Started into production
Total units
Units accounted for
Transferred out
Total units
0
22,000
22,000
20,000
2,000
22,000
(b) Equivalent units

Units transferred out
2,000 X 100%
2,000 X 40%
Total equivalent units
(c)
Materials
Conversion costs
Total unit cost
Materials
20,000
Conversion Costs
20,000
2,000
800
20,800
22,000
Unit Costs
$9.00 ($198,000 22,000)
$8.00 ($166,400* 20,800)
$17.00 ($9.00 + $8.00)
*$53,600 + $112,800
(d) Costs accounted for
Transferred out (20,000 X $17.00)
Materials (2,000 X $9.00)
Conversion costs (800 X $8.00)
Total costs
$340,000
$18,000
6,400
24,400
$364,400
PROBLEM 3-2A (Continued)

(e)
ROSENTHAL COMPANY
Molding Department
Production Cost Report
For the Month Ended June 30, 2014
Quantities
Physical
Units
Equivalent Units
Conversion
Materials
Costs
(Step 1)
(Step 2)

Total units
0
22,000
22,000
Units accounted for

Transferred out
Total units
20,000
2,000
22,000
Costs
Unit costs (Step 3)
Total cost
Equivalent units
Unit costs (a) (b)
20,000
2,000
22,000
Materials
(a) $198,000
(b)
22,000
$9.00
20,000
800 (2,000 X 40%)
20,800
Conversion
Costs
$166,400
20,800
$8.00
Costs to be accounted for

Total costs
Total
$364,400
$17.00
$
0
364,400
$364,400
Cost Reconciliation Schedule (Step 4)

Costs accounted for
Materials (2,000 X $9.00)
Conversion costs (800 X $8.00)
Total costs
$340,000
$18,000
6,400
24,400
$364,400
PROBLEM 3-3A
(a) (1) Physical units

T12
Tables
C10
Chairs

Work in process, July 1
Total units
0
19,000
19,000
0
16,000
16,000
Units accounted for

Transferred out
Total units
16,000
3,000
19,000
15,500
500
16,000
(2) Equivalent units

(3,000 X 100%)
(3,000 X 60%)

(500 X 100%)
(500 X 80%)
T12 Tables
Conversion
Materials
Costs
16,000
16,000
3,000
19,000
1,800
17,800
C10 Chairs
Conversion
Materials
Costs
15,500
15,500
500
16,000
400
15,900

(3) Unit costs
Materials ($380,000 19,000)

($288,000 16,000)
Conversion costs ($338,200(a) 17,800)
($206,700(b) 15,900)
Total
(a)
C10
Chairs
$18
19
$39
13
$31
$234,200 + $104,000
(b)
(4)
T12
Tables
$20
$110,000 + $96,700
T12 Tables
Costs accounted for
Transferred out (16,000 X $39)
Work in process
Materials (3,000 X $20)
Conversion costs (1,800 X $19)
Total costs
$624,000
$60,000
34,200
94,200
$718,200
C10 Chairs
Costs accounted for
Work in process
Materials (500 X $18)
Conversion costs (400 X $13)
Total costs
$480,500
$9,000
5,200
14,200
$494,700

(b)
SEAGREN INDUSTRIES INC.

Cutting DepartmentPlant 1
For the Month Ended July 31, 2014
Quantities
Physical
Units
Equivalent Units
Conversion
Materials
Costs
(Step 1)
(Step 2)

Total units
0
19,000
19,000
Units accounted for

Transferred out
Total units
16,000
3,000
19,000
Costs
Unit costs (Step 3)
Total cost
Equivalent units
Unit costs (a) (b)
16,000
3,000
19,000
Materials
(a) $380,000
(b)
19,000
$
20
16,000
1,800 (3,000 X 60%)
17,800
Conversion
Costs
$338,200
17,800
$
19

Total costs
Total
$718,200
$
39
0
718,200
$718,200

Costs accounted for
Materials (3,000 X $20)
Conversion costs (1,800 X $19)
Total costs
$624,400
$60,000
34,200
94,200
$718,200
PROBLEM 3-4A
(a)
Physical
Units
Work in process, November 1
Total units
35,000
660,000
695,000
Units accounted for

Transferred out
Total units
670,000
25,000
695,000
Equivalent Units
Conversion
Materials
Costs
670,000
25,000
695,000
670,000
10,000*
680,000
*25,000 X 40%
Materials cost
Beginning work in
process
Added during month
Total
Equivalent units
Cost per unit
Conversion costs
79,000
1,589,000
$1,668,000
$ 48,150
563,850
$612,000
695,000
680,000
$2.40
$.90
($225,920 + $337,930)
(b) Costs accounted for

Materials (25,000 X $2.40)
Conversion costs (10,000 X $.90)
Total costs
$2,211,000
$60,000
9,000
69,000
$2,280,000

(c)
RIVERA COMPANY
Assembly Department
For the Month Ended November 30, 2014
Quantities
Physical
Units
Equivalent Units
Conversion
Materials
Costs
(Step 1)
(Step 2)

Total units
35,000
660,000
695,000
Units accounted for

Transferred out
Total units
670,000
25,000
695,000
Costs
Unit costs (Step 3)
Total cost
Equivalent units
Unit costs (a) (b)
670,000
25,000
695,000
Materials
(a) $1,668,000
(b)
695,000
$2.40
670,000
10,000 (25,000 X 40%)
680,000
Conversion
Costs
$612,000
680,000
$.90

Total costs
Total
$2,280,000
$3.30
$ 127,150
2,152,850
$2,280,000

Costs accounted for
Materials (25,000 X $2.40)
Conversion costs
(10,000 X $.90)
Total costs
$2,211,000
$60,000
9,000
69,000
$2,280,000

Chap 3

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Chap 3

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SOLUTIONS TO PROBLEMS

Raw Materials Inventory ..................................

Work in ProcessMixing ................................

Factory Labor ...................................................

Work in ProcessMixing ................................

Manufacturing Overhead .................................

Work in ProcessMixing (28,000 X $24) ........

Work in ProcessPackaging ..........................

Finished Goods Inventory ...............................

Accounts Receivable .......................................

Cost of Goods Sold ..........................................

(a) Physical units

(b) Equivalent units

PROBLEM 3-2A (Continued)

Units to be accounted for

Units accounted for

Costs to be accounted for

Cost Reconciliation Schedule (Step 4)

(a) (1) Physical units

Units to be accounted for

Units accounted for

(2) Equivalent units

Units transferred out

Units transferred out

PROBLEM 3-3A (Continued)

Materials ($380,000 19,000)

PROBLEM 3-3A (Continued)

SEAGREN INDUSTRIES INC.

Units to be accounted for

Units accounted for

Costs to be accounted for

Cost Reconciliation Schedule (Step 4)

Units accounted for

(b) Costs accounted for

PROBLEM 3-4A (Continued)

Units to be accounted for

Units accounted for

Costs to be accounted for

Cost Reconciliation Schedule (Step 4)

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