1.

)
Inventory (in units) CLEANING % of Completion ASSEMBLY
Mat CC
Work-In-Process, beginning 60,000 0% 25% 25,000
Started / Transferred In 100,000 120,000
Transferred Out 120,000 89,000
Work-In-Process, end 40,000 0% 10% 56,000

Costs
Materials
Beginning 87,000 146,200
Incurred 132,000 99,500

Conversion Costs
Beginning 39,800 177,000
Incurred 100,000 184,000

ANSWERS:

1A.)
CLEANING DEPARTMENT
Cost of Production Report
For the month of xx

Quantity Schedule Units

(a) Quantity to be Accounted For
Work-In-Process, beginning 60,000
Transferred In 100,000
Total Quantity to be Accounted for 160,000

(b) Quantity Accounted For

Transferred Out to the Next Department 120,000
Work-In-Process, ending 40,000
Total Quantity Accounted for 160,000

Cost Schedule
Total Cost Equivalent
( c ) Costs to be Accounted For
Materials ₱ 219,000 120,000
Conversion Cost 139,800 124,000
Total Costs to be Accounted For ₱ 358,800

( d ) Cost Accounted For

Transferred Out ₱ 354,290 120,000
Work-In-Process, end
 Materials 0 0
Conversion Cost 4,510 4000
Total Work-In-Process 4,510

Total Cost Accounted For ₱ 358,800

ASSEMBLY DEPARTMENT
Cost of Production Report
For the month of xx

Quantity Schedule Units

(a) Quantity to be Accounted For
Work-In-Process, beginning 25,000
Transferred In 120,000
Total Quantity to be Accounted for 145,000

(b) Quantity Accounted For

Transferred Out to the Next Department 79,000
Work-In-Process, ending 66,000
Total Quantity Accounted for 145,000

Cost Schedule
Total Cost Equivalent
( c ) Costs to be Accounted For
Transferred In ₱ 354,290 145,000
Materials 245,700 89,000
Conversion Cost 361,000 106,920
Total Costs to be Accounted For ₱ 960,990

( d ) Cost Accounted For

Transferred Out ₱ 677,853 79,000
Work-In-Process, end
Cost from Prior Dept. 136,829 56,000
85,804 10,000
Materials 0 0
Conversion Cost 60,504 17,920
Total Work-In-Process 146,308

Total Cost Accounted For ₱ 960,990

FINISHING DEPARTMENT
Cost of Production Report
For the month of xx
Quantity Schedule Units
(a) Quantity to be Accounted For
Work-In-Process, beginning 90,000
Transferred In 79,000
Total Quantity to be Accounted for 169,000

(b) Quantity Accounted For

Transferred Out to the Next Department 74,500
Work-In-Process, ending 94,500
Total Quantity Accounted for 169,000

Cost Schedule
Total Cost Equivalent
( c ) Costs to be Accounted For
Transferred In ₱ 677,853 169,000
Materials 232,050 169,000
Conversion Cost 80,200 159,550
Total Costs to be Accounted For ₱ 990,103

( d ) Cost Accounted For

Transferred Out ₱ 438,559 74,500
Work-In-Process, end
Cost from Prior Dept. 379,036 94,500
Materials 129,756 94,500
Conversion Cost 42,752 85,050
Total Work-In-Process 551,543

Total Cost Accounted For ₱ 990,103

1B.)
CLEANING DEPARTMENT
Cost of Production Report
For the month of xx

Quantity Schedule Units

(a) Quantity to be Accounted For
Work-In-Process, beginning 60,000
Transferred In 100,000
Total Quantity to be Accounted for 160,000

(b) Quantity Accounted For

Transferred Out to the Next Department
From Beginning Work-In-Process 60,000
 Started and Completed 60,000 120,000
Work-In-Process, ending 40,000
Total Quantity Accounted for 160,000

Cost Schedule
Total Cost Equivalent
( c ) Costs to be Accounted For
Work-In-Process, beginning ₱ 126,800
Costs Incurred in Current Month
Materials 132,000 120,000
Conversion Cost 100,000 109,000
Total Costs to be Accounted For ₱ 358,800

( d ) Cost Accounted For

Transferred Out
From Beginning WIP Inventory ₱ 126,800
Current Month Costs:
Materials 66,000 60,000
Conversion Cost 41,284 45,000
Costs of Completed beg. WIP ₱ 234,084 60,000
Started and Completed 121,046 60,000
Total Costs Transferred ₱ 355,130 120,000
Work in Process Ending
Costs in this Department
Materials - 0
Conversion Cost 3,670 4,000
Total 3,670

Total Costs Accounted For ₱ 358,800

ASSEMBLY DEPARTMENT
Cost of Production Report
For the month of xx

Quantity Schedule Units

(a) Quantity to be Accounted For
Work-In-Process, beginning 25,000
Transferred In 120,000
Total Quantity to be Accounted for 145,000

(b) Quantity Accounted For

Transferred Out to the Next Department
From Beginning Work-In-Process 25,000
 Started and Completed 54,000 79,000
Work-In-Process, ending 66,000
Total Quantity Accounted for 145,000

Cost Schedule
Total Cost Equivalent
( c ) Costs to be Accounted For
Work-In-Process, beginning ₱ 323,200
Costs Incurred in Current Month
Trans-In Costs from Prior Department 355,130 120,000
Materials 99,500 89,000
Conversion Cost 184,000 96,920
Total Costs to be Accounted For ₱ 961,830

( d ) Cost Accounted For

Transferred Out
From Beginning WIP Inventory ₱ 323,200
Current Month Costs:
Materials 27,949 25,000
Conversion Cost 28,477 15,000
Costs of Completed beg. WIP ₱ 379,627 25,000
Started and Completed 322,697 54,000
Total Costs of Transferred Out ₱ 702,323 79,000
Work-in-Process, Ending
Trans-In Costs from Prior Department 165,727 56,000
59,759 10,000
Costs in this Department
Materials - 0
Conversion Cost 34,021 17,920
Total 34,021

Total Costs Accounted For ₱ 961,830

FINISHING DEPARTMENT
Cost of Production Report
For the month of xx

Quantity Schedule Units

(a) Quantity to be Accounted For
Work-In-Process, beginning 90,000
Transferred In 79,000
Total Quantity to be Accounted for 169,000

(b) Quantity Accounted For

Transferred Out to the Next Department
 From Beginning Work-In-Process 90,000
Started and Completed -15,500 74,500
Work-In-Process, ending 94,500
Total Quantity Accounted for 169,000

Cost Schedule
Total Cost Equivalent
( c ) Costs to be Accounted For
Work-In-Process, beginning ₱ 204,900
Costs Incurred in Current Month
Trans-In Costs from Prior Department 868,051 79,000
Materials 60,050 79,000
Conversion Cost 47,300 96,550
Total Costs to be Accounted For ₱1,180,301

( d ) Cost Accounted For

Transferred Out ₱ 204,900
From Beginning WIP Inventory
Current Month Costs:
Materials 0 0
Conversion Cost 13,227 27,000
Costs of Completed beg. WIP ₱ 218,127 90,000
Started and Completed - 189,689 -15,500
Total Costs Transferred ₱ 28,438 74,500
Work in Process Ending
Trans-In Costs from Prior Department 1,038,365 94,500
Costs in this Department
Materials 71,832 94,500
Conversion Cost 41,666 85,050
Total 113,498

Total Costs Accounted For ₱1,180,301

1C.
CLEANING DEPARTMENT
Cost of Production Report
For the month of xx

Quantity Schedule Units

(a) Quantity to be Accounted For
Work-In-Process, beginning 60,000
Transferred In 100,000
Total Quantity to be Accounted
for 160,000
 (b) Quantity Accounted For
Transferred Out to the Next
Department 120,000
Work-In-Process, ending 40,000
Total Quantity Accounted for 160,000

Cost Schedule
Total Cost Equivalent
( c ) Costs to be Accounted For
Materials ₱ 219,000 120,000
Conversion Cost 139,800 124,000
Total Costs to be
Accounted For ₱ 358,800

( d ) Cost Accounted For

Transferred Out ₱ 354,290 ₱ 120,000
Work-In-Process, end
Materials 0 -
Conversion Cost 4,510 4,000
Total Work-In-Process ₱ 4,510

Total Cost Accounted For ₱ 358,800

ASSEMBLY DEPARTMENT
Cost of Production Report
For the month of xx

Quantity Schedule Units

(a) Quantity to be Accounted For
Work-In-Process, beginning 25,000
Transferred In 120,000
Total Quantity to be Accounted for 145,000

(b) Quantity Accounted For

Transferred Out to the Next Department
From Beginning Work-In-Process 25,000
Started and Completed 54,000 79,000
Work-In-Process, ending 66,000
Total Quantity Accounted for 145,000

Cost Schedule
Total Cost Equivalent
( c ) Costs to be Accounted For
Work-In-Process, beginning ₱ 204,900
 Costs Incurred in Current Month
Trans-In Costs from Prior Department 354,290 120,000
Materials 99,500 89,000
Conversion Cost 184,000 96,920
Total Costs to be Accounted For ₱ 842,690

( d ) Cost Accounted For

Transferred Out
From Beginning WIP Inventory ₱ 204,900
Current Month Costs:
Materials 27,949 25,000
Conversion Cost 28,477 15,000
Costs of Completed beg. WIP ₱ 261,327 25,000
Started and Completed 322,319 54,000
Total Costs Transferred ₱ 583,646 79,000
Work in Process Ending
Trans-In Costs from Prior Department 165,335 56,000
59,689 10,000
Costs in this Department
Materials - 0
Conversion Cost 34,021 17,920
Total Work-In-Process 259,045

Total Costs Accounted For ₱ 842,690

FINISHING DEPARTMENT
Cost of Production Report
For the month of xx

Quantity Schedule Units

(a) Quantity to be Accounted For
Work-In-Process, beginning 90,000
Transferred In 79,000
Total Quantity to be Accounted for 169,000

(b) Quantity Accounted For

Transferred Out to the Next Department 74,500
Work-In-Process, ending 94,500
Total Quantity Accounted for 169,000

Cost Schedule
Total Cost Equivalent
( c ) Costs to be Accounted For
Transferred In ₱ 748,981 169,000
Materials 232,050 169,000
 Conversion Cost 80,200 159,550
Total Costs to be Accounted For ₱1,061,231

( d ) Cost Accounted For

Transferred Out ₱ 469,915 74,500
Work-In-Process, end
Cost from Prior Dept. 418,809 94,500
Materials 129,756 94500
Conversion Cost 42,752 85,050
Total Work-In-Process ₱ 591,316

Total Cost Accounted For ₱1,061,231

2.)
Ending Inventory - Average ₱ 551,543.21
Ending Inventory - FIFO ₱ 113,498.09

3.)
Gross Profit - Average
Gross Profit - FIFO
 % of Completion FINISHING % of Completion
Mat CC Mat CC
0% 40% 90,000 100% 70%
79,000
74,500
0% 32% 94,500 100% 90%

172,000
60,050

32,900
47,300

Unit Costs

₱ 1.83
1.13
₱ 2.95

₱ 2.95
 1.83
₱ 1.13

Unit Costs

₱ 2.44
2.76
₱ 3.38
₱ 8.58

₱ 8.58

2.44
8.58
2.76
₱ 3.38
Unit Costs

₱ 4.01
1.37
0.50
₱ 5.89

₱ 5.89

4.01
1.37
₱ 0.50
Unit Costs

₱ 1.10
0.92
₱ 2.02

₱ 1.10
₱ 0.92
₱ 3.90
₱ 2.02
₱ 2.96

₱ 1.10
0.92
Unit Costs

₱ 2.96
1.12
1.90
₱ 5.98

₱ 1.12
1.90
₱ 15.19
5.98
₱ 8.89

₱ 2.96
₱ 5.98

1.12
1.90
Unit Costs

₱ 10.99
₱ 0.76
0.49
₱ 12.24

₱ 0.76
0.49
2.42
12.24
₱ 0.38

₱ 10.99

₱ 0.76
₱ 0.49
Unit Costs

₱ 1.83
1.13

₱ 2.95

₱ 2.95

1.83
1.13

Unit Costs
₱ 2.95
1.12
1.90
₱ 5.97

₱ 1.12
1.90
10.45
5.97
₱ 7.39

₱ 2.95
₱ 5.97

₱ 1.12
1.90

Unit Costs

₱ 4.43
1.37
 0.50
₱ 6.31

₱ 6.31

4.43
1.37
₱ 0.50

Net Sales ₱ 44,700,000

Less: COGS 438,559
Gross Profit ₱ 44,261,441

Net Sales ₱ 41,400,000

Less: COGS ₱ 911,732.11
Gross Profit ₱ 40,488,267.89
 SOLUTION:
1A.)
CLEANING DEPARTMENT
EUP MATERIALS CC
Transferred Out 120,000 120,000
Add: Work-In-Process, end 0 4,000
120,000 124,000

TOTAL COST
Beginning ₱ 87,000 ₱ 39,800
Add: Incurred 132,000 100,000
₱ 219,000 ₱ 139,800

COST PER UNIT

Total Cost ₱ 219,000 ₱ 139,800
Divide: EUP 120,000 124,000
₱ 1.83 ₱ 1.13

TOTAL COST OF UNITS TRANSFERRED OUT

Transferred Out 120,000
Multiply: Σ of Cost per Units ₱ 2.95
₱ 354,290.32

TOTAL COST OF ENDING WORK-IN-PROCESS

Work-In-Process, end 0 4000
Multiply: Cost per Unit ₱ 1.83 ₱ 1.13
₱ - ₱ 4,509.68

Total Cost Accounted For ₱ 358,800

Total Cost to be Accounted For ₱ 358,800

1B.)
CLEANING DEPARTMENT
Beginning Work-In-Process MATERIAL CC
Work-In-Process, beginning 60,000 60,000
Multiply: 100%-% of Completion 100% 75%
60,000 45,000
Started and Completed
Transferred Out 120,000 120,000
Less: Work-In-Process, beginning 60,000 60,000
60,000 60,000
Ending Work-In-Process
Work-In-Process, ending 40,000 40,000
Multiply: Percentage of Completion 0% 10%
0 4,000
EQUIVALENT UNIT OF PRODUCTION
Beginning Work-In-Process 60,000 45,000
Add: Started and Completed 60,000 60,000
Ending Work-In-Process 0 4,000
120,000 109,000

TOTAL COST ₱ 132,000 ₱ 100,000

COST PER UNIT

Total Cost ₱ 132,000 ₱ 100,000
EUP 120,000 109,000
₱ 1.10 ₱ 0.92

TOTAL COST OF UNITS TRANSFERRED OUT

Beginning Work-In-Process * CPU ₱ 66,000 ₱ 41,284.40
Started and Completed * CPU 66,000 55,045.87
Beginning Cost 87,000 39,800
₱ 219,000 ₱ 136,130.28

TOTAL COST OF ENDING WORK-IN-PROCESS

Work-In-Process, end 0 4,000

CPU ₱ 1.10 ₱ 0.92
₱ - ₱ 3,669.72

Total Cost Accounted For ₱ 358,800

Total Cost to be Accounted For ₱ 358,800

1C.)
CLEANING DEPARTMENT
EUP MATERIALS CC
Transferred Out 120,000 120,000
Add: Work-In-Process, end 0 4000
120000 124000

TOTAL COST
Beginning ₱ 87,000 ₱ 39,800
Add: Incurred 132,000 100,000
 ₱ 219,000 ₱ 139,800

COST PER UNIT

Total Cost ₱ 219,000 ₱ 139,800
Divide: EUP 120,000 124,000
₱ 1.83 ₱ 1.13

TOTAL COST OF UNITS TRANSFERRED OUT

Transferred Out 120000
Multiply: Σ of Cost per Units ₱ 2.95
₱ 354,290.32

TOTAL COST OF ENDING WORK-IN-PROCESS

Work-In-Process, end 0 4000
Multiply: Cost per Unit ₱ 1.83 ₱ 1.13
₱ - ₱ 4,509.68

Total Cost Accounted For ₱ 358,800

Total Cost to be Accounted For ₱ 358,800

 ASSEMBLY DEPARTMENT FINISHING DEPA
MATERIALS CC TI MATERIALS
89,000 89,000 89,000 74,500
0 17,920 56,000 94,500
89,000 106,920 145,000 169,000

₱ 146,200 ₱ 177,000 ₱ 172,000

99,500 184,000 60,050
₱ 245,700 ₱ 361,000 ₱ 354,290 ₱ 232,050

₱ 245,700 ₱ 361,000 ₱ 354,290 ₱ 232,050

89,000 106,920 145,000 169,000
₱ 2.76 ₱ 3.38 ₱ 2.44 ₱ 1.37

79,000 10,000 74,500

₱ 8.58 ₱ 8.58 ₱ 5.89
₱ 677,852.54 ₱ 85,804.12 ₱ 438,559.33

0 17,920 56,000 94,500

₱ 2.76 ₱ 3.38 ₱ 2.44 ₱ 1.37
₱ - ₱ 60,504.30 ₱ 136,829.37 ₱ 129,755.77

₱ 960,990 ₱ 990,103

₱ 960,990 ₱ 990,103

ASSEMBLY DEPARTMENT
MATERIAL CC TI
25,000 25,000
100% 60%
25,000 15,000 0

89,000 89,000
25,000 25,000
64,000 64,000 0

56,000 56,000
 0% 32%
0 17,920 0

25,000 15,000 0
64,000 64,000 0
0 17,920 0
89,000 96,920 0

₱ 99,500 ₱ 184,000 ₱ 355,130

₱ 99,500 ₱ 184,000 ₱ 355,130

89,000 96,920 120,000
₱ 1.12 ₱ 1.90 ₱ 2.96

₱ 27,949.44 ₱ 28,477.09 ₱ 355,130.00

71,550.56 121,502.27 0.00
146,200 177,000
₱ 245,700.00 ₱ 326,979.36 ₱ 355,130.00 ₱ 927,809.36
59,759
₱ 868,050.67

0 17,920 0
₱ 1.12 ₱ 1.90 ₱ 2.96
₱ - ₱ 34,020.64 ₱ -

₱ 961,830

₱ 961,830

ASSEMBLY DEPARTMENT
Beginning Work-In-Process MATERIAL CC TI
Work-In-Process, beginning 25,000 25,000
Multiply: 100%-% of Completion 100% 60%
25,000 15,000 0

Started and Completed

Transferred Out 89,000 89,000
Less: Work-In-Process, beginning 25,000 25,000
 64,000 64,000 0
Ending Work-In-Process
Work-In-Process, ending 56,000 56,000
Multiply: Percentage of Completion 0% 32%
0 17,920 0
EQUIVALENT UNIT OF PRODUCTION
Beginning Work-In-Process 25,000 15,000 0
Add: Started and Completed 64,000 64,000 0
Ending Work-In-Process 0 17,920 0
89,000 96,920 -

TOTAL COST ₱ 99,500 ₱ 184,000 ₱ 354,290.32

COST PER UNIT

Total Cost ₱99,500 ₱184,000 ₱ 354,290.32
EUP 89,000 96,920 120,000
₱ 1.12 ₱ 1.90 ₱ 2.95

TOTAL COST OF UNITS TRANSFERRED OUT

Beginning Work-In-Process * CPU ₱ 27,949.44 ₱ 28,477.09 ₱ 354,290.32
Started and Completed * CPU 71,550.56 121,502.27 ₱ -
Beginning Cost 172,000 32,900
₱ 271,500.00 ₱ 182,879.36 ₱ 354,290.32

TOTAL COST OF ENDING WORK-IN-PROCESS

Work-In-Process, end 0 17,920 0
CPU ₱ 1.12 ₱ 1.90 ₱ 2.95
₱ - ₱ 34,020.64 ₱ -

₱ 842,690

₱ 842,690
FINISHING DEPARTMENT
CC TI
74,500 74,500
85,050 94,500
159,550 169,000

₱ 32,900
47,300
₱ 80,200 ₱ 677,852.54

₱ 80,200 ₱ 677,852.54
159,550 169,000
₱ 0.50 ₱ 4.01

85,050 94,500
₱ 0.50 ₱ 4.01
₱ 42,751.55 ₱ 379,035.89

FINISHING DEPARTMENT
MATERIAL CC TI
90,000 90,000
0% 30%
0 27,000 0

74,500 74,500
90,000 90,000
-15,500 -15,500 0

94,500 94,500
 100% 90%
94,500 85,050 0

0 27,000 0
-15,500 -15,500 0
94,500 85,050 0
79,000 96,550 -

₱ 60,050 ₱ 47,300 ₱ 868,050.67

₱ 60,050 ₱ 47,300 ₱ 868,051

79,000 96,550 79,000
₱ 0.76 ₱ 0.49 ₱ 10.99

₱ - ₱ 13,227.34 ₱ 868,050.67
-11,781.96 -7,593.47 ₱ -
172,000 32,900
₱ 160,218.04 ₱ 38,533.87 ₱ 868,050.67 ₱ 1,066,802.58

94,500 85,050 0
₱ 0.76 ₱ 0.49 ₱ 10.99
₱ 71,831.96 ₱ 41,666.13 ₱ -

₱ 1,180,301

₱ 1,180,301

ASSEMBLY DEPARTMENT
EUP MATERIALS CC
Transferred Out 74,500 74,500
Add: Work-In-Process, end 94500 85,050
169,000 159,550

TOTAL COST
Beginning ₱ 172,000 ₱ 32,900
Add: Incurred 60,050 47,300
 ₱ 232,050 ₱ 80,200

COST PER UNIT

Total Cost ₱ 232,050 ₱ 80,200
Divide: EUP 169,000 159,550
₱ 1.37 ₱ 0.50

TOTAL COST OF UNITS TRANSFERRED OUT

Transferred Out 74,500
Multiply: Σ of Cost per Units ₱ 6.31
₱ 469,914.77

TOTAL COST OF ENDING WORK-IN 94500 85,050

Work-In-Process, end ₱ 1.37 ₱ 0.50
Multiply: Cost per Unit ₱ 129,755.77 ₱ 42,751.55

₱ 808,669.69
₱ 59,688.70
₱ 748,980.99

₱ 1,061,231

₱ 1,061,231
TI
74,500
94,500
169,000
₱ 748,981

₱ 748,981
169,000
₱ 4.43

94,500
₱ 4.43
₱ 418,808.90