Combined Cost of Production Report (CPR) - Process Costing

13/08/2008 20:30

 

Combined Cost of Production Report (CPR) - Process Costing:

The three cost of production reports for the Clonex Corpora have been discussed and computed separately.

These reports would most likely be consolidated in a single report summarizing manufacturing operations of the firm for a specific period. Such a report, as illustrated below, should be reviewed in order to observe the interrelationship of the various department reports.

The Clonex Corporation
Cost of Production Report
All Producing Departments
For the Month of January, 19        

Quantity Schedule: Blending 1st Department Testing 2nd Department Terminal 3rd Department
Units started in process 50,000
======
   
Units received from the preceding department   45,000
======
40,000
======
Units transferred to next department 45,000 40,000  
Units transferred to finished goods storeroom     35,000
Units still in process 4,000 3,000 4,000
Units lost in process 1,000
-------
2,000
-------
1,000
-------
  50,000
======
45,000
======
40,000
======
Cost Charged To the Department: Total
Cost
unit cost Total
cost
unit
Cost
Total cost unit
Cost
 
Cost from preceding department:            
Transferred in during the month     $77,400 $1.72 $140,400 $3.51
      -------- ----- -------- -----
Cost added by the department:            
Materials $24,500 $.50        
Labor 29,140 .62 $37,310 $.91 $32,400 $.90
Factory Overhead (FOH) 28,200
-------
.60
----
32,800
-----
.80
----
19,800
-------
.55
----
Total cost added $81,840 $1.72 $70,110 $1.71 $52,200 $1.45
Adjusted for lost units       $.08   $.09
  ------- ---- ------- ----- -------- ----
Total cost to be accounted for $81,840 $1.72 $147,510 $3.51 $192,600 $5.05
  ====== === ====== === ====== ===
Cost Accounted for as Follows:      
Transferred to next department $77,400 $140,400  
Transferred to finished goods storeroom (35,000 × $5.05)     $176,750
Work in process - ending inventory:      
Adjusted cost from preceding department [4,000 × ($3.51 + $0.09)]
 

$5,400

$14,400
Materials $2,000    
Labor (4,000 × 1/4 × $0.90) 1,240 910 900
Factory Overhead (4,000 × 1/4 × $0.55) 1,200
------
800
------
550
------
  4,440
--------
7,110
------
15,850
--------
Total cost accounted for $81,840 $147,510 $192,600
  ====== ====== ======