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Process - Costing FIFO

The document summarizes production and cost data for YouCanMakeIt Co., which produces fencing in two stages. In the cutting department, wood is cut and assembled into fence sections. These sections are then treated and coated in the coating department. Production data is provided for March 2010, including units started and completed, beginning and ending work in process inventories, and material and conversion costs for each department.

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Angela Miles Dizon
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390 views6 pages

Process - Costing FIFO

The document summarizes production and cost data for YouCanMakeIt Co., which produces fencing in two stages. In the cutting department, wood is cut and assembled into fence sections. These sections are then treated and coated in the coating department. Production data is provided for March 2010, including units started and completed, beginning and ending work in process inventories, and material and conversion costs for each department.

Uploaded by

Angela Miles Dizon
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd
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YouCanMakeIt Co. makes fencing in a 2-stage production system.

In the cutting Department wood is cut and assembled into 6


the sections are pressure-treated to resist the effects of weather and then coated with a preservative. The following productio

Units Cutting Department Coating Department Costs


BWIP 1,300.00 900.00 BWIP
Complete as to material 80% - Transferred in
Complete as to conversion 75% 60% Material
Units Started in March 4,800.00 ? Conversion
Units completed in March ? 4,500.00 Current
EWIP 1,100.00 ? Transferred in
Complete as to material 40% - Material
Complete as to conversion 20% 40% Conversion
s cut and assembled into 6-foot fence sections. In the Coating Department
ve. The following production and cost data are available for March 2010

Cutting Department Coating Department

N/A 11,840.00
8,345.00 -
7,720.00 1,674.00

N/A ?
35,200.00 4,950.00
21,225.00 11,300.00
Cutting Process

Units to be accounted for BWIP


BWIP 1,300.00 Started and completed
Units Started 4,800.00 EWIP
Total Units to be accounted for 6,100.00 Units accounted for

Units accounted for Cost per EUP


BWIP 1,300.00 Materials
Units started and completed 3,700.00 Conversion
Completed 5,000.00
EWIP 1,100.00
Total Units accounted for 6,100.00
Total Cost as accounted for
BWIP
Materials
Conversion
Started & completed
EWIP
Materials
Conversion
Total Cost to be accounted for
Pressure Process

Units to be accounted for BWIP


BWIP 900.00 Units started and completed
Transferred in units 5,000.00 EWIP
Total Units to be accounted for 5,900.00

Units accounted for Cost/EUP


BWIP 900.00
Units started and completed 3,600.00 Transferred In
Completed 4,500.00 Materials
EWIP 1,400.00 Conversion
Total Units accounted for 5,900.00

Total Cost as accounted for


BWIP
Transferred In
Materials
Conversion
Started & completed
EWIP
Transferred In
Materials
Conversion
Total Cost to be accounted for
EUP
Materials Conversion
1,300.00 260.00 325.00
3,700.00 3,700.00 3,700.00
1,100.00 440.00 220.00
4,400.00 4,245.00

Cost this month EUP Cost/EUP


35,200.00 4,400.00 8.00
21,225.00 4,245.00 5.00
13.00

16,065.00
260.00 8.00 2,080.00
325.00 5.00 1,625.00
3,700.00 13.00 48,100.00

440.00 8.00 3,520.00


220.00 5.00 1,100.00
72,490.00

Transferred In Materials Conversion


900.00 - 900.00 360.00
3,600.00 3,600.00 3,600.00 3,600.00
1,400.00 1,400.00 - 560.00
5,000.00 4,500.00 4,520.00

This month EUP Unit cost


67,870.00 5,000.00 13.57
4,950.00 4,500.00 1.10
11,300.00 4,520.00 2.50
84,120.00 17.17

13,514.00
- 13.57 -
900.00 1.10 990.00
360.00 2.50 900.00
3,600.00 17.17 61,826.40

1,400.00 13.57 19,003.60


- 1.10 -
560.00 2.50 1,400.00
97,634.00

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