Process Costing - FIFO (Multiple Choice)

1A 11 A 21 D
2D 12 B 22 C
3D 13 B 23 C
4D 14 A 24 B
5A 15 B 25 B
6D 16 A 26 D
7B 17 A 27 B
8C 18 C 28 B
9C 19 B
10 C 20 A

Supporting solutions:
Actual Units Materials Conversion Costs
9 BWIP, Fin & Tans 4000 0 1200
Started/Trans in, Fin. & Transferred 12000 12000 12000
EWIP 6000 6000 2400
Total 22000 18000 15600

10 Quantity Schedule Actual Units Cardboard Conversion Costs

BWIP, fin& trans 800 480 400
Started/Trans in, Fin. & Transferred 2200 2200 2200
EWIP 300 90 120
Total 3300 2770 2720

Actual Units Materials Conversion Costs

11 BWIP, fin & Trans 300 300 90
Started/ Trans in, FIn & Transferred 4200 4200 4200
EWIP 2000 2000 1200
Total 6500 6500 5490

Current
15 Cost 50000
EUP 6050
Unit Cost 8.26446281

Current
16 Cost 80000
EUP 5950
Unit Cost 13.44537815

17 Units Work done CPU Total

Materials 1000 30% 9 2700
 Conversion 1000 20% 16 3200
Total cost 5900

18
BWIP 1000

STARTED 11000
TOTAL UNITS ACCOUNTED FOR 12000

MATERIAL
S
WORK
ACTUAL DONE EUP
BWIP 1000 0% 0

STARTED 9000 100% 9000

EWIP 2000 100% 2000
TOTAL UNITS ACCOUNTED FOR 12000 11000

21 Mixing Department
Quantity Schedule
BWIP 3,000
Started 8,000
11,000

Units Accounted as follows Total Transferred Materials Conversion

BWIP Finished and Transferred 3,000 - - 1,000
Started Finished and Transferre 4,000 4,000 4,000 4,000
EWIP 4,000 4,000 4,000 2,000
11,000 8000 8,000 7,000

22-2Mixing Department
Quantity Schedule
BWIP 3,000
Started 8,000
11,000

Units Accounted as follows Total Transferred Materials Conversion

BWIP Finished and Transferred 3,000 - - 1,000
Started Finished and Transferre 4,000 4,000 4,000 4,000
EWIP 4,000 4,000 4,000 2,000
11,000 8000 8,000 7,000

Cost Schedule
BWIP 25,000 16,000 5,000 4,000
 Current Period Cost 473,000 235,000 140,000 98,000
498,000 251,000 145,000 102,000

Cost per Unit 61 29 18 14

Cost Accounted as follows

BWIP Finished and Transferred
Cost last month 25,000 16,000 5,000 4,000
Cost this month 14,000 - - 14,000
39,000
Started and transferred In 243,500 117,500 70,000 56,000
Total Cost Transferred In 282,500
EWIP 215,500 117,500 70,000 28,000
498,000

24-2Quantity Schedule
BWIP 35,000
Started 75,000
110,000

Units Accounted as follows Total Transferred Materials Conversion

BWIP Finished and Transferred 35,000 - 10,500 21,000
Started Finished and Transferre 55,000 55,000 55,000 55,000
EWIP 20,000 20,000 16,000 12,000
110,000 75000 81,500 88,000

Cost Schedule
BWIP 69,400 30,000 39,400
Current Period Cost 331,000 - 180,000 151,000
400,400 0 210,000 190,400

Cost per Unit 2.21 1.72

Ending Inventory 55,928 35,337 20,591

CONVERSI
ON
WORK
DONE EUP
40% 400

100% 9000
30% 600
10000