PROBLEM 1: Materials added at the end of the process

WIP, Beg (60% complete as to CC) 3,000

Completed 20,000
WIP, End (75% complete as to CC) 8,000

EUP for FIFO and W. Average?

FIFO METHOD
Units to account for:
WIP, Beg. 3,000
Started for the current period 25,000
28,000

Units accounted for:: MATERIALS

Started and completed -current period 17,000 17,000
Completed - WIP, Beg 3,000 3,000
WIP, End 8,000 0
28,000 20,000

WEIGHTED AVERAGE
MATERIALS
Started & Completed 20,000 20,000
WIP, End 8,000 0
28,000 20,000
 PROBLEM 2: Materials added at the 55% stage of completion

WIP, Beg (50% complete as to CC)

Completed
WIP, End (60% complete as to CC)

EUP for FIFO and W. Average?

FIFO METHOD
Units to account for:
WIP, Beg. 40,000
Started for the current period 225,000
265,000

CC Units accounted for::

17,000 Started and completed -current period 200,000
1,200 Completed - WIP, Beg 40,000
6000 WIP, End 25,000
24,200 265,000

WEIGHTED AVERAGE
CC
20,000 Started & Completed 240,000
6000 WIP, End 25,000
26,000 265,000
age of completion PROBLEM 3: materials added at the beginning

40,000 UNITS
240,000 WIP, beg
25,000 Started
Completed
WIP, End

COST
WIP, Beg
Total current CC
CC applied under to WIP, End

Question: Percentage of Completion as to CC on 5,000 units?

MATERIALS CC
200,000 200,000 FIFO METHOD
40,000 20,000.00 Units to account for:
25,000 15000 WIP, beg
265,000 235,000 Started

MATERIALS CC Units accounted for:

240,000 240,000 Started and completed -current period
25,000 15000 Completed - WIP, Beg
265,000 255,000 WIP, End

CC cost per unit need not be based on total EUP:

Conversion cost per unit

EUP for conversion cost

*Considering 3,344 is the EUP for the current period representing 33%** (3,344
percentage of completion as to conversikon cost on the beginning WIP is 67%**
**Rounded of
: materials added at the beginning Assuming a corporation manufactures only one product in which the r
material must pass through Processes A, B and C before completion.

5,000 Inventories of Process C and of Finished Goods, beg. were as follows:

110,000 Process C 1200 units, 2/3 completed
105,000 Finished Goods 1,000 units @ P3 per unit
3/5 complete as to CC
Other information:
2,000 units valued at P5,000 were transferred from Proces
1,500 Direct labor applied to Process C was P3,100
279,920 Overhead costs appleied to Process C were P3,200
15,360
Ending inventories:
Completion as to CC on 5,000 units? Process C 600 units
Finished goods 1,300 units

FIFO METHOD REQUIRED: VALUE OF PROCESS C - WIP, END

5,000
110,000 SOLUTION:
115,000 Units to account for:
WIP, Beg 1,200
EUP Units from Process B 2,000
100,000 100,000 3,200
5,000 3,343.75
10,000 6,000.00 Units accounted for: EUP
115,000 109,344 From WIP, Beg 1,200 400
Received and completed 1,400 1,400
ased on total EUP: End WIP 600 300
15,360 3,200 2100
2.56
6,000.00
COST
279,920 Beginning P4,200 is not considered, as this is irrelevant to the question
109,344
2.56 From preceding department 5,000 2.5
Direct labor 3,100
End WIP (6,000.00) Overhead cost 3,200 3
Completed (100,000.00) TOTAL COST OF WIP
Beg WIP EUP 3,344

for the current period representing 33%** (3,344/5,000)

o conversikon cost on the beginning WIP is 67%**
one product in which the raw
and C before completion.

ods, beg. were as follows:

, 2/3 completed P4,200
s @ P3 per unit

re transferred from Process B

was P3,100
ess C were P3,200

1/2 completed

s irrelevant to the question

1,500.00

900
2,400.00