Booklet 4 Process Costing Solutions.xlsx - 2.73-2.75 (F)

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2.73 Unnamed: 1 Unnamed: 2 Unnamed: 3 Unnamed: 4 Unnamed: 5 Unnamed: 6 Unnamed: 7 Unnamed: 8 Unnamed: 9
Debits Credits Balance
Process 1 Account Units CPU Value Units CPU Value Units CPU Value
Materials 1000 8 8000 1000 8000
Labour (500 x £14) 7000 1000 15000
Variable OH (500 x £5.20) 2600 1000 17600
Fixed OH 2400 1000 20 20000
Good Output to Stores 1000 20 20000 0 0
Debits Credits Balance
Process 2 Account Units CPU Value Units CPU Value Units CPU Value
Transfer from Process 1 1000 20 20000 1000 20000
Materials 500 12.4 6200 1500 26200
Labour (250 x £16) 4000 1500 30200
Variable OH (250 x £11.20) 2800 1500 33000
Fixed OH 3000 1500 24 36000
Good Output to Stores 1500 24 36000 0 0
2.74
Debits Credits Balance
Process 1 Account Units CPU Value Units CPU Value Units CPU Value
Materials 1000 16 16000 1000 16000
Labour (1000 x £14) 14000 1000 30000
Fixed OH 4800 1000 34800
Variable OH (1000 x £6.70) 6700 1000 41500
Normal Loss 100 10 1000 900 45 40500
Good Output to Stores 900 45 40500 0 0
2.75
Debits Credits Balance
Mixing Process Account Units CPU Value Units CPU Value Units CPU Value
Materials 75 23 1725 75 1725
Labour (15 x £12) 180 75 1905
Fixed OH 450 75 2355
Variable OH (15 x £2) 30 75 2385
Normal Loss 6 10 60 69 2325
Closing WIP 19 475 50 37 1850
Good Output to Stores 50 37 1850 0 0