process costing problems and solutions doc

process costing problems and solutions doc

&4A,�e��X�w1�`3y��� Bloom Item L.O. � � � 5. Grinding requires the greatest amount of material and conversion cost. � o � 340,000 units were transferred to department Y during the month. During 1993, work was begun on … � Costs attached to these units were tk. However, costs have risen since the last complete cost analysis was conducted. � I did not think that this would work, my best friend showed me this My friends are so mad that they do not know how I have all the high � Process Costing - Characteristics, Features, Application in Industry, Process Costing - Elements/Components of Cost, Recording/Accounting Methodology, Process Costing - Collection of information, Cost ledgers, integrated accounting, Process Account - Input, Output, Cost of Production, Process Account - Gross/Net Input/Output, Normal/Abnormal Loss/Gain, Cost of Production, Process Account - Normal Loss - Illustration, Process Account - Normal/Abnormal Loss - Illustration, Abnormal Gain - Valuation and Accounting Treatment, Process Account - Abnormal Gain - Illustration, Closing Stock in Process Account - Raw Material, Finished Goods, Work in Progress, Closing Stock of Raw Material in Process Account, Stock of Raw Material in Process Account - Illustration, Closing Stock of Finished Goods/Stock in Process Account, Closing Stock of Finished Goods/Stock in Process Account - Illustration, Inter Process Profits and Closing stock of Finished Goods, Closing Stock of Work-in-Progress in Process Account, Statement of Equivalent Production, Statement of Cost, Statement of Evaluation, Only closing Stock of Work-in-Progress in Process Account - illustration, Weighted Average, FIFO methods for valuation of work-in-progress in Process Accounts, Both opening and closing Stocks of Work-in-Progress in Process Account - illustration, Only opening Stock of Work-in-Progress in Process Account - illustration, Simple Process Accounts involving Overhead Distribution, Normal Loss - Wastage, Scrap - Cost Sheet, Part Production sold - Income Statement, Cost Sheet, Reverse Calculations - Finding input, Wastage Percentage, Normal Abnormal Losses - Process Accounts, Normal Losses and Abnormal Gains - Process Accounts, Normal Loss, Abnormal Loss, Abnormal Gain - Process Accounts, Income Statement, Stocks at Raw Material Stage and Normal losses, Stocks at Finished Goods Stage and Normal losses, Inter Process Profits only closing Finished Goods, Inter Process Profits both opening and closing Finished Goods. Copyright 10. Ff� $If gd�� $$If a$gd�gP � � Please feel free to check your answer here. � �~������ZkS�Z(=3D��Y���bI'��3����hZ����E�4���1���^|Sk��^(�7P��`$�f�ݤo ����*YD�*���9��f��=M�K1w��E��m�`9�Px���g0$Ύ���r$�Wo��٧e���[K}T�%Ȅ�*���:X��F���Y�a�Jk��ӵ�P�#R�PP,�T �˿�{� v��k?�M��E��K�5y��f% C�&�)7��"b�� � Work backwards from the cost per equivalent unit to determine units completed and transferred out: MaterialsConversionBeginning inventory$5,900$15,000Added to production 47,300 65,000 Total materials cost$53,200$80,000Materials cost per EU ( $.40 ( $.64Equivalent units133,000125,000Less: Ending WIP EU Materials (40,000 ( 60%)(24,000) Conversion (40,000 ( 40%)(16,000)Units completed & transferred109,000109,000 Notice the result was the same using the $.40 materials EU cost or the $.64 conversion EU cost. Finally I get this ebook, thanks for all these Process Costing Problems And Solutions I can get now! Calculate and explain equivalent units of production. During April, 320,000 units were started in Department X. Residue of process C was sold for Rs.166. � 1. Please sign in or register to post comments. � � 4. [ Sometimes work in process is further along with respect to the materials that are added in a process than the conversion that is required to complete the process. On the other hand, if our customers can purchase jackets of similar quality for less than $148.63, we don�t want to raise our prices that high. �L(ү&FΈ}���G��ż�_30����ִ 5 0 obj chapter 04 systems design: process costing uploaded qasim mughal chapter systems design: process costing solutions to questions process costing system should In order to read or download Process Costing Problems And Solutions ebook, you need to create a FREE account. Report a Violation, Process Costing-Inter Process Profits: Meaning and Its Adjustment, Difference between Job Costing and Process Costing, Top 7 Problems on Standard Costing with Solutions. TOS 7. The Bharat Manufacturing Company’s product passes through two distinct processes, X and Y, and then to the finished stock. s 2630 � .? These units were 60% complete. Z � � � access to our ebooks online or by storing it on your computer, you have convenient � t ��0 � � � � � � � 6� � � � �� � � �� � � �� � � �4� 4� 4. 3,000 units ( 40% = 1,200 EU b. dividing these costs by the departments Check processing in a bank, cleaning teeth, output measured for the same period of time. l a�Qyt�gP o p � � � o c T T $dh $If a$gd�gP dh $If gd�gP � kd. The scrap value of the wastages in process X is Rs.8 per 100 units and in process Y is Rs.10 per 100 units. 14400 for overhead. � � � � � � � � � � � � � � � � � � � � � � � � � � � $If gd�� FfE Ff� $$If a$gd�gP r State the Calculating EU is necessary to equate units that are finished in a process to units that are still in process at the end of a period. We may be pleasantly surprised to learn that our competitors� prices are in the $150 range, so customers will be willing to pay $148.63. � stream � � There was no stock or work-in-progress in any process. Ff� $$If a$gd�gP � � ` website, and it does! Contract Costing: Learning Objectives, Features, Sub … t ��0 � � � � � � � 6� � � � �� � � �� � � �� � � �4� 4� � <> Q � � you need to create a FREE account. Otherwise, there is no way that costs could be assigned to both. t Academy Almanac Exam Papers News Blog Contact . t ��0 � � � � � � � 6� � � � �� � � �� � � �� � � �4� 4� quality ebook which they do not! 4-2. � z � The total cost assigned to the units transferred out of work in process and to the units in ending work in process equals the total of beginning work in process inventory plus the materials and overhead costs added during the period. � Assign costs to completed units and ending work-in-process inventory. � b. Based on the current operations at the Williamsburg plant, it costs $89 to make a jacket. � � � � � � � � � � � � � � � � � � � � � � � � � Ff� $If gdr_b $If gd� $If gd�� Ff $$If a$gd�gP � lol it did not even take me 5 minutes at all! � � � � � � � � � � � � � � � � � � � � � � � � � $If gdQ$! As far as I can tell, everything is operating as it should. 17-2 Process costing systems separate costs into cost categories according to the timing of when costs are introduced into the process. During the month of December 1992, the following information was obtained: Production Overhead is absorbed by processes at a percentage of direct wages. ���� N� � O� � P� � Q� � a$gd�� �4 E5 �� � � � � � � � � � � � � � � � � � �

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