Accounting

1) Recall Production Report Weighted norm Method, 5 steps.
1. Summarise the physical flow of social units
2. picture equivalent units
3. Compute cost per equivalent unit
4. Compute cost of inventory completed goods inventory and WIP Inventory
5. Cost reconciliation

implore inventory 10
Units started = Units started and completed + spend a penny in progress, Ending = Units completed - Work in progress, send-off + Work in progress, Ending = 140 -10 + 20 = 150
happen units to account for

Units transferred out 140
Ending inventory 20
Get units accounted for

1. Beg is 40%, exclusively doesnt matter for Weighted Average Method. Completed is always 100%, Ending inventory part 50% x 20 = 10.

2. Conversion costs is advertize combined with overhead. Overhead is 200% of direct grasp. So fritter away $282 + ($282 x 200%) =$846. Do so for materials and conversion. Then center of attention up horizontally and vertically.

3. 150 equivalent units. So scoop out 18,588 divide by 150 = 123.92.
3,888/150=25.92
14,700/150=98

4. Find the cost of goods transferred out + Costs of WIP to find wide-cut costs accounted for.

5. Total units to account for should match total units accounted for. In this case, 18,588.

2) Do the same for the encapsulating department.



Change the 150% of direct labour for overhead costs accordingly. 40% of Ending inventory now.

4. acquire that materials were incorporated at the beginning. So use 6,000.

5. Slightly varied due to decimal place issues.

1) Multiply no. of gross sales orders, average size order and selling price per unit which is $125. Since ratio of JIT: Non-JIT is 1:1 for the revenue, and use revenue as allocation base, spilt the costs into half accordingly.

2) Ordering rate, channelize impact sales orders (customer costs) divide by sales orders. Selling rate, need selling goods divide by sales calls. Servicing rate, take servicing goods divide by service calls. Get all(prenominal) activity rate. So can find JIT and non-JIT.

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