A

Question 1(a) : Weighted Average method

2
3

Legrolass Ltd.

4
5

Data Input Section

6
7 Details
8 Beginning Work in Process

Units
60000

Percentage of Completion (%)

0.3
1
0.4

9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26

Completed and Transferred Out to Finished Goods Inventory

Ending Work in Process

170000
50000

Cost
Mixing Department

1110000

Finishing Department, July 1:

Direct Materials
Direct Labour
Overheads

900000
504000
=B17*150%

Finishing Department during July

Direct Materials
Direct Labour
Overheads

2880000
2580000
=B22*150%

Transferred-in cost per unit

23

27

Additional Information Section

28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57

Details
Beginning Work in Process:
Transferred-in
Direct Materials
Conversion Cost
Ending Work in Process:
Transferred-in
Direct Materials
Conversion Cost

Percentage Completed
1
=IF(C8>=25%,"100%","0%")
0.3

1
=IF(C10>=25%,"100%","0%")
0.4

*In the finishing department, materials are added only at 1 point, that is, when processing is 25% complete.
*Overhead is allocated on the basis of 150% of direct labour cost.

Output Section
Work in Process, July 1
Units Transferred in during July
Total units to account for

Physical Units
=B8
=B47-B45
=B52

Units Completed and Transferred out

Units completed and transferred out
Ending work in process
Total units accounted for

=B9
=B10
=B50+B51

Percentage of Completion
=C8

=C10

Beginning work in process

Cost incurred during July
Total cost to account for
58 Equivalent units for July only (/)
59 Cost per equivalent units
60
61
62
63
64
65
66
67
68

Cost of goods completed and transferred out of the Finishing Department during July
Completed and transferred out
Cost remaining in July 31 work-in-process inventory in the Finishing Department
Transferred-in
Direct Materials
Conversion Cost
Total cost accounted for

=B50*G59

=D51*D59
=E51*E59
=F51*F59

=B65+B66+B67
=C62+C67

Transferred-in

Direct Material

Conversion Cost

=B9
=B10
=D50+D51

=B9
=B10
=E50+E51

=B9
=C51*B51
=F50+F51

=B13
=B46*B25
=D55+D56
=D52
=D57/D58

=B16
=B21
=E55+E56
=E52
=E57/E58

=B17+B18
=B22+B23
=F55+F56
=F52
=F57/F58

Total

=D55+E55+F55
=D56+E56+F56
=G55+G56
=D59+E59+F59

A
1

Question 1(a) : FIFO method

2
3

Legrolass Ltd.

4
5

Data Input Section

6
7 Details
8 Beginning Work in Process

Units
60000

Percentage of Completion (%)

0.3
1
0.4

9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26

Completed and Transferred Out to Finished Goods Inventory

Ending Work in Process

170000
50000

Cost
Mixing Department

1110000

Finishing Department, July 1:

Direct Materials
Direct Labour
Overheads

900000
504000
=B17*150%

Finishing Department during July

Direct Materials
Direct Labour
Overheads

2880000
2580000
=B22*150%

Transferred-in cost per unit

23

27

Additional Information Section

28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43

Details
Beginning Work in Process:
Transferred-in
Direct Materials
Conversion Cost
Ending Work in Process:
Transferred-in
Direct Materials
Conversion Cost

Percentage Completed

Percentage yet to be Completed

1
=IF(C8>25%,"100%","0%")
0.3

0
0
0.7

1
=IF(C10>=25%,"100%","0%")
0.4

*In the finishing department, materials are added only at 1 point, that is, when processing is 25% complete.
*Overhead is allocated on the basis of 150% of direct labour cost.

Output Section

44
45 Work in Process, July 1
46 Units Transferred in during July

Physical Units
=B8
=B46-B44
=B52

47
48
49
50
51
52

=B44
=B9-B49
=B10
=B49+B50+B51

Transferred-in

Direct Material

Conversion Cost

0
=$C$50*$B$50
=B36*B51
=D49+D50+D51

0
=$C$50*$B$50
=B37*B51
=E49+E50+E51

=C33*B49
=$C$50*$B$50
=B38*B51
=F49+F50+F51

54
55 Cost
56 Beginning work in process
57 Cost incurred during July

0
=D52*B25

0
=B21

0
=B22+B23

58 Total cost to account for

59 Equivalent units for July only

=D52
=D56/D58

=E52
=E56/E58

=F52
=F56/F58

Total

Total units to account for

Units Completed and Transferred out

Beginning work in process
Units completed and transferred out
Ending work in process
53 Total units accounted for

60
61
62
63
64
65
66
67
68
69
70
71
72
73

Percentage of Completion
=C8

1
=C10

Cost per equivalent units (/)

Cost Assignment
Beginning work in process (BWIP)
Cost to complete BWIP
Total cost to complete BWIP

=G55
=(E49*E59)+(F49*F59)
=B62+B63
=D50*G59
=C64+C66

Completed and transferred out

Ending work in process (EWIP)
Transferred-in
Direct Materials
Conversion Cost

74 Total cost accounted for

=D51*D59
=E51*E59
=F51*F59
=B69+B70+B71
=C67+C72

=B13+B16+B17+B18
=D56+E56+F56
=G55+G56
=D59+E59+F59

A
1

Question 1(b) : Weighted Average method

2
3
4

Legrolass Ltd.

Data Input Section

6
7 Details
8 Beginning Work in Process

Units
60000

Percentage of Completion (%)

0.3
1
0.4

9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26

Completed and Transferred Out to Finished Goods Inventory

Ending Work in Process

170000
50000

Cost
Mixing Department

1110000

Finishing Department, July 1:

Direct Materials
Direct Labour
Overheads

900000
504000
=B17*150%

Finishing Department during July

Direct Materials
Direct Labour
Overheads

2880000
2580000
=B22*150%

Transferred-in cost per unit

23

27

Additional Information Section

28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60

Details
Beginning Work in Process:
Transferred-in
Direct Materials
Conversion Cost

Percentage Completed
1
=IF(C8>=25%,"100%","0%")
0.3

Ending Work in Process:

Transferred-in
Direct Materials
Conversion Cost

1
=IF(C10>=25%,"100%","0%")
0.4

Conversion cost

=(B22+B23)*125%

*In the finishing department, materials are added only at 1 point, that is, when processing is 25% complete.
*Overhead is allocated on the basis of 150% of direct labour cost.
*Conversion costs of Finishing Department in the current month increased by 25%.

Output Section
Work in Process, July 1
Units Transferred in during July
Total units to account for

Physical Units
=B8
=B50-B48
=B55

Units Completed and Transferred out

Units completed and transferred out
Ending work in process
Total units accounted for

=B9
=B10
=B53+B54

Percentage of Completion
=C8

=C10

Cost
Beginning work in process
Cost incurred during July
Total cost to account for
61 Equivalent units for July only (/)
62 Cost per equivalent units
63
64
65
66
67
68
69
70
71

Cost of goods completed and transferred out of the Finishing Department during July
Completed and transferred out

=B53*G62

Cost remaining in July 31 work-in-process inventory in the Finishing Department

Transferred-in
=D54*D62
Direct Materials
=E54*E62
Conversion Cost
=F54*F62
Total cost accounted for

=B68+B69+B70
=C65+C70

Transferred-in

Direct Material

Conversion Cost

=B9
=B10
=D53+D54

=B9
=B10
=E53+E54

=B9
=C54*B54
=F53+F54

=B13
=B49*B25
=D58+D59
=D55
=D60/D61

=B16
=B21
=E58+E59
=E55
=E60/E61

=B17+B18
=B40
=F58+F59
=F55
=F60/F61

Total

=D58+E58+F58
=D59+E59+F59
=G58+G59
=D62+E62+F62

A
1

Question 1(b) : FIFO method

2
3

Legrolass Ltd.

4
5

Data Input Section

6
7 Details
8 Beginning Work in Process

Units

Percentage of Completion (%)

Completed and Transferred Out to

9 Finished Goods Inventory
10 Ending Work in Process
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46

30%

170,000
50,000

100%
40%

Cost
Mixing Department

1,110,000.00

Finishing Department, July 1:

Direct Materials
Direct Labour
Overheads

$
$
$

900,000.00
504,000.00
756,000.00

Finishing Department during July

Direct Materials
Direct Labour
Overheads

$
$
$

2,880,000.00
2,580,000.00
3,870,000.00

Transferred-in cost per unit

23.00

Conversion Cost for the month

8,062,500.00

Additional Information Section

Details
Beginning Work in Process:
Transferred-in
Direct Materials
Conversion Cost

Percentage Completed

Percentage Yet to be Completed

100%
100%
30%

Ending Work in Process:

Transferred-in
Direct Materials
Conversion Cost

0%
0%
70%

100%
100%
40%

*In the finishing department, materials are added only at 1 point, that is, when processing is 25% complete.
*Overhead is allocated on the basis of 150% of direct labour cost.
*Conversion costs of Finishing Department in the current month increased by 25%.

Output Section

47
48 Beginning work in process (BWIP)
49 Transferred-in
50 Total units to account for
51
52
53
54
55
56

60,000

Physical Units

Percentage of Completion
60,000
160,000
220,000

Units Completed and Transferred out

Beginning work in process
Units completed and transferred out
Ending work in process
Total units accounted for

Transferred-in

60,000
110,000
50,000
220,000

Cost
Beginning work in process
Cost incurred during July
Total cost to account for
62 Equivalent units for July only
63 Cost per equivalent units
Cost Assignment
Beginning work in process (BWIP)
Cost to complete BWIP
Total cost to complete BWIP

$
$

3,270,000.00
1,968,750.00

Completed and transferred out

Ending work in process (EWIP)
Transferred-in
Direct Materials
Conversion Cost

$
$
$

0
110,000
50000
160,000

100%
40%

57
58
59
60
61

64
65
66
67
68
69
70
71
72
73
74
75
76
77

Direct Material

Conversion Cost

Total

30%

5,238,750.00

$
$

9,666,250.00
14,905,000.00

$
$

2,987,500.00
17,892,500.00

1,150,000.00
900,000.00
937,500.00

0
110,000
50000
160,000

0
3,680,000.00 $

0
2,880,000.00 $

160,000
23.00 $

160,000
18.00 $

42000
110,000
20000
172,000

0 $
8,062,500.00 $
$
172,000
46.88 $

3,270,000.00
14,622,500.00
17,892,500.00
87.88