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Briones, Jomel S. Bsma - 1A Cost Accounting

The document discusses process costing for a production process. It provides information on the quantity schedule, including units received, completed, in process, and lost. It also includes the equivalent materials and labor & overhead costs for work done and production. It then calculates the total costs charged to the department, including costs from the preceding department and costs added, broken down by materials and conversion costs. Finally, it accounts for the total costs by calculating the costs for completed units transferred and the costs for the work in process at the end.

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Lorenzo Pancho
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117 views1 page

Briones, Jomel S. Bsma - 1A Cost Accounting

The document discusses process costing for a production process. It provides information on the quantity schedule, including units received, completed, in process, and lost. It also includes the equivalent materials and labor & overhead costs for work done and production. It then calculates the total costs charged to the department, including costs from the preceding department and costs added, broken down by materials and conversion costs. Finally, it accounts for the total costs by calculating the costs for completed units transferred and the costs for the work in process at the end.

Uploaded by

Lorenzo Pancho
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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Briones, Jomel S.

BSMA – 1A
Cost Accounting

PROCESS COSTING

MATERIALS LABOR + OVERHEAD


WORK EQUIVALENT WORK EQUIVALENT
QUANTITY SCHEDULE ACTUAL
DONE PRODUCTION DONE PRODUCTION
UNITS RECEIVED 28, 000 units
UNITS COMPLETED 16, 000 units 100% Php16, 000 100% Php16, 000
UNITS IN PROCESS 10, 000 units - - 60% Php 6, 000
UNITS LOST 2, 000 units 100% Php 2, 000 100% Php 2, 000
28, 000 units Php18, 000 Php24, 000

Cost Charged to the Department 2


COST FROM PRECEEDING DEPARTMENT Php280, 000 Php10.00
COST ADDED TO THE DEPARTMENT
(24, 000/18,000)
MATERIALS Php 24, 000 Php 1.33

(180, 000/24, 000)


CONVERSION COST Php180, 000 Php 7.50

TOTAL ADDED COST Php204, 000 Php 8.53


TOTAL COST CHARGED AS ACCOUNTED FOR Php484, 000 Php18.83

Cost Accounted as follows


(18, 000 x 18.8333)
COMPLETED AND TRANSFERED
Php339, 000
WORK IN PROCESS, END
(10, 000 x 10)
COST FROM PRECEEDING
Php100, 000
MATERIALS
(6, 000 x 7.50)
CONVERSION COST
Php 45, 000 Php145, 000
TOTAL COST ACCOUNTED FOR Php484, 000

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