Page 2 of 2 www.prtc.com.ph P2.810CDRILL

INSTRUCTIONS. Use the provided answer sheet and write the CAPITAL letter of your best choice. This drill is good for 45 minutes. Good Luck!

Lucas Co. adds materials in the beginning of the process in the Forming Dept., which is the first of two stages of its production cycle. Information converting the materials used in the Forming Dept. in October are as follows:UnitsCosts

Work in process, Oct.1 6,000P3,000

Units started in October50,00025,560

Units comp. & transf. to next dept.44,000

1. Using the weighted-average method, what was the materials cost of work in process at October 31?a. P3,000c. P5,250b. P6,000d. P6,120

On April 1, the Collins Co. had 6,000 units of work in Dept. B, the second and last stage of their production cycle. The costs attached to these 6,000 units were P12,000 of costs transferred in from Dept. A, P2,500 of material cost added in Dept. B and P2,000 of conversion cost added in Dept. B. Materials are added in the beginning of the process in Dept. B. Conversion was 50% complete on April 1. During April, 14,000 units were transferred in from Dept. A at a cost of P27,000 and materials costs of P3,500 and conversion costs of P3,000 were added in Dept. B. On April 30, Dept. B had 5,000 units in work in process 60% complete as to conversion costs. The costs attached to these 5,000 units were P10,500 of costs transferred in from Dept. A, P1,800 of material costs added in Dept. B and P800 of conversion costs added in Dept. B.2. Using the weighted average method, the equivalent units for the month of April were: Transf.-in from Dept. A Materials Conversiona. 15,000 15,000 15,000

b. 19,000 19,000 20,000

c. 20,000 20,000 18,000

d. 25,000 25,000 20,000

3. Using the weighted average method, what was the cost per equivalent unit for conversion costs?a. P4,200/15,000 c. P5,800/18,000b. P5,800/20,000 d. P5,000/18,000

Sangley, Inc. manufactures a product which goes through three consecutive processes, Process 1, Process 2, and Process 3. Data for the month of September, 2006 are as follows:PROCESS1PROCESS2PROCESS3

Work in Process, beg.P8,000P13,000P2,000

Materials added20,000 4,000 5,000

Conversion costs10,000 10,00016,000

Closing work in process 6,000 9,000 4,000

4. What was the value of the output transferred from Process 3 to the finished goods warehouse for the month of September?a. P63,000 c. P67,000b. P65,000 d. P69,000

Ten-ten Company produces a small standard component in a process operation. There is a quality control check at the end of the processing. Items which fail this check are sold off as scrap for P1.80 per unit. The expected rate of rejection is 10%. Normal loss is not given a cost except that whatever scrap value it has is credited to the process account. The cost/value of the abnormal loss or gain, net of scrap, is written off to the profit and loss account.Data for July are as follows:

Materials input1,000 unitsP5,100

Conversion costP3,000

Output to finished goods 800 units

5. What was the full cost of the finished output that passed the quality control check?a. P7,040 c. P7,200b. P7,920 d. P8,100

From the following data, question 16 to 18 should be answered.Opening inventory4,000 units

Percentage of CompletionValue

Materials100%P1,992

Labor50%1,074

Overhead50%846

Put in process20,000 units

Materials valueP12,000

Labor9,984

Overhead is 100% of labor cost

Units completed and transferred21,000 units

Units in process at the end3,000 units

Materials100%

Labor and overhead60%

6. The equivalent production for material isUnder Average Under FIFOa. 24,000 20,000b. 20,000 21,000c. 20,000 24,000d. 21,000 20,000

7. The equivalent production labor and overhead isa. 21,000 20,000b. 24,000 22,000c. 22,800 20,800d. 21,000 21,000

8. The total cost of the work in process at the end isa. 3,577 3,500b. 3,477 3,528c. 3,528 3,477d. 3,500 3,577

Complete the following process account of Lei Manufacturing Company by supplying the peso amounts of (A) and (B) on the credit side of the account.Process Y

May 1May 1-31

6,000 unitsP4,800 16,000 units completed (A)

1/3 completed

May 1-31May 31

Mat. 12,000 @ P0.506,0002,000 units- completed

Labor3,600

Overhead5,400

9. The peso amount of the 16,000 units completed (A) isa. P17,800 c. P17,600b. P18,200d. P16,400 10. The peso amount of the 2,000 units completed (B) isa. P2,200 c. P2,000b. P1,600 d. P1,400

done submit your answer sheet, thank you!