Process Costing Base Data:

List Your Product Name Here

ENTER YOUR INDIVIDUAL CASE NUMBER HERE 6891

(THIS IS IN YOUR GRADEBOOK AND IS THE NUMBER USED IN PART 2)

First Name Last Name

Enter Your Name Here

BASE DATA:

UNITS:

Beginning WIP Inventory (20% complete as to CC) 5,000

Units started 20,000

Units completed and transferred out 15,000

Ending WIP Inventory (Mat 100 %, CC 50 % complete) 10,000

Costs:

Beginning inventory:

Materials $ 4,000

CC $ 1,000

Current period:

Materials $ 16,000

CC $ 4,000

All materials are added at the beginning of the process

WITH THE ABOVE DATA SOLVE THE FOLLOWING QUESTIONS REGARDING YOUR PRODUCT:

What is your Product’s Equivalent units (EUP) for Mat & CC using Weighted Average? Materials EUP CC EUP

Record your answers here

What is your Product’s Equivalent units (EUP) for Mat & CC using FIFO? Materials EUP CC EUP

Record your answers here

What is your Product’s Cost per Equivalent unit (EUP) for Mat & CC using Weighted Average? Materials Cost per EUP CC Cost per EUP

Record your answers here

What is your Product’s Cost per Equivalent unit (EUP) for Mat & CC using FIFO? Materials Cost per EUP CC Cost per EUP

Record your answers here

What is your Product’s Cost of ending WIP inventory using Weighted Average? End MAT cost in WIP End CC cost in WIP

Record your answers here

What is your Product’s Cost of ending WIP inventory using FIFO? End MAT cost in WIP End CC cost in WIP

Record your answers here

Check Figures:

Weighted Average FIFO

Your product’s total cost (Mat AND CC) per equivalent unit is: $ 1.05 $ 1.01 (rounded)

Check the order of your formula calculations

For example, if your cell a1 is 15 and cell b1 is 4 and cell c1 is 2.

You want to add cells a1 and b1 and then divide that sum by cell c1

If your excel formula is a1+b1/c1 then your calculation result is 16.333

If your excel formula is (a1+b1)/c1 then your calculation result is 9.5

The result 9.5 would be the correct answer.

Case Part 3 Grading: Possible Points Earned Points

2 points for each correct answer 24

1/2 point for use of excel formulas to support answers 6

Total points for case part 3 30 0

&CACC 311 Interactive Case Part 3 – Processing Costing Blank File

&C&”Arial,Bold”&12Page &P of &N

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