Solutions Ch. 17 Problems

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# Solutions Ch. 17 Problems - PowerPoint PPT Presentation

Solutions Ch. 17 Problems. Process Costing. Pr. 17-30—Simple weighted average. EUs = C&T + EI *\%. 17-31 Journal entries (from 17-30 ). 17-32--FIFO. Pr. 17-32 Step 2 alternative. Alternative: (all the work) – (work done last period) = ( C&T + EI *\% complete) – (BI*\% complete)

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## PowerPoint Slideshow about 'Solutions Ch. 17 Problems' - haamid

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### Solutions Ch. 17 Problems

Process Costing

Pr. 17-32 Step 2 alternative

Alternative: (all the work) – (work done last period)

=(C&T + EI*% complete) – (BI*% complete)

DM: 22,500 +2500*100% - 5000*100% = 20,000

CC: 22,500 +2500*70% - 5000*60% = 21,250

Pr. 17-32, steps 3 & 4

Note: Move ahead to next slide, where the audio can be heard related to Step 5.

Pr. 17-32, Step 5

Note: Narration continues to introduce Problem 33, the next department.

Pr. 17-34: Transferred-in costs, FIFO

7500*30%*\$170.00 seems clearer to me

Pr. 17-41: Standard process costing

Standard costing simplifies accounting

Don’t need to calculate the unit cost (step 4)

Costs assigned at standard amount; difference is variance.