Booklet 4 Process Costing Solutions.xlsx - Worked Examples 1-2

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Worked Example 1 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 5000 3.2 16000 5000 16000
Labour (300 x £7.50) 2250 5000 18250
Variable OH (300 x £2) 600 5000 18850
Fixed OH 1150 5000 4 20000
Good Output to Stores 5000 4 20000 0 0
Worked Example 2
Debits Credits Balance
Process 2 Account Units CPU Value Units CPU Value Units CPU Value
Transfer from Process 1 3500 3.75 13125 3500 13125
Materials 7500 5.5 41250 11000 54375
Labour (200 x £8.50) 1700 11000 56075
Variable OH (200 x £1.50) 300 11000 56375
Fixed OH 3465 11000 59840
Normal Loss 1100 0.4 440 9900 59400
Closing Work in Progress 900 3150 9000 6.25 56250
Good Output to Stores 9000 6.25 56250 0 0