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    PATRICIA CHUA
    This document summarizes the cost of production for Department 2 of Colgate Palmolive Philippines for the months of June 30, 20XX and July 31, 20XX using both the average method and FIFO method. It shows the flow of units, materials costs, conversion costs, and unit costs calculated for finished goods and work-in-process under each method.

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    Acc 104

    Uploaded by

    PATRICIA CHUA
    16 views12 pages
    This document summarizes the cost of production for Department 2 of Colgate Palmolive Philippines for the months of June 30, 20XX and July 31, 20XX using both the average method and FIFO method. It shows the flow of units, materials costs, conversion costs, and unit costs calculated for finished goods and work-in-process under each method.

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    This document summarizes the cost of production for Department 2 of Colgate Palmolive Philippines for the months of June 30, 20XX and July 31, 20XX using both the average method and FIFO method. It shows the flow of units, materials costs, conversion costs, and unit costs calculated for finished goods and work-in-process under each method.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    16 views12 pages

    Acc 104

    Uploaded by

    PATRICIA CHUA
    This document summarizes the cost of production for Department 2 of Colgate Palmolive Philippines for the months of June 30, 20XX and July 31, 20XX using both the average method and FIFO method. It shows the flow of units, materials costs, conversion costs, and unit costs calculated for finished goods and work-in-process under each method.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    of 12

    AVERAGE METHOD

    COLGATE PALMOLIVE PHILIPPINES


    COST OF PRODUCTION
    JUNE 30, 20XX

    DEPARTMENT 2

    Flow of Units & EUP:


    EUP
    Units Materials Conversion Cost Transferred In
    WIP, June 1 3600
    Started 9000
    Units to account 12600
    Finished & Transferred 10200 10,200.00 10,200.00 10,200.00
    WIP, June 30 2400 1,200.00 600.00 2,400.00
    Units as accounted 12600 11,400.00 10,800.00 12,600.00

    Total costs to account:


    Work in Process, beginning:
    Materials 4,050.00
    Conversion Cost 2,160.00
    Transferred in 12,330.00 18,540.00
    Costs added during the Period:
    Materials 14,784.00
    Conversion Cost 2,592.00
    Transferred in 8,460.00 25,836.00
    44,376.00

    Unit Cost per EUP 18,834/11,400 4,752/10,800 20,790/12,600


    1.65 0.44 1.65
    3.74
    Assignment of Costs
    Finished and Transferred (10,200 x 3.74) 38,169.47
    WIP, June 30:
    Materials (1,200 x 1.65) 1,982.53
    Conversion Cost (600 x 0.44) 264.00
    Transferred In (2,400 x 1.65) 3,960.00 6,206.53
    44,376.00

    FIFO METHOD
    COLGATE PALMOLIVE PHILIPPINES
    COST OF PRODUCTION
    JUNE 30, 20XX

    DEPARTMENT 2

    EUP
    Flow of Units Units Materials Conversion Cost Transferred in
    WIP, beg, 60% 3,600.00
    Started in Process 9,000.00
    Units to account 12,600.00

    F&T: WIP, beg 3,600.00 1,440.00 2,400.00 -


    Started & Complete 6,600.00 6,600.00 6,600.00 6,600.00
    WIP, end 2,400.00 1,200.00 600.00 2,400.00
    As accounted 12,600.00 9,240.00 9,600.00 9,000.00

    Total costs to account:


    Work in Process, beginning:
    Materials 4,050.00
    Conversion Cost 2,160.00
    Transferred in 12,330.00 18,540.00
    Costs added during the Period:
    Materials 14,784.00
    Conversion Cost 2,592.00
    Transferred in 8,460.00 25,836.00
    44,376.00

    Unit Cost Per EUP 14,784/9,240 2,592/98,400 8,640/9,000


    1.60 0.27 0.94
    2.81
    Assignment of Costs
    Beginning & Completed 18,540.00
    Materials (1,440 x 1.60) 2,304.00
    Conversion Cost (2,400 x 0.31) 648.00
    Transferred in - 2,952.00
    21,492.00

    Started & Completed (6,600 x 2.81) 18,546.00

    Ending
    Materials (1,200 x 1.60) 1,920.00
    Conversion Cost (600 x 0.31) 162.00
    Transferred in (2,400 x 0.94) 2,256.00 4,338.00
    44,376.00
    AVERAGE METHOD
    COLGATE PALMOLIVE PHILIPPINES
    COST OF PRODUCTION
    JULY 31, 20XX

    DEPARTMENT 2

    Flow of Units & EUP:


    EUP
    Units Materials Conversion Cost
    WIP, July 1 2,400.00
    Started 7,500.00
    Units to account 9,900.00
    Finished and Tranferred 7,200.00 7,200.00 7,200.00
    WIP, July 31 2,700.00 900.00 450.00
    Units as accounted 9,900.00 8,100.00 7,650.00

    Total costs to account:


    Work in Process, beginning:
    Materials 1,982.53
    Conversion Cost 264.00
    Transferred In 2,246.53 4,493.06
    Cost added during the Period:
    Materials 11,730.00
    Conversion Cost 3,384.00
    Transferred in 9,675.00 24,789.00
    29,282.06

    Unit Cost per EUP 13,712.53/8,100 3,648/7,650


    1.69 0.48

    Assignment of Costs
    Finished (7,200 x 3.37)
    WIP, July 31
    Materials (900 x 1.69) 1,523.61
    Conversion Cost (450 x 0.48) 214.59
    Trasferred (2,700 x 1.20) 3,251.33

    FIFO METHOD
    COLGATE PALMOLIVE PHILIPPINES
    COST OF PRODUCTION
    JUNE 30, 20XX

    DEPARTMENT 2

    EUP
    Flow of Units Units Materials Conversion Cost
    WIP, beg, 2,400.00
    Started in Process 7,500.00
    Units to account 9,900.00

    F&T: WIP, beg 2,400.00 1,200.00 1,800.00


    Started & Complete 4,800.00 4,800.00 4,800.00
    WIP, end 2,700.00 900.00 450.00
    As accounted 9,900.00 6,900.00 7,050.00

    Total costs to account:


    Work in Process, beginning:
    Materials 1,920.00
    Conversion Cost 162.00
    Transferred in 2,256.00 4,338.00
    Costs added during the period:
    Materials 11,730.00
    Conversion Cost 3,384.00
    Transferred 9,675.00 24,789.00
    29,127.00

    Unit Costs per EUP 11,730/6,900 3,384/7,050


    1.70 0.48

    Assignment of Costs
    Beginning & Completed 4,338.00
    Materials (1,200 x 1.70) 2,040.00
    Conversion Cost (1,800 x 0.48) 864.00
    Transferred (0 x 1.29) - 2,904.00
    7,242.00

    Started & Completed (4,800 x 3,47) 16,656.00

    Ending
    Materials (900 x 1.70) 1,530.00
    Conversion Cost (450 x 0.48) 216.00
    Transferred (2,700 x 1.29) 3,483.00 5,229.00
    29,127.00
    UP
    Transferred in

    7,200.00
    2,700.00
    9,900.00

    13,712.53

    11,921.53/9,900
    1.20
    3.37

    24,292.53

    4,989.53
    29,282.06
    UP
    Transferred in

    -
    4,800.00
    2,700.00
    7,500.00

    9,675/7,500
    1.29
    3.47
    CHAPTER 10
    MC - Theoretical MC - Computational
    1. b 1. d 12. a 23. b
    2. c 2. a 13. a 24. a
    3. b 3. a 14. a 25. a
    4. b 4. a 15. a 26. a
    5. b 5. a 16. a 27. a
    6. c 6. a 17. c 28. d
    7. c 7. a 18. b 29. a
    8. c 8. a 19. b 30. c
    9. c 9. a 20. b 31. d
    10. a 10. b 21. d 32. d
    11. d 11. a 22. a

    CHAPTER 11
    MC - Theoretical MC - Computational
    1. b 1. c 13. a 25. d 37. d
    2. d 2. b 14. a 26. a 38. c
    3. d 3. b 15. d 27. d 39. d
    4. b 4. b 16. a 28. c 40. c
    5. c 5. a 17. a 29. d 41. b
    6. c 6. a 18. a 30. c 42. b
    7. d 7. d 19. a 31. d 43. d
    8. d 8. b 20. a 32. a 44. a
    9. c 9. a 21. b 33. a 45. d
    10. a 10. a 22. b 34. b 46. d
    11. a 11. a 23. d 35. a
    12. b 12. a 24. d 36. a
    CHAPTER 12
    MC - Theoretical MC - Computational
    1. a 1. b 12. a 23. a 34. a
    2. c 2. d 13. a 24. a 35. a
    3. a 3. a 14. a 25. a 36. a
    4. b 4. d 15. a 26. d 37. a
    5. b 5. b 16. a 27. a 38. a
    6. a 6. d 17. b 28. a 39. d
    7. a 7. b 18. a 29. a 40. a
    8. b 19. a 30. a 41. d
    9. a 20. b 31. d 42. d
    10. a 21. a 32. a 43
    11. a 22. a 33. a 44. a

    CHAPTER 13
    MC - Theoretical MC - Computational
    1. b 1. d 13. a 25. c 37 49
    2. a 2. a 14. a 26. c 38 50
    3. c 3. b 15. a 27. c 39. b 51
    4. b 4. a 16. a 28. a 40. a 52
    5. a 5. c 17. a 29. a 41. a 53
    6. b 6. c 18. a 30. d 42. c 54
    7. d 7. c 19. a 31. c 43. b 55
    8. b 8. c 20. a 32. a 44. a 56
    9. a 9. b 21. b 33. a 45. a 57
    10. c 10. a 22. a 34 46. d 58
    11. b 23. a 35 47. a 59
    12. a 24. b 36 48 60
    61
    62
    63
    64
    65
    67
    68
    69

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