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    Process - Costing FIFO

    Uploaded by

    Angela Miles Dizon
    The document summarizes production and cost data for YouCanMakeIt Co., which produces fencing in two stages. In the cutting department, wood is cut and assembled into fence sections. These sections are then treated and coated in the coating department. Production data is provided for March 2010, including units started and completed, beginning and ending work in process inventories, and material and conversion costs for each department.

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    Process - Costing FIFO

    Uploaded by

    Angela Miles Dizon
    70 views6 pages
    The document summarizes production and cost data for YouCanMakeIt Co., which produces fencing in two stages. In the cutting department, wood is cut and assembled into fence sections. These sections are then treated and coated in the coating department. Production data is provided for March 2010, including units started and completed, beginning and ending work in process inventories, and material and conversion costs for each department.

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    Process_Costing FIFO

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    The document summarizes production and cost data for YouCanMakeIt Co., which produces fencing in two stages. In the cutting department, wood is cut and assembled into fence sections. These sections are then treated and coated in the coating department. Production data is provided for March 2010, including units started and completed, beginning and ending work in process inventories, and material and conversion costs for each department.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    70 views6 pages

    Process - Costing FIFO

    Uploaded by

    Angela Miles Dizon
    The document summarizes production and cost data for YouCanMakeIt Co., which produces fencing in two stages. In the cutting department, wood is cut and assembled into fence sections. These sections are then treated and coated in the coating department. Production data is provided for March 2010, including units started and completed, beginning and ending work in process inventories, and material and conversion costs for each department.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    of 6

    YouCanMakeIt Co. makes fencing in a 2-stage production system.

    In the cutting Department wood is cut and assembled into 6


    the sections are pressure-treated to resist the effects of weather and then coated with a preservative. The following productio

    Units Cutting Department Coating Department Costs


    BWIP 1,300.00 900.00 BWIP
    Complete as to material 80% - Transferred in
    Complete as to conversion 75% 60% Material
    Units Started in March 4,800.00 ? Conversion
    Units completed in March ? 4,500.00 Current
    EWIP 1,100.00 ? Transferred in
    Complete as to material 40% - Material
    Complete as to conversion 20% 40% Conversion
    s cut and assembled into 6-foot fence sections. In the Coating Department
    ve. The following production and cost data are available for March 2010

    Cutting Department Coating Department

    N/A 11,840.00
    8,345.00 -
    7,720.00 1,674.00

    N/A ?
    35,200.00 4,950.00
    21,225.00 11,300.00
    Cutting Process

    Units to be accounted for BWIP


    BWIP 1,300.00 Started and completed
    Units Started 4,800.00 EWIP
    Total Units to be accounted for 6,100.00 Units accounted for

    Units accounted for Cost per EUP


    BWIP 1,300.00 Materials
    Units started and completed 3,700.00 Conversion
    Completed 5,000.00
    EWIP 1,100.00
    Total Units accounted for 6,100.00
    Total Cost as accounted for
    BWIP
    Materials
    Conversion
    Started & completed
    EWIP
    Materials
    Conversion
    Total Cost to be accounted for
    Pressure Process

    Units to be accounted for BWIP


    BWIP 900.00 Units started and completed
    Transferred in units 5,000.00 EWIP
    Total Units to be accounted for 5,900.00

    Units accounted for Cost/EUP


    BWIP 900.00
    Units started and completed 3,600.00 Transferred In
    Completed 4,500.00 Materials
    EWIP 1,400.00 Conversion
    Total Units accounted for 5,900.00

    Total Cost as accounted for


    BWIP
    Transferred In
    Materials
    Conversion
    Started & completed
    EWIP
    Transferred In
    Materials
    Conversion
    Total Cost to be accounted for
    EUP
    Materials Conversion
    1,300.00 260.00 325.00
    3,700.00 3,700.00 3,700.00
    1,100.00 440.00 220.00
    4,400.00 4,245.00

    Cost this month EUP Cost/EUP


    35,200.00 4,400.00 8.00
    21,225.00 4,245.00 5.00
    13.00

    16,065.00
    260.00 8.00 2,080.00
    325.00 5.00 1,625.00
    3,700.00 13.00 48,100.00

    440.00 8.00 3,520.00


    220.00 5.00 1,100.00
    72,490.00

    Transferred In Materials Conversion


    900.00 - 900.00 360.00
    3,600.00 3,600.00 3,600.00 3,600.00
    1,400.00 1,400.00 - 560.00
    5,000.00 4,500.00 4,520.00

    This month EUP Unit cost


    67,870.00 5,000.00 13.57
    4,950.00 4,500.00 1.10
    11,300.00 4,520.00 2.50
    84,120.00 17.17

    13,514.00
    - 13.57 -
    900.00 1.10 990.00
    360.00 2.50 900.00
    3,600.00 17.17 61,826.40

    1,400.00 13.57 19,003.60


    - 1.10 -
    560.00 2.50 1,400.00
    97,634.00

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