Don’t Cry Over Spilled​ Milk, Inc., a manufacturer of​ mops, uses the weighted average method in...

2-- х Process Costing - Microsoft Excel (Product Activation Failed) File Home Insert Formulas Data Review View ♡ X Page Layout foc E29 А B F G H 1 1 с D E DON'T CRY OVER SPILLED MILK INC., WORKINGS AS PER WEIGHTED AVERAGE METHOD ASSEMBLY DEPARTMENT PRODUCTION COST REPORT 2 3 4 5 6 7 8 $ 3,712.00 $ 566,849.00 $ 570,561.00 $ 570,559.50 $ 1.50 9 10 11 Beginning Inventory Cost incurred in Current Period Total Costs to account for Total Costs accounted for *Difference due to rounding cost/unit Units Reconciliation Units to account for Beginning Work in Process Units started this period This units to account for Total units accounted for Completed and transferred out (Bal Fig) Ending Work in Process Total units accounted for 12 13 800 16,000 16,800 14 15 16 17 18 16,500 300 16,800 19 20 Equivalent Units of Production (EUP) 21 Units % MATERIALS EUP - MATERIALS % CONVERSION EUP - CONVERSION 22 23 Units Accounted For Transferred Out Ending Work in Process Total Units Accounted for 24 16,500 300 16,800 100% 60% 100% 16,500.00 180.00 16,680.00 100% 70% 100% 16,500.00 210.00 16,710.00 25 26 27 28 29 KI Sheet27 Sheet28 Sheet29 Sheet30 Sheet31 Sheet32 Sheet33 Sheet34 Sheet35 Sheet36 Ready BO! 100% 3:33 AM 23-Sep-20

х X- Process Costing - Microsoft Excel (Product Activation Failed) File Home Insert Formulas Page Layout Data Review View ♡ X E58 A F G H B C D E E Budgeted Overhead Rate per Unit = $ 400,000 / 100,000 machine hours = $ 4 per Machine Hour 30 31 COSTS PER EUP MATERIALS CONVERSION COSTS 32 33 34 $ 35 Cost of Beginning Work in Process Cost incurred in Current Year Total Costs / Equivalent Units Costs per Equivalent Unit of Production $ $ $ 36 1,296.00 47,076.00 48,372.00 16,680.00 2.90 Costs Costs EUP $ $ 2,416.00 519,773.00 522,189.00 16,710.00 31.25 37 EUP 38 $ $ 39 40 TOTAL COSTS ACCOUNTED FOR : 41 42 43 Transferred Out Materials Conversion Costs EUP Cost per EUP 16,500.00 $ 2.90 16,500.00 $ 31.25 $ $ Total Cost 47,850.00 515,625.00 44 45 Total Cost transferred out $ 563,475.00 46 47 48 Ending Work in Process Materials Conversion Costs Total Costs of ending Work in Process 180.00 $ 210.00 $ 2.90 $ 31.25 $ 522.00 6,562.50 49 50 $ $ 7,084.50 51 52 Total Costs accounted for $ 570,559.50 53 54 Ans : 1 The Cost to assemble one Map in June was $ 2.90 + $ 31.25 = $ 34.15 55 56 Ans : 2 Cost of Goods Completed and Transferred Out = $ 570,559.50 57 58 Ans : 3 The Conversion Cost included in Beginning WIP of July = $ 7,084.50 KM Sheet27 Sheet28 Sheet29 Sheet30_Sheet31 Sheet32_Sheet33 Sheet34 Sheet35 Ready Sheet36 BO 100% 3:34 AM 23-Sep-20

х Process Costing - Microsoft Excel (Product Activation Failed) File Home Insert Formulas Data Review View V X Page Layout foc E29 А B F G H 1 с D E DON'T CRY OVER SPILLED MILK INC., WORKINGS AS PER WEIGHTED AVERAGE METHOD ASSEMBLY DEPARTMENT PRODUCTION COST REPORT 2 3 4 5 6 7 8 9 10 11 Beginning Inventory 3712 Cost incurred in Current Period =47076+216213+(75890*4) Total Costs to account for =SUM(C5:06) Total Costs accounted for =+F52 *Difference due to rounding cost/unit =+C7-C8 Units Reconciliation Units to account for Beginning Work in Process 800 Units started this period 16000 This units to account for =SUM(C12:013) Total units accounted for Completed and transferred out (Bal Fig) =+C18-C17 Ending Work in Process 300 Total units accounted for =+C14 12 13 14 15 16 17 18 19 20 21 % MATERIALS EUP - MATERIALS % CONVERSION EUP - CONVERSION 22 Equivalent Units of Production (EUP) Units Units Accounted For Transferred Out =+C16 Ending Work in Process =+C17 Total Units Accounted for ESUM(C23:C24) 23 1 1 0.7 24 =+C23*D23 =+C24*D24 =SUM(E23: E24) 0.6 1 =+C23*F23 =+C24F24 =SUM(G23:624) 25 1 26 27 28 29 Sheet27 Sheet28 Sheet29 Sheet30 Sheet31 Sheet32 Sheet33 Sheet34 Sheet35 Sheet36 Ready BO 100% 3:35 AM 23-Sep-20

XI - 2-- Process Costing - Microsoft Excel (Product Activation Failed) х File Home Insert Page Layout Formulas Data Review View V X E58 А B с D E F G H 30 Budgeted Overhead Rate per Unit = $ 400, 31 32 COSTS PER EUP MATERIALS CONVERSION COSTS 33 34 35 36 37 Cost of Beginning Work in Process Cost incurred in Current Year Total Costs / Equivalent Units Costs per Equivalent Unit of Production Costs EUP 1296 47076 =SUM(E34: E35) =+E25 =+ROUND (E36/E37,2) Costs EUP =3712-1296 =216213+(75890*4) =SUM(G34:G35) =+G25 =+ROUND (G36/G37,2) 38 39 40 TOTAL COSTS ACCOUNTED FOR: 41 EUP 42 43 Transferred Out Materials =+E23 Conversion Costs =+G23 Total Cost transferred out Cost per EUP Total Cost =+E38 =++C43*D43 =+G38 =+C44*D44 44 45 =SUM(E43: E44) 46 47 48 Ending Work in Process Materials =+E24 Conversion Costs =+G24 Total Costs of ending Work in Process =+E38 =+G38 =+C48*D48 =+C49*D49 49 50 =SUM(E48:E49) 51 =+F45+F50 52 Total Costs accounted for 53 54 Ans : 1 The Cost to assemble one Map in June was 55 56 Ans : 2 Cost of Goods Completed and Transferred 57 58 Ans : 3 The Conversion Cost included in Beginnin KM Sheet27 Sheet28 Sheet29 Sheet30 Sheet31 Ready Sheet32 Sheet33 Sheet34 Sheet35 Sheet36 BO! 100% 3:35 AM 23-Sep-20