1. 4 Process Costing Chapter FG WIP  Splitting the total cost between WIP and FG.

2. Beginning WIP Units Completed Ending WIP Current Work ? +=+

3. Units $ / UnitTotal $ Beg WIP Current Total Completed End WIP Total

4. Units Beg WIP200 Current period5,000 End WIP400 DM $ 9,600 368,600 ? Completed4,800? Textbook Example Conversion $ 5,575 350,900 ? ? Process Costing Example

5. 1.Determine current period units by working backwards. Physical Units Completed End WIP (DM 40%, Conv 25%) Current DM Beg WIP (DM 55%, Conv 30%) Conv Material for 4,850 units added during the period. Enough labor and overhead for 4,840 units.

6. DM Costs Assignmnt Total End WIP Units$/unitTotal $ Beg WIP110 Current4,850 Total4,960 Complete 2.Determine per-unit costs. 3.Assign costs to completed and end inventory. Conversion Units$/unitTotal $ Total 60 4,840 4,900

7. Assignmnt Total End WIP Beg WIP DM Costs Units$/unitTotal $ Beg WIP110$ 9,600 Current4,850368,600 Total4,960$378,200 Conversion Units$/unitTotal $ Total 60$ 5,575 4,840350,900 4,900$356,475 $ 15,175 719,500 $734,675 Complete Completed Current Total FIFO