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Process For Materials and Conversion

The document assigns a group project on process costing with 5 groups. Each group is assigned 2 questions to answer related to process costing. The groups must submit their answers in an Excel or Word document with their names and enrollment numbers. The assignment is due on March 28th, 2020 by 5:00 PM. The CR will submit 5 documents in a zip folder to the instructor.

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Shahzaib Naseer
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98 views4 pages

Process For Materials and Conversion

The document assigns a group project on process costing with 5 groups. Each group is assigned 2 questions to answer related to process costing. The groups must submit their answers in an Excel or Word document with their names and enrollment numbers. The assignment is due on March 28th, 2020 by 5:00 PM. The CR will submit 5 documents in a zip folder to the instructor.

Uploaded by

Shahzaib Naseer
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Note: It’s a group assignment, please solve the questions on excel or word

document. Mention the names and enrollment no correctly. Also the questions. CR
please share the list of group numbers and members with me. Please pick the
questions from below mentioned group numbers (e.g group 1 will do group 1
questions. )No late assignment will be entertained.
Deadline: 28th March 2020 sharp 5:00 PM
CR will submit me five documents in zip folder .

Assignment 03 Marks 10
Process Costing

Group 1:
1. Complete this production cost report:

2. Given the following information, determine the equivalent units of ending work in
process for materials and conversion:
 Beginning inventory of 2,500 units is 100% complete with regard to materials
and 60% complete with regard to conversion
 18,000 units were started during the period
 17,500 units were completed and transferred
 ending inventory is 100% complete with materials and 65% complete with
conversion
Group 2:
1. Production data show 15,200 units were transferred out of a stage of production
and 3,500 units remained in ending WIP inventory that was 100% complete to material
and 60% complete to conversion. The unit material cost is $9 for material and $4 for
conversion. What is the amount of inventory transferred out and remaining in ending
work in process inventory?
2. Given the following information, prepare a production report with materials added at the
beginning and ending work in process inventory being 25% complete with regard to
conversion costs

Group 3
1. The following data show the units in beginning work in process inventory, the number of
units started, the number of units transferred, and the percent completion of the ending
work in process for conversion. Given that materials are added at the beginning of the
process, what are the equivalent units for material and conversion costs for each quarter?
Assume that the quarters are independent.
Quarter Beg WIP Started Transferred Out Conversion (%)
1 0 134250 133250 25
2 520 132500 132000 24
3 338 133254 133443 20
4 489 134843 134232 23

2. The Ahmed Company uses process costing. In department B conversion cost are incurred
uniformly throughout the process. Materials will be added at the end of process after
inspection. Inspection was being done at 80% stage of completion. Normal spoilage is
expected to be 10% of good output.
Units Dollars
Received from department A 12000 $60000
Transferred to finished goods 9000
Ending inventory (70% complete) 2000
Cost incurred
Material $27000
Labor and FOH 19600
Prepare Cost of Production Report.

Group 4:
1. Given the following information, prepare a production report with materials added at
the beginning and ending work in process inventory being 80%complete with regard
to conversion costs.

2. Production data show 14,700 units were transferred out of a stage of production


and 3,000 units remained in ending WIP inventory that was 100% complete to
material and 60% complete to conversion. The unit material cost is $8 for material
and $3.5 for conversion. What is the amount of inventory transferred out and
remaining in ending work in process inventory?
Group 5:
1. Complete this production cost report: Ending inventory was 100% complete as to
materials and 70% complete as to conversion, and the total materials cost is $115,080 and
the total conversion cost is $72,072. Using the weighted-average method, what are the
unit costs if the company transferred out 34,000 units

2. During March, the following costs were charged to the manufacturing


department: $22,500 for materials; $45,625 for labor; and $50,000 for manufacturing
overhead. The records show that 40,000 units were completed and transferred,
while 10,000 remained in ending inventory. There were 45,000 equivalent units of
material and 42,500 units of conversion costs. prepare the company’s process cost
summary for the month.

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