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Cost Reconciliation & Flow Analysis

The document contains costing information for two products: Standard and Premium. It includes details on the physical flow of units, cost per equivalent unit, and a cost reconciliation schedule for each product. The physical flow shows beginning work in process (WIP), units transferred in, units completed, and ending WIP. The cost per equivalent unit section calculates the cost incurred and cost per unit for direct material and conversion. The cost reconciliation schedule accounts for beginning WIP costs, costs of units transferred in, and costs accounted for through completed units and ending WIP.

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zayyoda1799
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28 views2 pages

Cost Reconciliation & Flow Analysis

The document contains costing information for two products: Standard and Premium. It includes details on the physical flow of units, cost per equivalent unit, and a cost reconciliation schedule for each product. The physical flow shows beginning work in process (WIP), units transferred in, units completed, and ending WIP. The cost per equivalent unit section calculates the cost incurred and cost per unit for direct material and conversion. The cost reconciliation schedule accounts for beginning WIP costs, costs of units transferred in, and costs accounted for through completed units and ending WIP.

Uploaded by

zayyoda1799
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd

Standard

1 - physical flow of unit&equ. Uints units Direct material Conversion


* units to be accounted for
beginning WIP 400
units transferred in 1,600
total 2,000
* units accounted for
[Link] 400 0 120
units completed 1,100 1,100 1,100
[Link] 500 500 150
total 2,000 1,600 1,370

2- cost per equivalent unit


cost at the beginning $17,400.00 $0.00 $0.00
cost incurred $131,580.00 $57,600.00 $73,980.00
total $148,980.00 $57,600.00 $73,980.00
cost per equivalent unit $36.00 $54.00 total $90.00

3- cost reconciliation schedule


* Costs to be accounted for
beginning WIP $17,400.00
units transferred in $131,580.00
total $148,980.00
* Costs accounted for
[Link] $23,880.00 $0.00 $6,480.00
units completed $99,000.00 $39,600.00 $59,400.00
[Link] $26,100.00 $18,000.00 $8,100.00
total $148,980.00
Premium
1 - physical flow of unit&equ. Uints units Direct material Conversion
* units to be accounted for
beginning WIP 100
units transferred in 900
total 1,000
* units accounted for
[Link] 100 0 25
units completed 700 700 700
[Link] 200 200 80
total 1,000 900 805

2- cost per equivalent unit


cost at the beginning $8,000.00 $0.00 $0.00
cost incurred $139,475.00 $63,000.00 $76,475.00
total $147,475.00 $63,000.00 $76,475.00
cost per equivalent unit $70.00 $95.00 total $165.00

3- cost reconciliation schedule


* Costs to be accounted for
beginning WIP $8,000.00
units transferred in $139,475.00
total $147,475.00
* Costs accounted for
[Link] $10,375.00 $0.00 $2,375.00
units completed $115,500.00 $49,000.00 $66,500.00
[Link] $21,600.00 $14,000.00 $7,600.00
total $147,475.00

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