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
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