አርማ/logo፡ የተቋሙ ስም /Company Name፡ የሰነድ ቁጥር/Document No.
እንጦጦ ፖሊ ቴክኒክ ኮሌጅ
ENTOTO POLYTECHNIC COLLEGE OF/AD/012
ርዕስ/Title: እትም ቁጥር/Issue No.: ገጽ/Page No.:
ASSESSMENT FORM Page 1 of 5
01
ASSIGNMENT
UNIT CODE: LSA ACF4 07 1221
UNIT TITLE: PRODUCE JOB ORDER AND PROCESS COSTING SYSTEM
PROBLEM 1
C
These data relate to Tsehay Co.’s May 2024 operations:
PT
Material, Beginning $ 7,400 Material, Ending $ 9,000
WIP, Beginning 7,500 WIP, Ending 3,500
EN
Finished Goods, Beginning 10,000 Finished Goods, Ending 12,000
Material Used 46,800 Direct Labor 8,000
N
N
Selling and General Expenses 6,700
O
EK
Factory overhead is applied at the rate of 80% of direct labor cost.
IM
Required:
1. Calculate the cost of materials purchased
R
2. Prepare Schedule of Cost of goods manufactured
FE
3. Prepare Statement of Cost of goods sold.
TE
INSTRUCTOR IBRAHIM M.
2025
አርማ/logo፡ የተቋሙ ስም /Company Name፡ የሰነድ ቁጥር/Document No.:
እንጦጦ ፖሊ ቴክኒክ ኮሌጅ
ENTOTO POLYTECHNIC COLLEGE OF/AD/012
ርዕስ/Title: እትም ቁጥር/Issue No.: ገጽ/Page No.:
ASSESSMENT FORM Page 2 of 5
01
PROBLEM 2
Following are data Extracted from Ediget Pvt. Ltd. at the end of December 31st, 2024.
Sales BIR 14,000,500 Sales Return BIR 25,200
Net Purchase 2,400,000 Transportation Inward 32,000
C
Direct Labor 3,204,000 Factory Overhead 1,885,600
PT
Sales Salaries 200,000 Advertising expense 155,000
Delivery Expense 65,000
EN
N
N
During the year 25,000 units were completed.
Inventories December 31, 2024 January 1, 2024
O
EK
Finished Goods BIR 467,400, BIR 620,000
Work in Process 136,800, 129,800,
IM
Direct Materials 196,000 176,000
R
FE
Required:
1. Manufacturing costs incurred during 2024.
TE
2. Cost of Goods Manufactured
3. Cost of Goods Sold
4. Gross Profit and Net Profit
5. Per Unit Cost of Goods Manufactured
INSTRUCTOR IBRAHIM M.
2025
አርማ/logo፡ የተቋሙ ስም /Company Name፡ የሰነድ ቁጥር/Document No.:
እንጦጦ ፖሊ ቴክኒክ ኮሌጅ
ENTOTO POLYTECHNIC COLLEGE OF/AD/012
ርዕስ/Title: እትም ቁጥር/Issue No.: ገጽ/Page No.:
ASSESSMENT FORM Page 3 of 5
01
PROBLEM 3
Stewart Tables’ selected data for March 2024 are presented here (in millions):
Direct materials inventory, March 1, 2020 $ 90
Direct materials purchased 345
C
Direct materials used 365
PT
Total manufacturing overhead costs 485
Variable manufacturing overhead costs 270
EN
Total manufacturing costs incurred during March 2024 1,570
Work-in-process inventory, March 1, 2024
N 215
N
Cost of goods manufactured 1,640
O
Finished-goods inventory, March 1, 2024 160
EK
Cost of goods sold 1,740
IM
Required
R
Calculate the following costs:
FE
1. Direct materials inventory, March 31, 2024
2. Fixed manufacturing overhead costs for March 2024
TE
3. Direct manufacturing labor costs for March 2024
4. Work-in-process inventory, March 31, 2024
5. Cost of finished goods available for sale in March 2024
6. Finished goods inventory, March 31, 2024
INSTRUCTOR IBRAHIM M.
2025
አርማ/logo፡ የተቋሙ ስም /Company Name፡ የሰነድ ቁጥር/Document No.:
እንጦጦ ፖሊ ቴክኒክ ኮሌጅ
ENTOTO POLYTECHNIC COLLEGE OF/AD/012
ርዕስ/Title: እትም ቁጥር/Issue No.: ገጽ/Page No.:
ASSESSMENT FORM Page 4 of 5
01
PROBLEM 4 - Missing records, computing inventory costs.
Sam Wright recently took over as the controller of Osborn Brothers Manufacturing. Last month,
the previous controller left the company with little notice and left the accounting records in
disarray. Sam needs the ending inventory balances to report first-quarter numbers.
For the previous month (March 2024), Sam was able to piece together the following information:
C
Direct materials purchased $ 90,000
PT
Work-in-process inventory, March 1, 2024 $ 30,000
EN
Direct materials inventory, March 1, 2024 $ 13,500
Finished-goods inventory, March 1, 2024 $190,000
Conversion costs
N $340,000
N
Total manufacturing costs added during the period $400,000
O
EK
Cost of goods manufactured 5 times direct materials used
Gross margin as a percentage of revenues 30%
IM
Revenues $640,000
R
Required
FE
Calculate the cost of
1. Finished-goods inventory, March 31, 2024
TE
2. Work-in-process inventory, March 31, 2024
3. Direct materials inventory, March 31, 2024
INSTRUCTOR IBRAHIM M.
2025
አርማ/logo፡ የተቋሙ ስም /Company Name፡ የሰነድ ቁጥር/Document No.:
እንጦጦ ፖሊ ቴክኒክ ኮሌጅ
ENTOTO POLYTECHNIC COLLEGE OF/AD/012
ርዕስ/Title: እትም ቁጥር/Issue No.: ገጽ/Page No.:
ASSESSMENT FORM Page 5 of 5
01
PROBLEM 5 - Cost of goods manufactured, income statement, manufacturing company.
Consider the following account balances (in thousands) for the Peace Company:
Beginning of End of
2024 2024
C
Direct materials inventory 21,000 23,000
PT
Work-in-process inventory 26,000 25,000
Finished-goods inventory 13,000 20,000
EN
Purchases of direct materials 74,000
Direct manufacturing labor
N 22,000
N
Indirect manufacturing labor 17,000
O
Plant insurance 7,000
EK
Depreciation—plant, building, and equipment 11,000
IM
Repairs and maintenance—plant 3,000
Marketing, distribution, and customer-service costs 91,000
R
FE
General and administrative costs 24,000
TE
Required
1. Prepare a schedule for the cost of goods manufactured for 2024.
2. Revenues for 2020 were $310 million. Prepare the income statement for 2024.
N.B All assignments are due on Friday, June 13, 2025, by 9:00 A.M.
Assignments submitted after the deadline will automatically receive a grade
of zero.
INSTRUCTOR IBRAHIM M.
2025
