� There was no stock of raw materials or work-in-progress at the beginning or at the end of the month. Exercise F2-4 a. My friends are so mad that they do not know how I have all the high Puzzle Clues Exercises Problems Cases Item L.O. P � : l a�Qyt�gP 6 7 N P Q o c T T $dh $If a$gd�gP dh $If gd�gP � kd�: $$If �l � � �F ��~#�� �6 �| Substitute this amount in Department 2 WIP and solve for conversion costs. eBook includes PDF, ePub and Kindle version. process costing questions solutions accounting principles (9th edition) jerry weygandt paul kimmel donald kieso 958 chapter 21 process costing 23. dipak co. U u � Otherwise, there is no way that costs could be assigned to both. t ��0 � � � � � � � 6� � � � �� � � �� � � �� � � �4� 4� r State the � b The Bharat Manufacturing Company’s product passes through two distinct processes, X and Y, and then to the finished stock. � � &4A,�e��X�w1�`3y��� ` so many fake sites. PROCESS COSTING 17-1 Industries using process costing in their manufacturing area include chemical processing, oil refining, pharmaceuticals, plastics, brick and tile manufacturing, semiconductor chips, beverages, and breakfast cereals. � 3. We have been operating under the assumption that the cost to make a jacket is $75. Copyright 10. S 340,000 units were transferred to department Y during the month. l a�Qyt�gP % & 3 4 6 o c T T $dh $If a$gd�gP dh $If gd�gP � kd�9 $$If �l � � �F ��~#�� �6 �| � In this article we will discuss about the top five problems on process costing with their relevant solutions. r Discuss the treatment of process loss and gains in cost accounting. Unit costs are computed by homogeneous and repetitively produced. In … � R 1 2 x � P Q � � � � � � � � � � � � � � � � � � � � � � $$If a$gd�gP $a$gd�� �����d� ^��`���gd�N� �hd� ^�hgd�N� gd�� 2 $$d %d &d 'd -D M� � { , Materials: Completed and transferred out 9,150 Ending work-in-process inventory (2,000 ( 100%) 2,000 Total equivalent units 11,150 Conversion: Completed and transferred out 9,150 Ending work-in-process inventory (2,000 ( 30%) 600 Total equivalent units 9,750 c. MaterialsConversionBeginning inventory, Sep. 1$1,300$ 1,250Added to production 13,195 32,875 Total materials cost$14,495$34,125Equivalent units( 11,150( 9,750Materials cost per EU $1.30 $3.50 Materials (2,000 ( $1.30) $2,600 Conversion (600 ( $3.50) 2,100 Total $4,700 d. 9,150 pennants ( ($1.30 + 3.50) = $43,920 e. UnitsCostsWIP, Sep. 11,000$2,550Started into production10,150 46,070Total units to be accounted for11,150$48,620Transferred to Silk-screening9,150$43,920WIP, Sep. 30 2,000 4,700Total accounted for11,150$48,620 Problem F2-10 a. ��[D��q��n�)���P��7Ee�5(`�t�j��]Z~�I��ߊ܋�:�7������{)��"��o4w��T�蠈yD�D ���)�L���@�������Xq�=��������K�v�K4�݀X�B�Էֹ. T Problem 1 (a): equivalent units in process costing – weighted average vs FIFO: On April 1, 2020, The Proton Company had 40,000 units in its work in process inventory, 100% complete with respect to materials and 20% complete with respect to conversion costs. File Name: Process Costing Problems And Solutions.pdf Size: 6542 KB Type: PDF, ePub, eBook: Category: Book Uploaded: 2020 Nov 19, 05:28 Rating: 4.6/5 from 750 votes. � During April, 320,000 units were started in Department X. �~������ZkS�Z(=3D��Y���bI'��3����hZ����E�4���1���^|Sk��^(�7P��`$�f�ݤo ����*YD�*���9��f��=M�K1w��E��m�`9�Px���g0$Ύ���r$�Wo��٧e���[K}T�%Ȅ�*���:X��F���Y�a�Jk��ӵ�P�#R�PP,�T �˿�{� v��k?�M��E��K�5y��f% C�&�)7��"b�� � � � � We may be pleasantly surprised to learn that our competitors� prices are in the $150 range, so customers will be willing to pay $148.63. During the month of December 1992, the following information was obtained: Production Overhead is absorbed by processes at a percentage of direct wages. � � � � � � � � � � � � � � � � � � � � � � � � $If gd� $If gdQ$! It is ascertained that in each process normally 5% of the total weight is lost and 10% is scrap which from processes A and B realizes Rs.80 per ton and Rs.200 per ton, respectively: The following are the figures relating to both the processes: Prepare Process Accounts showing cost per ton of each process. t ��0 � � � � � � � 6� � � � �� � � �� � � �� � � �4� 4� 1. � �L(ү&FΈ}���G��ż�_30����ִ Identify the kinds of companies that use process costing systems. Residue of process C was sold for Rs.166. � Completed and transferred out 48,000 Ending work-in-process inventory (5,000 ( 100%) 5,000 Total equivalent units, materials 53,000 c. Completed and transferred out 48,000 Ending work-in-process inventory (5,000 ( 80%) 4,000 Total equivalent units, conversion 52,000 Exercise F2-6 a. MaterialsBeginning inventory, April 1$11,000Added to production 66,380 Total materials cost$77,380Equivalent units( 53,000Materials cost per EU $1.46 b. ConversionBeginning inventory, April 1$ 17,160Added to production 104,000 Total materials cost$121,160Equivalent units( 52,000Conversion cost per EU $2.33 c. 48,000 units ( ($1.46 + 2.33) = $181,920 d. Materials (5,000 EU ( $1.46) $7,300 Conversion (4,000 EU ( $2.33) 9,320 Total $16,620 Exercise F2-7 a. ��̾������un]V]V]V]V]V]V]V]V]V]V� hELO h~B� h�gP h~B� CJ OJ QJ ^J aJ h�5� h~B� h�gP h~B� 5�OJ QJ ^J #h�5� h~B� 5�CJ OJ QJ ^J aJ h~B� CJ OJ QJ ^J aJ h�N� h~B� OJ QJ ^J h�X� h~B� 5�OJ QJ ^J h~B� CJ OJ QJ ^J aJ #h�5� h~B� 5�CJ OJ QJ ^J aJ #h& � h~B� 5�CJ OJ QJ ^J aJ h~B� 5�CJ OJ QJ ^J aJ ! � r State the meaning of Process and Operation Costing. � � Please feel free to check your answer here. � � Content Guidelines 2. � As far as I can tell, everything is operating as it should. Academy Almanac Exam Papers News Blog Contact . � d 5 � � � � � � � � � � � � � � � � � � � � � � � � Ff�% $If gd� $If gd�� $If gdQ$! 5 � In order to read or download Process Costing Problems And Solutions ebook, Then solve WIP Department 1 and Raw Materials Inventory. Grinding requires the greatest amount of material and conversion cost. 3 0 obj For example, if 100 tennis balls were 40% complete, then it is as if 40 tennis balls were completed. Bloom 1 1 F2-1 1 F2-8 2 F2-11 2, 3, 4 2 2 F2-2 2 F2-9 3, 4 3 3 F2-3 2 F2-10 3, 4 4 3 F2-4 3 5 4 F2-5 3 6 4 F2-6 4 F2-7 4 SOLUTIONS TO PUZZLE CLUES. � A process costing system should be used in situations where a homogeneous product is produced on a continuous basis. � � b� ۏ ߏ b� b� � � � � � j� j� j� b� p � � � � � j� b� � j� j� J �� \ � � I� � �� �(���� �� ґ � �� B �� L 4 0 d 7� ~ f� p ~ � I� I� ~ � c� 4 � L Y� 6 j� �� , �� � � � � ֒ � � � � d b� b� b� b� �� �� �� � � � � � � ���� Focus on Process Costing Learning Objectives 1.