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Cost Midterm Compre Exam

Magtour nami Manufacturing Co. operates in two departments: Department I and Department II. Various quantity and cost data is provided for production in each department for the month of December 2018. This includes beginning and ending work in process, units placed in and transferred out of each department, abnormal losses, materials, labor, and factory overhead costs. Costs are applied evenly throughout Department I, while materials are added at different stages of completion in Department II. A quantity schedule and cost of production report are required based on the data provided.

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Christian Clyde Zacal Ching
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66 views1 page

Cost Midterm Compre Exam

Magtour nami Manufacturing Co. operates in two departments: Department I and Department II. Various quantity and cost data is provided for production in each department for the month of December 2018. This includes beginning and ending work in process, units placed in and transferred out of each department, abnormal losses, materials, labor, and factory overhead costs. Costs are applied evenly throughout Department I, while materials are added at different stages of completion in Department II. A quantity schedule and cost of production report are required based on the data provided.

Uploaded by

Christian Clyde Zacal Ching
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Magtour nami Manufacturing Co. operates in two consecutive departments, I and II .

Department I Department II
Quantity Data:
In Process, Beg ?, 50% complete 60,000 units, 20% done
In Process, End 70,000 units, 60% incomplete 35,000 units, 60% done
Abnormal Loss 10,000 units, 20% done 15,000 units, 40% done
Placed in Process, Finished and Transferred 60,000 units
Transferred Out 80,000 units (without loss)
Equivalent Units of Production (EUP)

Cost Data:
In Process, Dec. 1 P70,000 P200,000
Factory Costs:
Materials P900,000 P492,500
Labor 500,000 P630,000
Factory Overhead 60% of Labor P2.50 per EUP
In Department I, all costs (materials and conversion costs) are evenly applied throughout the
process.
In Department II, materials are added as follows: 20% are added at the start of the process, 30%
are added at 4/6 of the process, 25% are added at 4/5 of the process and the remainder at the end of the
process.
Required: Quantity Schedule and Cost of Production Report for December 2018

The product of Kalimtan na Tika Mfg. Co. is processed in two consecutive departments, X and Y. Costs are
evenly applied in Department X. The addition of materials at the start of the process in Dept Y increase
quantity in the department, . The following data are given on the September 2018 production

Department X Department Y
Quantity Data:
In Process, beg 8,000 units 2/5 done 10,000 units, 3/5 undone
Received from preceding dept 60,000 units
Transferred Out ? 68,000 units
In Process, end 6,000 units 3/4 done 7,000 units, 2/4 done

Cost Data:
In Process, Dec. 1 P203,168 P200,000
Factory Costs:
Materials P537,300 P650,000
Labor P229,845 P303,750
Factory Overhead 60% of Labor P1.80 per EUP

Required: Quantity Schedule and Cost of Production Report for December 2018

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