Estrella Company'S Mixing Department Fifo - Mixing Production: Step 1: Physical Flow Analysis

ESTRELLA COMPANY'S MIXING DEPARTMENT
Production: Units Step 1: Physical flow analysis

Units in process, October 1, 70% complete 10,000
Units completed and transferred out 60,000 Units to account for:
Units in process, October 31, 40% complete 20,000 Work in process, beg
Units started
Costs: $ Total units to account for
Work in process, October 1:
Direct materials 1,000.00 Units accounted for:
Conversion costs 350.00 Units completed and transferred out:
Total work in process 1,350.00 Started and completed
From WIP, beg
Current costs: Units in WIP, end (40% complete)
Direct materials 12,600.00 Total units accounted for
Conversion costs 3,050.00
Total current costs 15,650.00 Step 2: Calculation of Equivalent units
Units started and completed

Add Units in WIP, beg * percentage to co
Add Units in WIP, end * percentage to co
Equivalent units of output
Step 3: Computation of Unit cost
Unit direct materials

Unit conversion costs
Unit cost
Step 4: Valuation of Inventories
Cost of WIP, end

Direct materials
Conversion costs
Total

WIP, beg units
Prior-period costs
Costs to finish
Total
Step 5: Cost Reconciliation
Costs to account for:

WIP, beg
Incurred during the period:
Direct materials
Conversion costs
Total costs to account for
Costs accounted for:

Goods transferred out:
WIP, beg
Units started & completed
Goods in WIP, end
Total costs accounted for
Journal Entries
Work in process - mixing

Materials
To record requisitions of materials f

Conversion cost control
To record the application of overhe
Work in process - tableting

To record the transfer of cost of goo
FIFO - MIXING
1: Physical flow analysis
to account for:
ork in process, beg 10,000
70,000
tal units to account for 80,000
accounted for:
nits completed and transferred out:
Started and completed 50,000
From WIP, beg 10,000 60,000
nits in WIP, end (40% complete) 20,000
otal units accounted for 80,000
2: Calculation of Equivalent units
DM CC
started and completed 50,000 50,000
Units in WIP, beg * percentage to complete - 3,000
Units in WIP, end * percentage to complete 20,000 8,000
valent units of output 70,000 61,000
3: Computation of Unit cost
direct materials 0.18

conversion costs 0.05
0.23
4: Valuation of Inventories
of WIP, end
rect materials 3,600.00
nversion costs 400.00
4,000.00
started and completed 11,500.00
ior-period costs 1,350.00

sts to finish 150.00 1,500.00
13,000.00
5: Cost Reconciliation
to account for:
1,350.00
curred during the period:
Direct materials 12,600.00
Conversion costs 3,050.00 15,650.00
tal costs to account for 17,000.00
accounted for:
oods transferred out:
1,500.00
Units started & completed 11,500.00
oods in WIP, end 4,000.00
tal costs accounted for 17,000.00
k in process - mixing 12,600.00

12,600.00
To record requisitions of materials for oct.

nversion cost control 3,050.00
To record the application of overhead and the incurrence of direct labor.
k in process - tableting 13,000.00

ork in process - mixing 13,000.00
To record the transfer of cost of goods completed from mixing to tableting.
ESTRELLA COMPANY'S MIXING DEPARTMENT WEIGHTED AV
Production: Units Step 1: Physical flow analysis

Units started
Direct materials 1,000.00 Units accounted for:
Conversion costs 350.00 Units completed and transferred out:
Total work in process 1,350.00 Started and completed
From WIP, beg
Current costs: Units in WIP, end (40% complete)
Direct materials 12,600.00 Total units accounted for
Total current costs 15,650.00 Step 2: Calculation of Equivalent units


Unit cost
Cost of WIP, end

Direct materials
Conversion costs
Total
Cost of goods transferred out
Step 5: Cost Reconciliation
Costs to account for:

WIP, beg
Incurred during the period:
Direct materials
Conversion costs
Total costs to account for
Costs accounted for:
Goods transferred out
Goods in WIP, end
Total costs accounted for
Journal Entries

Materials
To record requisitions of materials f

Conversion cost control
To record the application of overhe
Work in process - tableting

To record the transfer of cost of goo
WEIGHTED AVERAGE COST METHOD - MIXING
to account for:
70,000
accounted for:
From WIP, beg 10,000 60,000
nits in WIP, end (40% complete) 20,000
DM CC
started and completed 60,000 60,000
Units in WIP, end * percentage to complete 20,000 8,000
valent units of output 80,000 68,000

0.22
of WIP, end
rect materials 3,400.00
nversion costs 400.00
3,800.00
of goods transferred out 13,200.00
5: Cost Reconciliation
to account for:
1,350.00
curred during the period:
Direct materials 12,600.00
Conversion costs 3,050.00 15,650.00
tal costs to account for 17,000.00
accounted for:
oods transferred out 13,200.00
oods in WIP, end 3,800.00
tal costs accounted for 17,000.00

12,600.00
To record requisitions of materials for oct.

nversion cost control 3,050.00
To record the application of overhead and the incurrence of direct labor.
k in process - tableting 13,200.00

ork in process - mixing 13,200.00
To record the transfer of cost of goods completed from mixing to tableting.
ESTRELLA COMPANY'S TABLETING DEPARTMENT
Production: Tablets Step 1: Physical flow analysis

Units started
Transferred-in cost 800.00 Units accounted for:
Direct materials (binding agent) 300.00 Units completed and transferred out:
Conversion costs 180.00 Started and completed
Total work in process 1,280.00 From WIP, beg
Units in WIP, end
Current costs: Total units accounted for
Transferred-in costs 13,200.00
Direct materials (binding agent) 2,500.00 Step 2: Calculation of Equivalent units
Total current costs 20,700.00
Add Units in WIP, beg * percentage to co
Unit transferred-in cost

Unit cost
Cost of goods transferred out:

Total work in process
Started&Completed * UC
Transferred-in materials
Direct materials added
Conversion costs
Total
FIFO - TABLETING
to account for:
264,000 (given yung 4 at 10%)
accounted for:
From WIP, beg 16,000 250,000
nits in WIP, end 30,000
Transferred-in DM CC
started and completed 234,000 234,000 234,000
Units in WIP, beg * percentage to complete - 16,000 3,200
Units in WIP, end * percentage to complete 30,000 30,000 9,000
valent units of output 264,000 280,000 246,200
transferred-in cost 0.05

0.08
of goods transferred out:

tal work in process 1,280.00
arted&Completed * UC 18,720.00
20,000.00
sferred-in materials 1,500.00

t materials added 300.00
ersion costs 180.00
1,980.00

Estrella Company'S Mixing Department Fifo - Mixing Production: Step 1: Physical Flow Analysis

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ESTRELLA COMPANY'S MIXING DEPARTMENT

Production: Units Step 1: Physical flow analysis

Units started and completed

Step 3: Computation of Unit cost

Unit direct materials

Step 4: Valuation of Inventories

Cost of WIP, end

Units started and completed

Step 5: Cost Reconciliation

Costs to account for:

Costs accounted for:

Work in process - mixing

Work in process - mixing

Work in process - tableting

1: Physical flow analysis

2: Calculation of Equivalent units

3: Computation of Unit cost

direct materials 0.18

started and completed 11,500.00

ior-period costs 1,350.00

k in process - mixing 12,600.00

k in process - mixing 3,050.00

k in process - tableting 13,000.00

Production: Units Step 1: Physical flow analysis

Units started and completed

Step 3: Computation of Unit cost

Unit direct materials

Step 4: Valuation of Inventories

Cost of WIP, end

Cost of goods transferred out

Step 5: Cost Reconciliation

Costs to account for:

Work in process - mixing

Work in process - mixing

Work in process - tableting

1: Physical flow analysis

2: Calculation of Equivalent units

3: Computation of Unit cost

direct materials 0.17

of goods transferred out 13,200.00

k in process - mixing 12,600.00

k in process - mixing 3,050.00

k in process - tableting 13,200.00

Production: Tablets Step 1: Physical flow analysis

Step 3: Computation of Unit cost

Unit transferred-in cost

Step 4: Valuation of Inventories

Cost of goods transferred out:

1: Physical flow analysis

2: Calculation of Equivalent units

3: Computation of Unit cost

transferred-in cost 0.05

of goods transferred out:

sferred-in materials 1,500.00

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