Guerrero Answer Key
Guerrero Answer Key
Guerrero Answer Key
Honey Corporation
Cost of Production Report - Refining Department
Jan-14
QUANTITY SCHEDULE:
Actual
Beginning Work in Process 10000
Started units 75000
Total units to account for 85000
Total Materials
Units transferred out 73000 73000
Ending Work in Process 12000 12000
Total units to be accounted for 85000 85000
COST SCHEDULE
Total Materials
Beginning Work in Process 103,900.00 64,000.00
Current month costs 1,016,720.00 616,000.00
Total costs to account for 1,120,620.00 680,000.00
PROBLEM 11-2
Name of Company
Cost of Production Report - Processing Department (D2)
Apr-14
QUANTITY SCHEDULE:
Actual
Beginning Work in Process 1000
Started units 6000
Total units to account for 7000
Total Transferred in
Units transferred out 6500 6500
Ending Work in Process 500 500
Total units to be accounted for 7000 7000
COST SCHEDULE
Total Transferred in
Beginning Work in Process 175,380.00 120,000.00
Current month costs 1,016,388.00 732,000.00
Total costs to account for 1,191,768.00 852,000.00
Ace Company
Cost of Production Report - First department
Jun-14
QUANTITY SCHEDULE:
Actual
Beginning Work in Process 10000
Started units 104000
Total units to account for 114000
Total Materials
Units transferred out 106000 106000
Ending Work in Process 8000 8000
Total units to be accounted for 114000 114000
COST SCHEDULE
Total Materials
Beginning Work in Process 134,000.00 80,000.00
Current month costs 1,323,724.00 832,000.00
Total costs to account for 1,457,724.00 912,000.00
PROBLEM 11-4
Tan Company
Cost of Production Report - Shaping Department (D2)
Oct-14
QUANTITY SCHEDULE:
Actual
Beginning Work in Process 3000
Started units 7500
Total units to account for 10500
Total Transferred in
Units transferred out 8500 8500
Ending Work in Process 2000 2000
Total units to be accounted for 10500 10500
COST SCHEDULE
Total Transferred in
Beginning Work in Process 145,900.00 62,000.00
Current month costs 562,400.00 253,000.00
Total costs to account for 708,300.00 315,000.00
Journal Entry:
Work in process - Finishing 601,800.00
Work in process - Shaping 601,800.00
PROBLEM 11-5
Malakas Corporation
Cost of Production Report - Assembling Department (D2)
Jun-14
QUANTITY SCHEDULE:
Actual
Beginning Work in Process 2000
Started units 10000
Total units to account for 12000
Total Transferred in
Units transferred out 8000 8000
Ending Work in Process 4000 4000
Total units to be accounted for 12000 12000
COST SCHEDULE
Total Transferred in
Beginning Work in Process 64,700.00 32,000.00
Current month costs 310,000.00 160,000.00
Total costs to account for 374,700.00 192,000.00
PROBLEM 11-6
Ka Louie Company
Cost of Production Report - Mixing Department (D1)
May-14
QUANTITY SCHEDULE:
Actual
Beginning Work in Process 8000
Started units 104000
Total units to account for 112000
Total Materials
Units transferred out 75000 75000
Ending Work in Process 9000 9000
Total units to be accounted for 112000 84000
COST SCHEDULE
Total Materials
Beginning Work in Process 5,700.00 1,680.00
Current month costs 50,640.00 18,480.00
Total costs to account for 56,340.00 20,160.00
Journal Entry:
Work in Process - Bottling 51,750.00
Work in Process - Mixing 51,750.00
Ka Louie Company
Cost of Production Report - Bottling Department (D2)
May-14
QUANTITY SCHEDULE:
Actual
Beginning Work in Process 8000
Started units 75000
Total units to account for 83000
Total Transferred in
Units transferred out 68000 68000
Ending Work in Process 15000 15000
Total units to be accounted for 83000 83000
COST SCHEDULE
Total Transferred in
Beginning Work in Process 8,570.00 6,350.00
Current month costs 77,650.00 51,750.00
Total costs to account for 86,220.00 58,100.00
Journal Entry:
Finished Goods 70,638.07
Work in Process - Bottling 70,638.07
PROBLEM 11-7
Lavandera Company
Cost of Production Report -First Department
May-14
QUANTITY SCHEDULE:
Actual
Beginning Work in Process 5000
Started units 50000
Total units to account for 55000
Total Materials
Units transferred out 45000 45000
Ending Work in Process 10000 10000
Total units to be accounted for 55000 55000
COST SCHEDULE
Total Materials
Beginning Work in Process 30,800.00 12,000.00
Current month costs 210,000.00 65,000.00
Total costs to account for 240,800.00 77,000.00
Journal Entry:
Work in Process - Second 203,400.00
Work in Process - First 203,400.00
Lavandera Company
Cost of Production Report - Second Department
Apr-14
QUANTITY SCHEDULE:
Actual
Beginning Work in Process 7000
Started units 45000
Total units to account for 52000
Total Transferred in
Units transferred out 43000 43000
Ending Work in Process 9000 9000
Total units to be accounted for 52000 52000
COST SCHEDULE
Total Transferred in
Beginning Work in Process 63,425.00 28,000.00
Current month costs 358,400.00 203,400.00
Total costs to account for 421,825.00 231,400.00
Journal Entry:
Finished Goods 359,050.00
Work in Process - Second 359,050.00
PROBLEM 11-8
Orange Company
Cost of Production Report - Blending Department (D1)
Mar-14
QUANTITY SCHEDULE:
Actual
Beginning Work in Process 200
Started units 2300
Total units to account for 2500
Total Materials
Beginning Work in Process 200 200
Started this month and transferred out 1980 1980
Ending Work in Process 320 320
Total units to be accounted for 2500 2500
COST SCHEDULE
Total Materials
Beginning Work in Process 55,215.00 8,000.00
Current month costs 307,600.00 100,000.00
Total costs to account for 362,815.00 108,000.00
QUANTITY SCHEDULE:
Actual
Beginning Work in Process 100
Started units 2180
Total units to account for 2280
Total Transferred in
Beginning Work in Process 100 100
Started this month and transferred out 1900 1900
Ending Work in Process 280 280
Total units to be accounted for 2280 2280
COST SCHEDULE
Total Transferred in
Beginning Work in Process 18,669.00 15,188.00
Current month costs 455,171.00 339,971.00
Total costs to account for 473,840.00 355,159.00
Conversion Costs
39,900.00
400,720.00
440,620.00
5.44
397,101.98
43,518.02
440,620.00
Labor Overhead
36,000.00 18,000.00
298,800.00 192,924.00
334,800.00 210,924.00
3.00 1.89
318,000.00 200,340.00
16,800.00 10,584.00
334,800.00 210,924.00
Conversion Costs
75000
5400
80400
Labor
4,020.00
32,160.00
36,180.00
0.45
33,750.00
2,430.00
36,180.00
Materials Conversion costs
68000 68000
0 15000
68000 83000
- 0.34
- 23,038.07
- 5,081.93
- 28,120.00
Conversion Costs
45000
7500
52500
Labor
18,800.00
145,000.00
163,800.00
3.12
140,400.00
23,400.00
163,800.00
Materials Conversion costs
43000 43000
9000 4500
52000 47500
1.15 2.75
49,450.00 118,250.00
10,350.00 12,375.00
59,800.00 130,625.00
Conversion Costs
200
1980
80
2260
Conversion Costs
47,215.00
207,600.00
254,815.00
112.75
22,550.00
223,245.00
245,795.00
9,020.00
254,815.00
Materials Conversion costs
100 100
1900 1900
238 238
2238 2238
19.50 33.53
1,950.00 3,352.99
37,050.00 63,706.88
39,000.00 67,059.87
4,641.00 7,980.13
43,641.00 75,040.00
PROBLEM 12-1
QUANTITY SCHEDULE:
Actual
Beginning Work in Process 300
Started units 2200
Total units to account for 2500
Conversion
Total Materials Costs
Finished and Transferred out
Beginning Work in process 300 0 180
Started and Transferred out 1700 1700 1700
Ending Work in process 500 500 125
Total units to be accounted for 2500 2200 2005
COST SCHEDULE
Conversion
Total Materials Costs
Beginning Work in Process 96,250.00 75,000.00 21,250.00
Current month costs 1,124,660.00 699,600.00 425,060.00
Total costs to account for 1,220,910.00 774,600.00 446,310.00
Journal Entries:
Work In Process - Forming Department 1,124,660.00
Materials / A. Payable 699,600.00
Conversion Costs/Various Accts 425,060.00
PROBLEM 12-2
Star Toys Company
Cost of Production Report - Finishing Department (D2)
Apr-14
QUANTITY SCHEDULE:
Actual
Beginning Work in Process 500
Started and Transferred inunits 2000
Total units to account for 2500
COST SCHEDULE
Journal Entries:
Work in process - Finishing Department 1,650,410.00
Materials / Accounts Payable 231,000.00
Conversion Costs /Various Accts 384,000.00
Work in process - Forming Department 1,035,410.00
PROBLEM 12-3
Viagra Chemical Corporation
Cost of Production Report - Cooking Department (D1)
Jul-14
QUANTITY SCHEDULE:
Actual
Beginning Work in Process 4000
Started units 52000
Total units to account for 56000
Conversion
Total Materials Costs
Finished and Transferred out
Beginning Work in process 4000 0 1600
Started and Transferred out 46000 46000 46000
Ending Work in process 6000 6000 4500
Total units to be accounted for 56000 52000 52100
COST SCHEDULE
Conversion
Total Materials Costs
Beginning Work in Process 84,448.00 44,800.00 39,648.00
Current month costs 1,456,612.00 595,920.00 860,692.00
Total costs to account for 1,541,060.00 640,720.00 900,340.00
PROBLEM 12-4
QUANTITY SCHEDULE:
Actual
Beginning Work in Process 8000
Started and Transferred in 40000
Total units to account for 48000
Total Transferred in Materials
Finished and Transferred out
Beginning Work in process 8000 8000 1600
Started and Transferred out 36000 36000 36000
Ending Work in process 4000 4000 2800
Total units to be accounted for 48000 48000 40400
COST SCHEDULE
Total Transferred in Materials
Beginning Work in Process 202,520.00 132,000.00 49,920.00
Current month costs 1,220,800.00 640,000.00 323,200.00
Total costs to account for 1,423,320.00 772,000.00 373,120.00
PROBLEM 12-5
QUANTITY SCHEDULE:
Actual
Beginning Work in Process 1000
Started and Transferred in 3000
Total units to account for 4000
COST SCHEDULE
PROBLEM 12-6
Papaya Company
Cost of Production Report - 1st Department
May-14
QUANTITY SCHEDULE:
Actual
Beginning Work in Process 5000
Started units 50000
Total units to account for 55000
Conversion
Total Materials Costs
Finished and Transferred out
Beginning Work in process 5000 0 1750
Started and Transferred out 40000 40000 40000
Ending Work in process 10000 10000 7500
Total units to be accounted for 55000 50000 49250
COST SCHEDULE
Conversion
Total Materials Costs
Beginning Work in Process 32,475.00 13,000.00 19,475.00
Current month costs 207,852.00 65,000.00 142,852.00
Total costs to account for 240,327.00 78,000.00 162,327.00
Journal Entries:
Work In Process - 1st Department 207,852.00
Materials / A. Payable 65,000.00
Conversion Costs/Various Accts 142,852.00
Papaya Company
Cost of Production Report - 2nd Department
May-14
QUANTITY SCHEDULE:
Actual
Beginning Work in Process 7000
Started and Transferred in 45000
Total units to account for 52000
COST SCHEDULE
200
1600
120
1920
Conversion
Costs
72,500.00
384,000.00
456,500.00
200.00
72,500.00
40,000.00
320,000.00
432,500.00
24,000.00
456,500.00
Labor Overhead
4800 5600
36000 36000
2000 1600
42800 43200
Labor Overhead
13,440.00 7,160.00
171,200.00 86,400.00
184,640.00 93,560.00
4.00 2.00
13,440.00 7,160.00
19,200.00 11,200.00
144,000.00 72,000.00
176,640.00 90,360.00
8,000.00 3,200.00
184,640.00 93,560.00
Conversion
Costs
200
1800
480
2480
Conversion
Costs
72,500.00
384,000.00
456,500.00
154.84
72,500.00
30,967.74
278,709.68
382,177.42
74,322.58
456,500.00
Conversion
Costs
4200
36000
4500
44700
Conversion
Costs
20,960.00
109,962.00
130,922.00
2.46
20,960.00
10,332.00
88,560.00
119,852.00
11,070.00
130,922.00