Republic of the Philippines

BULACAN STATE UNIVERSITY

Acctg. 102/202 Cost Accounting

Quiz 4

Name_____________________________________ BSE 1C March ____, 2025

Provide a proper solution. For no solution / incorrect solution, no credit. Use of pencil and yellow paper(s) are not allowed.

CBA Company has a cycle time of less than a day, uses a Raw and In Process account and expenses all conversion costs to Cost
of Goods Sold. At the end of each month, all inventories are counted, their conversion cost components are estimated and inventory
account balances are adjusted accordingly. Raw materials are backflushed from RIP to Finished Goods. The following information
is for the month of January 2025:

RIP beginning, including P6,120 conversion costs 18,120

FG beginning, including P15,300 conversion costs 45,300

Raw materials purchased on credit 360,785

RIP end, including P7,140 conversion costs 21,140

FG end, including P11,730 conversion costs 34,730

Direct labor 84,000

Factory Overhead 100,000

Prepare the journal entries below and answer the questions: (15 points)
Account Title Debit Credit Account Title Debit Credit

What is the amount of materials in the cost of goods sold? ________________________________________________________

What is the amount of cost of goods manufactured? _____________________________________________________________

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BSA Company has a cycle time of less than a day, uses a Raw and In Process account and expenses all conversion costs to Cost
of Goods Sold. At the end of each month, all inventories are counted, their conversion cost components are estimated and inventory
account balances are adjusted accordingly. Raw materials are backflushed from RIP to Finished Goods. The following information
is for the month of February 2025:
RIP beginning, including P29,880 conversion costs 50,000

FG beginning, including P14,940 conversion costs 25,000

Raw materials purchased on credit 134,640

RIP end, including P16,000 conversion costs 40,000

FG end, including P28,000 conversion costs 46,850

Direct labor 100,000

Factory Overhead 100,000

Complete the table below and answer the questions. (15 points)
Raw and In Process Finished Goods Cost of Goods Sold

Materials Conversion Materials Conversion Materials Conversion

Beginning Balances

Materials Purchased

Conversion costs incurred

RM BF from RIP to FG

RM BF from FG to COGS

Conversion costs BF

Ending balances
What is the amount of materials backflushed from Raw and In Process to Finished Goods? ______________________________
What is the amount of materials backflushed from FG to Cost of Goods Sold? _________________________________________
What is the amount of cost of goods manufactured? _____________________________________________________________

CBEA Company uses a perpetual inventory system and applies the FIFO method. During the month of January 2025, the available
raw materials are as follows:
Material A Material B Material C
Jan. 1, 2025 balances 3,000 units at P6.00 4,000 units at P12.00 5,000 units at P25.00
Purchases Jan. 2, 2025 10,000 units at P6.50 5,000 units at P12.25 5,000 units at P25.10
Purchases Jan. 15, 2025 10,000 units at P6.75 10,000 units at P12.50 10,000 units at P25.25

On Jan. 2, Job No. 101 was started using 6,000 units of Material A, 4,000 units of Material B, and 4,000 units of Material C.
On Jan. 9, Job No. 102 was started using 6,000 units of Material A, 4,000 units of Material B, and 4,000 units of Material C.
On Jan. 16, Job No. 103 was started using 6,000 units of Material A, 4,000 units of Material B, and 4,000 units of Material C.
On direct labor costs, Job No. 501 requires 80 hours at P197 hourly rate; Job No. 502 requires 100 hours at P198 hourly rate; and
Job No. 503 requires 72 hours at P200 hourly rate. The factory overhead is applied at 80% of material costs. All jobs were
completed in January 2025.

Required: Compute the total cost for each job. (15 points)
Job 501 Job 502 Job 503

Direct Materials: Material A

Material B

Material C

Direct labor cost

Applied Factory Overhead at 80% of MC

Total costs per job

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