A. Work in process, beginning, 12,000 units - 1/4 completed and 8,000 units 1/8 completed; started in process, 50,000 units; transferred and completed, 40,000 units; work in process, end, 1/6 completed.
Quantity
Schedule:
|
Units
|
||
In process, beginning
|
12,000
|
||
8,000
|
|||
Started in process
|
50,000
|
||
Total
units to be accounted for
|
70,000
|
||
Accounted
for as follows:
|
Actual
|
Work done
|
Equivalent production
|
Finished and transferred
|
|||
In process, beginning
|
12,000
|
3/4
|
9,000
|
8,000
|
7/8
|
7,000
|
|
Started in process
|
20,000
|
100%
|
20,000
|
In process, end
|
30,000
|
1/6
|
5,000
|
Total
units accounted for
|
70,000
|
||
Total
equivalent production
|
41,000
|
B. Work in process, beginning:
10, 000 units, 2/5 completed
10, 000 units, 3/5 and
5, 000 units, 2/5 completed.
Placed into process: 40, 000 units
Finished and transferred: 45, 000 units
Work in process, end 1/2 is 4/5 completed and the balance is 1/2 completed.
Quantity
Schedule:
|
Units
|
||
In process, beginning
|
10,000
|
||
10,000
|
|||
5,000
|
|||
Started in process
|
40,000
|
||
Total
units to be accounted for
|
65,000
|
||
Accounted
for as follows:
|
Actual
|
Work done
|
Equivalent production
|
Finished and transferred
|
|||
In process, beginning
|
10,000
|
3/5
|
6,000
|
10,000
|
2/5
|
4,000
|
|
5,000
|
3/5
|
3,000
|
|
Started in process
|
20,000
|
100%
|
20,000
|
In process, end
|
10,000
|
4/5
|
8,000
|
10,000
|
1/2
|
5,000
|
|
Total
units accounted for
|
65,000
|
||
Total
equivalent production
|
46,000
|
C. Work in process, beginning: 1/3 completed
Started in process: 44,000 units
Transferred: 30,000 units
Work in process, end: 20,000 units, 1/5 completed
Computation of work in
process, beginning:
Work in process, end
20,000
Transferred
30,000
Started in process (44,000)
Work in process, beginning 6,000
Quantity
Schedule:
|
Units
|
||
In process, beginning
|
6,000
|
||
Started in process
|
44,000
|
||
Total
units to be accounted for
|
50,000
|
||
Accounted
for as follows:
|
Actual
|
Work done
|
Equivalent production
|
Finished and transferred
|
|||
In process, beginning
|
6,000
|
2/3
|
4,000
|
Started in process
|
24,000
|
100%
|
24,000
|
In process, end
|
20,000
|
1/5
|
4,000
|
Total
units accounted for
|
50,000
|
||
Total
equivalent production
|
32,000
|
D. Work in process, beginning: 6,000 units, 1/2 completed
9,000 units, 1/3 completed
Started in process: 30,000 units
Completed and transferred: 20,000 units
Work in process, end: 1/4 is 2/5 completed;
1/2 is 4/5 completed;
balance 1/10 completed.
1/2 is 4/5 completed;
balance 1/10 completed.
Quantity
Schedule:
|
Units
|
||
In process, beginning
|
6,000
|
||
9,000
|
|||
Started in process
|
30,000
|
||
Total
units to be accounted for
|
45,000
|
||
Accounted
for as follows:
|
Actual
|
Work done
|
Equivalent production
|
Finished and transferred
|
|||
In process, beginning
|
6,000
|
1/2
|
3,000
|
9,000
|
2/3
|
6,000
|
|
Started in process
|
5,000
|
100%
|
5,000
|
In process, end
|
6,250
|
2/5
|
2,500
|
12,500
|
4/5
|
10,000
|
|
6,250
|
1/10
|
625
|
|
Total
units accounted for
|
45,000
|
||
Total
equivalent production
|
27,125
|
Getting work in process, end:
🍁🍂🌾 🍁🍂🌾 🍁🍂🌾 🍁🍂🌾 🍁🍂🌾 🍁🍂🌾 🍁🍂🌾 🍁🍂🌾 🍁🍂🌾 🍁🍂🌾
Notes:
Units to be accounted for computed and shown in the quantity schedule must be accounted for completely, as gleaned from the 'Accounted for as follows' portion.
Computing for Started in Process in the Accounted for as follows portion: Units completed and transferred - in process, beginning.
It would help using the T-account as a guide for computing:
As for the percentages of completion, always remember to make the percentage in the In process, beginning as 1 - fraction/percentage, while in the In process, end, copy the percentage of completion as is.
I hope this helped! 🍁
#EvenApplication #FIFO #ProcessCosting
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