Soal 1

Coalie Ltd is a coffee manufacturing company. It buys coffee beans from several plantations
from the area and processes them into high quality coffee. The company ask you to prepare
income statement for the period of 2018. Information provided to prepare the financial
statement were as follows :
1. Beginning inventory of raw material were $2,500. During 2018, the company
purchased raw material in the amount of $47,000. Raw material issued to production
2018 were $46,800.
2. Total payroll paid in 2018 were $53,000, in which 50% were for direct labor, 30% for
salesman salaries, 10% salaries of BOD and secretaries, while the rest is for indirect
labor
3. Electricity expenses $15,000, in which 40% for machines to grin the coffee bean, 30%
for sales and administrative office, while the rest is for factory building
4. Depreciation expeses for grinding machine was $3,200, depreciation for factory
building $2,100, warehouse (to store the coffee bean) $1,200, car depreciation (for
sales purposes) $1,000.
5. The company rented the office building for sales and administrative purposes. Rent
expenses were prepaid for one whole year in the amount of $6,000. Rental period
began on June 1st, 2018.
6. Other expenses incurred by the company were as follows :
1) Machine maintenance $800
2) Office supplies $700
3) Research and development $500
4) Gain on sale of fixed asset $700
5) Indirect material $5,600
6) Advertising and promotion $4,300
7) Other FOH $1,300
8) Interest expenses $400
9) Income tax expenses $13,600
7. Beginning WIP inventory were $1,400, while ending WIP inventory $2,100
8. Beginning F/G inventory were $2,800, while ending WIP inventory $3,200
9. Revenue for 2018 were $189,700
Based on the information above, answer the following questions :
1. Calculate prime cost and conversion cost of 2018
2. Calculate ending raw material inventoru for 2018
3. Prepare cost of goods manufactures statement for 2018
4. Prepare cost of good sold statement for 2018
5. Prepare income statement for 2018
Soal 2
PT. Wonderful is a company that make custom piano. The company produces piano based on
specification from customer. Here is the beginning balance of WIP inventory at October 1st,
2017
Material Material Used Job Cost Number
MR-342 Rp180.000 G-126
MR-343 Rp143.000 G-128
MR-344 Rp60.000 G-124
MR-345 Rp150.000 G-123
MR-346 Rp176.000 G-126
MR-347 Rp100.000 G-125
MR-348 Rp75.000 G-127
MR-349 Rp173.000 G-129
MR-350 Rp169.000 -
MR-351 Rp120.000 -
Job Number Direct Material Direct Labor FOH Applied Total
G-121 Rp150.000 Rp195.000 Rp351.000 Rp546.000
G-122 Rp175.000 Rp273.000 Rp491.400 Rp764.400
G-124 Rp116.000 Rp117.000 Rp210.600 Rp327.600
G-127 Rp143.000 Rp 58.500 Rp105.300 Rp163.800
Transactions that the company made during October 2017 were as follows:
1. Purchased Rp2.000.000 of Raw Materials. Rp1.000.000 was paid in cash. while the
rest will be paid next month (using perpetual method).
2. Issued raw material from the warehouse as follows:
3. Paid salary Rp3.000.000. which consisted of Rp2.000.000 for Factory Labor. and Rp1.000.000
for Marketing Personnel.
4. Payment for the labor in factory consisted of:
Job Cost Number Amount
G-126 Rp179.000
G-128 Rp210.000
G-124 Rp178.000
G-123 Rp198.000
G-125 Rp190.000
G-127 Rp180.000
G-129 Rp215.000
- Rp230.000
- Rp215.000
G-121 Rp120.000
G-122 Rp85.000
5. Paid electricity expenses Rp1.000.000. It consisted of Rp500.000 for the factory and
Rp500.000 for marketing office.
6. Paid Rp3.000.000 for the advertising cost for next month.
7. Depreciation expenses equipment in factory were Rp200.000 for factory machine, Rp300.000
for factory building and Rp400.000 for office building.
8. Factory Overhead wil be allocated to each Job based on direct labor costs (the rate is the same
for every month).
 9. G-121, G-122, G-123, G-124. and G-126 already finished and transferred to finished goods
inventory.
10. Closed the over/underapplied FOH with proration approach. Actual factory overhead during
October 2017 was Rp500.000 (excluding indirect material and indirect labor).
11. The order which are sold during October 2017 were G-121 (Rp1.500.000), G-122
(Rp2.000.000), G-124 (Rp1.600.000) and all of the sales were credit sales.
Required :
1. Based on information provided. Prepare the necessary journals for PT. Wonderful
2. Calculate the amount of Ending WIP Inventory, F/G Inventory and COGS (before and
after allocation)
3. Prepare PT. Waonderful’s Income Statement for October 2017

Soal 3
Jupiter Company manufactures single product in two departments, cutting and finishing.
Units of product are started in the cutting department and then transferred to the finishing
departmet when they are completed. Units are inspected at the 80% stage of production
process in the finishing department. Goods unit are transferred to F/G inventory. Normal
spoilage are determined at 5% of good unit inspected.
At the end of June, 500 units were still in process in the finishing department, 70% complete.
During July, 4.500 units were transferred from cutting department to the finishing
department, and 3.800 units transferred from finishing department to F/G inventory. At the
end of July, the finishing department still had 80 units in process, 60% complete.
There are four types of material in the finishing department. The first material all are added at
the beginning of process, the secon material all are added when the production reach 40%
stage, the third material all are added when production reach 70% stage, while the fourth
material all are added when the production reach 90% stage. Data related to finishing
department on July were as follows :

Cost Cahrged to Finishing Cost of Beginning Cost Added This

Department (US$) Inventory Period
Cost from Cutting Dept. 54,500 4,903,200
Cost of Material 1 61,500 555,750
Cost of Material 2 - 1,172,800
Cost of Material 3 - 1,451,814
Cost of Material 4 - 1,753,764
Conversion costs 112,500 3,337,500
Total 718,500 13,156,828
Based on the information :
1. Perpare cost of production report for the month of July for finishing department
2. Prepare the necessary journal entries for finishing department
3. Calculate cost per unit of the goods unit transferred to F/G inventory
Soal 4
Souvenir corp is a manufacturer of birthday souvenir. It has assembly department and
finishing department. This exercise focuses on the finishing department. Direct materials are
added when product reach 60% of completion. Conversion cost are added evenly during the
process. Souvenir Corp uses FIFO method of process costing. The following information for

Physical Direct Conversion

Units Materials Costs
1. Work in process, beginning inventory 1.000 - $ 15,000
(August 1)
2. Started during August 2017 3.500
3. Completed during August 2017 3.000
4. Total cost added during August 2017 $100,000 $50,000
August 2017 is available.
*Note : Degree of completion in beginning WIP : 40%
Degree of completion in WIP, August : 55%
Questions :
1. For each cost category, compute equivalent units in the finishing department. Show
physical units in the first column of your schedule.
2. For each cost category, summarize total finishing department costs for August 2017
and calculate the cost per equivalent unit.
3. Assign costs to units completed and and transferred out and to units in ending work in
process.
Soal 5
Assume that Radiant Co. has 10 spoiled units from job #5 that generate scraps with total sales
value of Rp650.000 (Assumes that the scrap is returned to storeroom is sold quickly). Prepare
the journal entries for recognizing the scrap assuming that :
1. The value is immaterial and recognized at the time of sale
2. The value is material, related to a specific job, and recognized at the time of sale
3. The value is material, and it is recognized as inventory at the time of production and
is recorded at its net realizable value
4. Scrap is reused and is common to all jobs

Soal 6
Assume that Radiant Co. has 10 spoiled units that can be reworked for a total cost of
Rp1.000.000. Prepare the journal entries for the rework and calculate the cost per unit,
assuming the rework is because of job #3 and :
1. Related to a specific job
2. Common to all jobs
3. Considered to be abnormal