1.) What was Toule’s cost of goods sold for October?

The cost of good manufactured for October at Toule manufacturing corporation was
$907,000. The following changes occurred in Toule inventory accounts during October:

Decrease in raw materials inventory $24,000

Decrease in work process inventory $17,000
Increase in finished good inventory $38,000

2.) Using the following data for a recent period, calculate the beginning finished goods
inventory:

Sales $40,000
Beginning finished goods inventory ?
Cost of goods manufactured $16,000
Ending finished good inventory $5,000
Cost of goods sold ?
Gross margin $17,000
Administrative and selling expenses ?
Net operating income $10,000

3.) Mandaue Company consumed P450,000 worth of direct materials during May, 2021. At
the end of the month, the direct materials inventory of Mandaue was P25,000 higher
than the May 1 inventory level. How much was the direct materials procured during
May 2021?

4.) Last month, Pare Company placed P60,000 of materials into production. The Printing
Department used 8,000 labor hours at P5.60 per hour and the Binding Department used
4,600 hours at P6.00 per hour. Factory overhead is applied at a rate of P6.00 per labor
hour in the Printing Department and P8.00 per labor hour in the Binding Department.
Total manufacturing cost was

5.) What is the cost of goods manufactured?

The following data were taken from the records of TREK company:

08/31/2021 09/30/2021
Inventories
Raw materials 50,000 25,000
Work in process 80,000 95,000
Finished goods 60,000 78,000
Raw materials purchases, P46,000
Factory overhead, 75% of direct labor cost, P63,000
Selling and administrative expenses, 125% of sales, P25,000

: Raw materials purchases, P46,000

Factory overhead, 75% of direct labor cost, P63,000
Selling and administrative expenses, 25% of sales, P105,000

6.) The following data are for a recent period’s operations:

Beginning finished good inventory 141,025
Ending finished goods inventory 145,750
Sales 400,000
Gross margin 120,000
The cost of good manufactured was:

7.) Last month a manufacturing company had the following operating results:

Beginning finished good inventory $77,000

Ending finished goods inventory $72,000
Sales $593,000
Gross margin $170,000
What was the cost of goods manufactured for the month?

8.) The following data pertain to a recent period’s operations:

Sales ?
Beginning finished goods inventory $12,000
Cost of goods manufactured $36,000
Ending finished good inventory $6,000
Cost of goods sold ?
Gross margin 40% of sales
Administrative and selling expenses $13,000
Net operating income ?
Net operating income was:
 9.) The cost of goods manufactured was $714,000. What was the cost of goods sold?

The following inventory balances have been provided for the most recent year:
Beginning Ending
Raw materials $21,000 $15,000
Work in process $18,000 $29,000
Finished goods $57,000 $33,000

10) Sensei Company makes different kinds of bags. Costs reported for the month of January
2023 are reported as follows:

Leather 50,000
Rings and other materials used as design 52,000
Salary of factory worker 92,000
Salary of maintenance personnel 42,000
Salary of factory supervisor 35,000
depreciation on factory equipment 10,000
Power and light 18,000
Other utilities 5,000
How much is the Manufacturing overhead cost?

How much is the period cost?

Long Company transferred 5,500 units to Finished Goods Inventory during September.
On September 1, the company had 400 units on hand (40 percent complete as to both
material and conversion costs). On June 30, the company had 800 units (10 percent
complete as to material and 20 percent complete as to conversion costs). The number
of units started and completed during September was:*
2/2
5,200
5,380.
5,100

6,300

Green Company started 9,000 units in February. The company transferred out 8,000
finished units and ended the period with 3,500 units that were 40 percent complete as to
both material and conversion costs. Beginning Work in Process Inventory units were*
2/2
500
1,500
2,000
2,500

Taylor Company uses a weighted average process costing system and started 30,000
units this month. Taylor had 12,000 units that were 20 percent complete as to
conversion costs in beginning Work in Process Inventory and 3,000 units that were 40
percent complete as to conversion costs in ending Work in Process Inventory. How
many units are to be accounted for?*
2/2
37,800
Option 2
40,200
42,000

Taylor Company uses a weighted average process costing system and started 30,000
units this month. Taylor had 12,000 units that were 20 percent complete as to
conversion costs in beginning Work in Process Inventory and 3,000 units that were 40
percent complete as to conversion costs in ending Work in Process Inventory. What are
equivalent units for conversion costs?*
2/2
37,800
40,200

42,000
none of the above

KAKAKAKA Company uses a FIFO costing system. Material is added at the start of
production. The Company started 13,000 units into production and had 4,500 units in
process at the start of the period that were 60 percent complete as to conversion costs.
If KAKAKAKA transferred out 11,750 units, how many units were in ending Work in
Process Inventory?*
2/2
3,000
3,500
5,750

1,250
None of the above

Bush Company had beginning Work in Process Inventory of 5,000 units that were 40
percent complete as to conversion costs. X started and completed 42,000 units this
period and had ending Work in Process Inventory of 12,000 units. How many units were
started this period?*
2/2
42,000
47,000
54,000

59,000

Department A is the first stage of Mann Company’s production cycle. The following
information is available for conversion costs for the month of April 20x7:
 Units

Work-in-process, beginning (60% complete)………………… 20,000

Started in April ………………………………………………………… 340,000

Completed in April and Transferred to Department B …… 320,000

Work-in-process, ending (40% complete) ……………………. 40,000

The equivalent units for the conversion cost using FIFO/Weighted Average
calculations are:
*
2/2
324,000/324,000
336,000/336,000
336,000/324,000
324,000/336,000

BWIP was 60% complete as to conversion costs, and EWIP was 45% complete as to
conversion costs. The peso amount of the conversion cost included in EWIP (using the
weighted average method) is determined by multiplying the average unit conversion
costs by what percentage of the total units in EWIP?
*
2/2
100%
55%
60%
45%

Sonora Manufacturing Company produces a product from two manufacturing

processes, the cutting and the fitting. The product is cut out of precious stones and then
bought to the flitting department where parts are added thereto. In view thereof, a
process cost system using the average cost flow assumption is put in place. Relevant
data on the operations of the Cutting Department for the month of August show:

Beginning Added this

Inventory Period

Costs charged to the department :

Materials………………………………… P 4,120 P
44,880

Direct Labor……………………………. 522

12,638

Factory overhead…………………….. 961

18,779

During the month, 9,200 units were transferred from the Cutting Department to the
Fitting Department. The Cutting Department had 1,000 units still in process at the end of
July (100% complete as to materials and 40% complete as to conversion costs) and
800 units still in process at the end of August (75% complete as materials and 25%
complete as to conversion costs, what is EUP for Materials and Conversion Cost
respectively?
*
2/2
10,000 / 12,500
9,200 / 9,400
9,400 / 9,800
9,800 / 9,400

Sonora Manufacturing Company produces a product from two manufacturing

processes, the cutting and the fitting. The product is cut out of precious stones and then
bought to the flitting department where parts are added thereto. In view thereof, a
process cost system using the average cost flow assumption is put in place. Relevant
data on the operations of the Cutting Department for the month of August show:

Beginning Added this

Inventory Period

Costs charged to the department :

Materials………………………………… P 4,120 P
44,880

Direct Labor……………………………. 522

12,638

Factory overhead…………………….. 961

18,779

During the month, 9,200 units were transferred from the Cutting Department to the
Fitting Department. The Cutting Department had 1,000 units still in process at the end of
July (100% complete as to materials and 40% complete as to conversion costs) and
800 units still in process at the end of August (75% complete as materials and 25%
complete as to conversion costs, what is the average cost per equivalent unit in the
Cutting Department?
*
2/2
7.40
6.40
9.50
8.50