Accounting Unit VII Final Paper

CookieProcessSheet.xlsx

Sheet1

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PRODUCTION COST SHEET
JOB NUMBER :CC 002/22
PARTICULARS		Process I	Process II
Direct Materials used for 1000 units		$86.50
Raw materials used per unit		$0.09
Production and transfer		$80.50
Normal loss of inputs = 5% of 1000		50
Direct Labor		$26	$6
Direct expenses (on direct labor)		80%	75%
Manufacturing Overheads (% of D.L)		10%	15%
Finished goods		900
Process I			Amount	Units
Cost of raw materials			$86	1000
Direct labour			$24
Direct expenses			$8
Manufacturing Overheads			$9.60
Subtotal			$127.60	1000
Less
Realization from normal loss of inputs			5%	50
Subtotal			$122.20	950
Per unit cost			$0.12
Number of units for process I				950
Cost of Process 1			$116.09
Balance due to abnormal loss			$6.11
Process II			Amount	Units
Cost from process I carried over			$116.09	950
Direct labour			$6
Direct expenses			$7.50
Manufacturing overheads			$10.50
Subtotal			$140.09
Less
Realization from normal loss of outputs			$0.15	47.5
Subtotal			$135.38	902.5
Per unit cost			$0.14
Number of units for proces II				903
Cost of process II			$128.60
Balance is due to abnormal gain			$6.78
	Closing Inventory
Cost per unit			$0.14
Units produced				950
Units sold				903
Closing units				47
Cost of closing inventory			$6.58