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A B C D E F G

1 Question 1(a) : Weighted Average method


2

3 Legrolass Ltd.
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5 Data Input Section


6
7 Details Units Percentage of Completion (%)
8 Beginning Work in Process 60,000 30%
9
Completed and Transferred Out to Finished
Goods Inventory 170,000 100%
10 Ending Work in Process 50,000 40%
11
12 Cost
13 Mixing Department $ 1,110,000.00
14
15 Finishing Department, July 1:
16 Direct Materials $ 900,000.00
17 Direct Labour $ 504,000.00
18 Overheads $ 756,000.00
19
20 Finishing Department during July
21 Direct Materials $ 2,880,000.00
22 Direct Labour $ 2,580,000.00
23 Overheads $ 3,870,000.00
24
25 Transferred-in cost per unit $ 23.00
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27 Additional Information Section


28
29 Details Percentage Completed
30 Beginning Work in Process:
31 Transferred-in 100%
32 Direct Materials 100%
33 Conversion Cost 30%
34
35 Ending Work in Process:
36 Transferred-in 100%
37 Direct Materials 100%
38 Conversion Cost 40%
39
40 *In the finishing department, materials are added only at 1 point, that is, when processing is 25% complete.
41 *Overhead is allocated on the basis of 150% of direct labour cost.
42

43 Output Section
44 Physical Units Percentage of Completion Transferred-in Direct Material Conversion Cost Total
45 Work in Process, July 1 60,000 30%
46 Units Transferred in during July 160000
47 Total units to account for 220000
48
49 Units Completed and Transferred out
50 Units completed and transferred out 170,000 170,000 170,000 170,000
51 Ending work in process 50,000 40% 50,000 50,000 20000
52 Total units accounted for 220000 220000 220000 190000
53
54
55 Beginning work in process $ 1,110,000.00 $ 900,000.00 $ 1,260,000.00 $ 3,270,000.00
56 Cost incurred during July $ 3,680,000.00 $ 2,880,000.00 $ 6,450,000.00 $ 13,010,000.00
57 Total cost to account for $ 4,790,000.00 $ 3,780,000.00 $ 7,710,000.00 $ 16,280,000.00
58 Equivalent units for July only (/) 220000 220000 190000
59 Cost per equivalent units $ 21.77 $ 17.18 $ 40.58 $ 79.53
60
61 Cost of goods completed and transferred out of the Finishing Department during July
62 Completed and transferred out $ 13,520,693.78
63
64 Cost remaining in July 31 work-in-process inventory in the Finishing Department
65 Transferred-in $ 1,088,636.36
66 Direct Materials $ 859,090.91
67 Conversion Cost $ 811,578.95 $ 2,759,306.22
68 Total cost accounted for $ 16,280,000.00
A B C D E F G
1 Question 1(a) : FIFO method
2

3 Legrolass Ltd.
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5 Data Input Section


6
7 Details Units Percentage of Completion (%)
8 Beginning Work in Process 60,000 30%
9
Completed and Transferred Out to
Finished Goods Inventory 170,000 100%
10 Ending Work in Process 50,000 40%
11
12 Cost
13 Mixing Department $ 1,110,000.00
14
15 Finishing Department, July 1:
16 Direct Materials $ 900,000.00
17 Direct Labour $ 504,000.00
18 Overheads $ 756,000.00
19
20 Finishing Department during July
21 Direct Materials $ 2,880,000.00
22 Direct Labour $ 2,580,000.00
23 Overheads $ 3,870,000.00
24
25 Transferred-in cost per unit $ 23.00
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27 Additional Information Section


28
29 Details Percentage Completed Percentage yet to be Completed
30 Beginning Work in Process:
31 Transferred-in 100% 0%
32 Direct Materials 100% 0%
33 Conversion Cost 30% 70%
34
35 Ending Work in Process:
36 Transferred-in 100%
37 Direct Materials 100%
38 Conversion Cost 40%
39
40 *In the finishing department, materials are added only at 1 point, that is, when processing is 25% complete.
41 *Overhead is allocated on the basis of 150% of direct labour cost.
42

43 Output Section Physical Units Percentage of Completion Transferred-in Direct Material Conversion Cost Total
44 60,000 30%
45 Work in Process, July 1 160,000
46 Units Transferred in during July 220,000
47 Total units to account for
48
49 Units Completed and Transferred out 60,000 0 0 42000
50 Beginning work in process 110,000 100% 110000 110000 110000
51 Units completed and transferred out 50,000 40% 50000 50000 20000
52 Ending work in process 220,000 160000 160000 172000
53 Total units accounted for
54
55 Cost 0 0 0 $ 3,270,000.00
56 Beginning work in process $ 3,680,000.00 $ 2,880,000.00 $ 6,450,000.00 $ 13,010,000.00
57 Cost incurred during July $ 16,280,000.00
58 Total cost to account for 160000 160000 172000
59 Equivalent units for July only $ 23.00 $ 18.00 $ 37.50 $ 78.50
60 Cost per equivalent units (/)
61
62 Cost Assignment $ 3,270,000.00
63 Beginning work in process (BWIP) $ 1,575,000.00
64 Cost to complete BWIP $ 4,845,000.00
65 Total cost to complete BWIP
66 $ 8,635,000.00
67 Completed and transferred out $ 13,480,000.00
68
69 Ending work in process (EWIP) $ 1,150,000.00
70 Transferred-in $ 900,000.00
71 Direct Materials $ 750,000.00
72 Conversion Cost $ 2,800,000.00
73 $ 16,280,000.00
74 Total cost accounted for
A B C D E F G
1 Question 1(b) : Weighted Average method
2

3 Legrolass Ltd.
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5 Data Input Section


6
7 Details Units Percentage of Completion (%)
8 Beginning Work in Process 60,000 30%
9
Completed and Transferred Out to
Finished Goods Inventory 170,000 100%
10 Ending Work in Process 50,000 40%
11
12 Cost
13 Mixing Department $ 1,110,000.00
14
15 Finishing Department, July 1:
16 Direct Materials $ 900,000.00
17 Direct Labour $ 504,000.00
18 Overheads $ 756,000.00
19
20 Finishing Department during July
21 Direct Materials $ 2,880,000.00
22 Direct Labour $ 2,580,000.00
23 Overheads $ 3,870,000.00
24
25 Transferred-in cost per unit $ 23.00
26

27 Additional Information Section


28
29 Details Percentage Completed
30 Beginning Work in Process:
31 Transferred-in 100%
32 Direct Materials 100%
33 Conversion Cost 30%
34
35 Ending Work in Process:
36 Transferred-in 100%
37 Direct Materials 100%
38 Conversion Cost 40%
39
40 Conversion cost $ 8,062,500.00
41
42 *In the finishing department, materials are added only at 1 point, that is, when processing is 25% complete.
43 *Overhead is allocated on the basis of 150% of direct labour cost.
44 *Conversion costs of Finishing Department in the current month increased by 25%.
45

46 Output Section
47 Physical Units Percentage of Completion Transferred-in Direct Material Conversion Cost Total
48 Work in Process, July 1 60,000 30%
49 Units Transferred in during July 160000
50 Total units to account for 220000
51
52 Units Completed and Transferred out
53 Units completed and transferred out 170,000 170,000 170,000 170,000
54 Ending work in process 50,000 40% 50,000 50,000 20000
55 Total units accounted for 220000 220000 220000 190000
56
57 Cost
58 Beginning work in process $ 1,110,000.00 $ 900,000.00 $ 1,260,000.00 $ 3,270,000.00
59 Cost incurred during July $ 3,680,000.00 $ 2,880,000.00 $ 8,062,500.00 $ 14,622,500.00
60 Total cost to account for $ 4,790,000.00 $ 3,780,000.00 $ 9,322,500.00 $ 17,892,500.00
61 Equivalent units for July only (/) 220000 220000 190000
62 Cost per equivalent units $ 21.77 $ 17.18 $ 49.07 $ 88.02
63
64 Cost of goods completed and transferred out of the Finishing Department during July
65 Completed and transferred out $ 14,963,456.94
66
67 Cost remaining in July 31 work-in-process inventory in the Finishing Department
68 Transferred-in $ 1,088,636.36
69 Direct Materials $ 859,090.91
70 Conversion Cost $ 981,315.79 $ 2,929,043.06
71 Total cost accounted for $ 17,892,500.00
A B C D E F G
1 Question 1(b) : FIFO method
2

3 Legrolass Ltd.
4

5 Data Input Section


6
7 Details Units Percentage of Completion (%)
8 Beginning Work in Process 60,000 30%
9
Completed and Transferred Out to
Finished Goods Inventory 170,000 100%
10 Ending Work in Process 50,000 40%
11
12 Cost
13 Mixing Department $ 1,110,000.00
14
15 Finishing Department, July 1:
16 Direct Materials $ 900,000.00
17 Direct Labour $ 504,000.00
18 Overheads $ 756,000.00
19
20 Finishing Department during July
21 Direct Materials $ 2,880,000.00
22 Direct Labour $ 2,580,000.00
23 Overheads $ 3,870,000.00
24
25 Transferred-in cost per unit $ 23.00
26
27 Conversion Cost for the month $ 8,062,500.00
28

29 Additional Information Section


30
31 Details Percentage Completed Percentage Yet to be Completed
32 Beginning Work in Process:
33 Transferred-in 100% 0%
34 Direct Materials 100% 0%
35 Conversion Cost 30% 70%
36
37 Ending Work in Process:
38 Transferred-in 100%
39 Direct Materials 100%
40 Conversion Cost 40%
41
42 *In the finishing department, materials are added only at 1 point, that is, when processing is 25% complete.
43 *Overhead is allocated on the basis of 150% of direct labour cost.
44 *Conversion costs of Finishing Department in the current month increased by 25%.
45

46 Output Section
47 Physical Units Percentage of Completion Transferred-in Direct Material Conversion Cost Total
48 Beginning work in process (BWIP) 60,000 30%
49 Transferred-in 160,000
50 Total units to account for 220,000
51
52 Units Completed and Transferred out
53 Beginning work in process 60,000 0 0 42000
54 Units completed and transferred out 110,000 100% 110,000 110,000 110,000
55 Ending work in process 50,000 40% 50000 50000 20000
56 Total units accounted for 220,000 160,000 160,000 172,000
57
58 Cost
59 Beginning work in process 0 0 0 $ 3,270,000.00
60 Cost incurred during July $ 3,680,000.00 $ 2,880,000.00 $ 8,062,500.00 $ 14,622,500.00
61 Total cost to account for $ 17,892,500.00
62 Equivalent units for July only 160,000 160,000 172,000
63 Cost per equivalent units $ 23.00 $ 18.00 $ 46.88 $ 87.88
64
65 Cost Assignment
66 Beginning work in process (BWIP) $ 3,270,000.00
67 Cost to complete BWIP $ 1,968,750.00
68 Total cost to complete BWIP $ 5,238,750.00
69
70 Completed and transferred out $ 9,666,250.00
71 $ 14,905,000.00
72 Ending work in process (EWIP)
73 Transferred-in $ 1,150,000.00
74 Direct Materials $ 900,000.00
75 Conversion Cost $ 937,500.00
76 $ 2,987,500.00
77 $ 17,892,500.00