Cost Of Production Report Fifo Method


Average Cost Method. Examples of prepaid expenses can be insurance premiums or rent. Learn the 5 steps for process costing. Pacocha Company manufactures bicycles and tricycles. I can simulate the BoM price and even activate it. Account for scrap! 644 18 Spoilage, Rework, and Scrap 1 Sources: Lunsford, J. and is used for all the different activities. You then use a FIFO cost determination run to update the calculated cost to the material valuation master data as the Periodic FIFO Cost. The fishbone diagram helps you explore all potential or real causes that result in a single defect or failure. You can change the monetary amount for any cost method at any time except for cost method 07 (standard). First In First Out (FIFO) method. The main principle of lean manufacturing is to reduce waste in an operation, such as long lead times, defects and material waste. Assume that Calgary Corporation provides you with the following information for Finishing operations for November (no new material is added in the Finishing Department): WIP …. The following information on the physical flow of units is available for the month of November. Under FIFO, when 60 cans leave inventory, the firm reports them as 60 of the 75 "January" cans. Absorppytion Inventory Method Reqqpuired prior to enactment of Sect. Cost Analysis. For example, assume that a company purchased materials to produce four units of their goods. Step 2: Format the worksheet as follows so that we know exactly what information is where:. Under the lower of cost or market rule, what amount should. So under FIFO, we have first in, first out so we pull those first 4,000 units from the beginning inventory of $5. In the FIFO method, the item cost is managed by layers for each item. The average cost is computed by dividing the total cost of goods available for sale by the total units available for sale. In process costing Cost of Production Report also called Process Cost Sheet is the key document. It is assumed that the most initial cost, normally replacement cost is the most significant in matching cost with revenue in income determination. FIFO (First In, First Out) and LIFO (Last In, First Out) are two methods of accounting for the value of inventory held by the company. The company uses the FIFO method in its process costing system. For instance if 25% work has been done on the average on units still in process then 120 such units will be equal to 30 completed units. Most companies use either the weighted average or first-in-first-out (FIFO) method to assign costs to inventory in a process costing environment. Preparing a Production Cost Report Next Lesson FIFO Inventory Method of Finding Equivalent Units Chapter 6 / Lesson 5 Transcript. I have used FIFO costing method for all items including finished products. There are two inventory costing methods available in Sage 50 Accounting. Required:Prepare a cash flow budget for the period 1 January 2021 to 30 June 2021 and indicate the closing balance as at 30 June 2021. Production report Definition A report that summarizes all activity in a department's Work in Process account during a period and that contains three parts: a quantity schedule and a computation of equivalent units, a computation of total and unit costs, and a cost reconciliation. ) LUTHER PROCESSING COMPANY. If you use moving average in production costing, costs can be based on the current costs of raw materials rather than on the cost price that was originally registered for the item master. This is a compromise between FIFO and LIFO. When a company assigns costs to an equivalent unit of production, the simplest method is by using the weighted-average cost of beginning inventory and adding new cost in additional purchases of. Foss, Gary Fromm, Irving Rottenberg. Product Costs in a Process Cost System. Contabilidad Español - Inglés. First In First Out (FIFO) method. Despite the higher CoGS that results from this relative to the FIFO method. 2- Reciprocal 3- Sales- value. The company uses the FIFO method in its process costing system. 45] and about $16. COST CLASSIFICATIONS. The level of costs for the delivery of goods 1 and 4 will be 10%, 2 and 3 - 15%. The basic and most important Construction tool used to determine Project Profitability is the Cost Reporting process. Where the product is produced. Weighted-Average Method 4-57 The FIFO method (generally considered more accurate than the weighted-average method) differs from the weighted-average method in two ways: 1. The inventory value is $300 (150 x $2). Direct materials $20,400 $7,600. Index Corporation uses the FIFO method in its process costing system. They use the FIFO method. FIrst-in First-out (FIFO) FIFO matches up sales with inventories in a sequential manner by matching the revenues from the first sale with the costs associated with the first product that was made. 00 per unit. Step 2: Format the worksheet as follows so that we know exactly what information is where:. FIFO stands for First In, First Out, which means the goods that are unsold are the ones that were most recently added to the inventory. o Costs in beginning inventory are kept separate from costs incurred during the period. It sells the products at cost. If accounting for sales and purchase is kept separate from accounting for inventory, the measurement of inventory need only be calculated once at the period end. You cannot change your inventory costing method from a moving average method to a First in, First out (FIFO) method, a Last in, First out (LIFO) method, or a weighted average method. First-In, First-Out (FIFO) is one of the methods commonly used to estimate the value of inventory on hand at the end of an accounting period and the cost of goods sold during the period. And, the next to move has the value of the item on hand second-longest, and so on. Costs are assigned first to production departments. Round your "Cost per EUP" answers to the nearest cent. Identify and interpret the significance of any global issues for the production of sugar. cost per equivalent unit:. Under the FIFO method. For both products, materials are added at the beginning of the production process, and conversion costs are incurred uniformly. During the month, $427,000 of costs was added to production and the cost of units transferred out from the department was $428,000. Bakery financial report: Revenue: $10,625; COGS: $6,000. However, forecasting and making adjustments frequently. A Simple Production Report - Using the FIFO Method Eric Blazer. For November, prepare a cost of production report, assuming that the company uses the weighted average method. Method # 1. The Cost variance A/c is credited/debited with the cost variance difference on posting of BOM Journal. 4A-12 Beginning work in process: 400 units Materials: 40% complete $ 6,119 Conversion: 20% complete $ 3,920 Production started during June 6,000 units Production completed during June 5,400 units Costs added to production in June Materials cost $ 118,621 Conversion cost $ 81,130 Ending work in process 900 units Materials: 60% complete Conversion: 30% complete Cost per Equivalent Unit - FIFO Let’s revisit the Smith Company Assembly Department for the month of June to prepare our production. Note: Inventories are described in the Company's latest 10-K filing. Thus the inventory values reported in the balance sheet are more realistic as they are based on the most recently incurred costs. The other common inventory calculation methods are LIFO (last-in, first-out) and average cost. Prepare a cost of production report for the packaging department of Company ABC for the month of December 2013 under FIFO method of process costing. So under FIFO, we have first in, first out so we pull those first 4,000 units from the beginning inventory of $5. n this supplement, we will give an example of the first-in, first-out (FIFO) method of process costing using the data for MVP Sports Equipment Company, which was given in Exhibit 4–4 in Chapter 4 of the textbook. 9 Production Cost Report for Desk Products' Assembly Department. January 5 Sold 2 bikes. True 7) Under process costing, the unit cost of the completed units is less than the unit cost of the incomplete units. When the goods are subject to spoilage or deterioration, FIFO is particularly appropriate. Based on the FIFO method, the first financially updated issue will be settled against the first financially updated receipt. Explain the flow of costs in a process cost system. The FIFO method bases its cost flow on the chronological order purchases are made, while the LIFO method bases it cost flow in a reverse chronological order. Consider the following example: Bike LTD purchased 10 bikes during January and sold 6 bikes, details of which are as follows: January 1 Purchased 5 bikes @ $50 each. (Note: Round the unit cost to four decimal places. The total costs account for may not be equal to the total costs to account for in the reconciliation. In retail businesses, cost of goods is the cost of the inventory the business sells. Definition of replacement cost method: Business valuation method in which its replacement cost (instead of its liquidation value) is considered which is usually higher than the book value (because depreciation is not taken into account). Under FIFO, if there is a sale, the units bought first at $1 per unit will be recorded as sold, followed by those bought at $2 per unit and lastly those bought at $2. Cost or Market Price, Whichever is Lower 3. This method assumes that inventory purchased or manufactured first is sold first and newer inventory remains unsold. Fixed costs of production are £100 per month, payable in the month. For both products, materials are added at the beginning of the production process, and conversion costs are incurred uniformly. In order to find out the cost of the products produced at a business enterprise, the cost which is accumulated at cost centers should be loaded on to products through appropriate allocation bases. Five widgets at $10 each = $50 Five widgets at $20 each = $100 Total number of widgets = 10 Sell five widgets using cost of first purchased at = $10 Have five widgets left in inventory using cost of last purchased = $20. Cost Flow Methods First –In, First –Out Method (FIFO) Assumes that materials used in production are costed at the prices paid for the oldest materials and the ending inventory is costed at the prices paid for the most recent purchases. If costs are decreasing, you pay a larger amount of income taxes in the near-term because the last items sold are the least expensive which lowers your cost of goods sold leading to a report of higher profits. The main principle of lean manufacturing is to reduce waste in an operation, such as long lead times, defects and material waste. COST CLASSIFICATIONS. C) debit to Purchases Returns and Allowances. Tender Statement 4. Process Costing (FIFO Method) - Chapter 6 Cost-Pert. Inventory cost method. Financial forecasts assist you to meet your business goals. 19 Add Solution to Cart Remove from Cart. Why? i posted a movement journal for 34 quantity at $750 and it shows 12,750 as financial cost amount. These costs are invoiced and added to the purchase cost. P's pre-production and production section 471 costs remaining in ending inventory at the end of 2018 are $1,000,000 (including $800,000 of direct material costs and $200,000. FIFO and LIFO are cost layering methods used to value the cost of goods sold and ending inventory. According to popular opinion, a more accurate description of the Cost-of-Sales would be to refer to it as “Cost of the Goods Sold”. Unless otherwise noted, all financial figures are unaudited, presented in Canadian dollars (Cdn$), and have been prepared in accordance with International Financial Reporting Standards, specifically International Accounting Standard 34 Interim Financial Reporting as issued by the International. Effect of Costing Methods on Valuing Inventory Decreases. Assume that all materials are added at the beginning of the process. Inventory costing methods allow you to determine the current value of the inventory items your company sells. But in most of the cases, the cost of sales consists almost entirely of variable costs. The cost of the 1,000 units in process at the end of the period if the first-in, first-out method is used to cost inventories was: a. I have used FIFO costing method for all items including finished products. Cost of Goods Sold = Beginning Inventory + Purchases during the year - Ending Inventory. Accountants create financial records of business transactions, and prepare statements containing the assets, liabilities, and operating results of a business. Posting Date Quantity Cost Amount (Actual) Entry No. They use the FIFO method. Based on Historical Cost: Valuation of inventory is made on a. First In/First Out (FIFO) Inventory Accounting Formula. Cost of Goods Sold - COGS: Cost of goods sold (COGS) is the direct costs attributable to the production of the goods sold in a company. Five of the cost accounting textbooks presented the weighted average assumption first, then the FIFO assumption; one presented the FIFO assumption first. Cost of goods sold is an expense charged against sales to work out a gross profit (see definition below). o Unit costs are applied to quantities to determine the total cost of the inventory and the cost of goods sold using the following costing methods: 1. The Cost variance A/c is credited/debited with the cost variance difference on posting of BOM Journal. Identifying Real Cost Saving in Lean Manufacturing Lean manufacturing is well-known as an effective means toward cost savings, but to convince management to support a culture shift to implement a lean manufacturing program there must be confidence in understanding what real effective and measurable lean savings are (Ruffa, 2008). Identify and explain any sustainability issues for the production of sugar. o Costs in beginning inventory are kept separate from costs incurred during the period. A process cost report helps managers track and analyze costs in a process costing system. Chapter 9 Inventories: Additional Valuation Issues· 9–5. Average Cost. It would be arbitrary to state that one method is either. Inventory costing methods allow you to determine the current value of the inventory items your company sells. The first in, first out (FIFO) method of inventory valuation is a cost flow assumption that the first goods purchased are also the first goods sold. There are three mothods of costing. Hatch Company. Higher- and Lower-Level Root Causes. Using the FIFO method Cost of Production Report.  Revelation Accounting Software. What is LIFO vs. Problem 8-58 (Static) Prepare a Production Cost Report and Show Cost Flows through Accounts: FIFO Method (LO 8-4, 5) In its Department R, Recyclers, Inc. In the Mixing Department in July,the cost of beginning work in process inventory was $1,460, the cost of ending work in process inventorywas $3,120, and the cost added to production was $36,540. Washington Corporation makes the following information available to you for the year 2016:. FIFO? Amid the ongoing LIFO vs. Conversion costs under the FIFO process cost method. LIFO and FIFO are the two most common techniques used in valuing the cost of goods sold Cost of Goods Sold (COGS) Cost of Goods Sold (COGS) measures the “direct cost” incurred in the production of any goods or services. In other words, the costs to acquire merchandise or materials are charged against revenues in […]. Under FIFO , the cost of the ending inventory is obtained by taking the unit cost of the most recent purchase and working backward until all units of inventory have been costed. 6) Production cost reports prepared using the first-in, first-out (FIFO) method assume that the first units started in the production process are the first units completed and transferred out. Inventory Turnover The inventory turnover ratio is a common measure of the firm’s operational efficiency in the management of its assets. With FIFO costing you can still report on the difference from a notional standard, but you will not see the variances reported in such a structured way. How Do I Calculate Inventory Value Using the LIFO Method?. The accounting system is not sufficiently sophisticated to track FIFO or LIFO. There were 7,500 units in the department's beginning work-in-process inventory, two-thirds. Part 4 of the cost of production report requires you to compute the costs accounted for, also called the cost reconciliation schedule. Six months later, you buy the same piece of inventory for $35. The ten items purchased on the 12th January have been sold along with three of the items purchased on the 20th January. 4) million and Adjusted EBITDA of $(29. Step 3: Cost per Equivalent Units. Again, note the hallmarks of the FIFO method: o Units in beginning inventory are kept separate from units started during the period. The LIFO method is used in the COGS (Cost of Goods Sold) calculation when the costs of producing a product or acquiring inventory has been increasing. The cost of goods sold (COGS), also referred to as the cost of sales or cost of services, is how much it costs to produce your products or services. Teach and learn basic accounting principles, bookkeeping skills, and methods. IAS 2, Inventories, allows companies to use one of two methods to calculate the cost price of their inventory: FIFO (first in, first out) In this method, the first (oldest) inventories acquired are assumed to be used first. IAS 2 Inventories contains the requirements on how to account for most types of inventory. LIFO and FIFO are the two most common techniques used in valuing the cost of goods sold Cost of Goods Sold (COGS) Cost of Goods Sold (COGS) measures the "direct cost" incurred in the production of any goods or services. A separate cost of production report is prepared for each processing department. FIFO Inventory Valuation in Excel - Step by Step. 00 per unit. The accounting system is not sufficiently sophisticated to track FIFO or LIFO. Under the First In, First Out (FIFO) method, the oldest costs are assigned to inventory items sold, regardless of whether the sold items were actually purchased at that cost. Under the First In, First Out (FIFO) method, the oldest costs are assigned to inventory items sold, regardless of whether the sold items were actually purchased at that cost. Cost of Goods Sold = 500 x (1-40%) = 300. Using our example above and the FIFO method, the value of our closing inventories would be calculated as follows: Using the First-In-First-Out method, our closing inventory comes to $1,100. The value of the cost of goods sold depends on the inventory costing method adopted by a company. Standard accounting principles allow for three common methods to calculate the cost of goods sold: the FIFO method, the LIFO method, and the Average Cost Method. This gives a weighted-average unit cost that is applied to the units in the ending inventory. Mixing and Cooking Department. FIFO - First In, First Out. (Round "cost per equivalent unit" to 2 decimal places. Chapter in NBER book Measurement of Business Inventories (1981), Murray F. The Washington Corporation is currently using first-in, first-out (FIFO) method of inventory valuation. The LIFO method of costing deals with the principle that materials entering production are the part of the most recent purchase. To make a proper estimation of Xtractor's cost of sales, the amount of decrease of the LIFO reserve needs to be added to the cost of sales. To compute equivalent units of production using the FIFO method of process costing, work for the current period must be stated in units. Required:Prepare a cash flow budget for the period 1 January 2021 to 30 June 2021 and indicate the closing balance as at 30 June 2021. This chapter presents process costing procedures and illustrates the weighted average and FIFO methods of calculating unit cost in a process costing system. (a) Use a production cost report using the FIFO method. More on FIFO. If these were $250 and $1,000, respectively, then the equivalent unit costs are about $6. 5 Process Costing (FIFO Method) 3. Companies often review each production process to ensure all costs or properly. View Notes - FIFO production cost report - Notes from COMM 305 at Concordia University. Demerits: (i) When there are price-fluctuations FIFO method makes the cost of production fluctuating from period to period,. Calculate equivalent units of production and product costs using the weighted-average cost method. Effect of Costing Methods on Valuing Inventory Decreases. 1 Answer to Jarvene Corporation uses the FIFO method in its process costing system. In the FIFO method, the item cost is managed by layers for each item. If you are new to AX and are going to be working with inventory and inventory value then it's worth taking the time to understand how AX calculates the running cost and what shows on the value reports. David Katz’ Assembly Department has materials cost at $3 per unit and conversion cost at $6 per unit. Therefore, FIFO results in a valuation of inventory that is closest to current replacement costs. If the FIFO inventory method was used last period, it should be used for the current and following periods because of. First-In, First-Out (FIFO) is one of the methods commonly used to estimate the value of inventory on hand at the end of an accounting period and the cost of goods sold during the period. Identify and interpret the significance of any global issues for the production of sugar. determined its chocolate inventory on a FIFO basis at $26,000 with a replacement cost of $20,000. The First-in, first-out (FIFO) process-costing method assigns the cost of the earliest equivalent units available (starting with the equivalent units in beginning work-in-process inventory. To unlock this lesson you must be a Study. Companies must choose one method and stick with it for at least a year, then get permission from the IRS to switch to a different method the following year. 50-per-gallon cost of gas to its Cost of Goods Sold account for the gallons actually sold, and the remaining amount of $2. Costs are classified according to their behavior. Vocabulario básico y avanzado del idioma Inglés. the method used to calculate the value of products or materials, in which the first ones that…. And during goods release, the goods from the first layer (open) and their corresponding cost are used. , the first goods purchased are the first sold or used); and the LIFO method matches the cost of the last goods purchased against revenue. Unlike the weighted-average method, the FIFO method does not commingle costs from two or more accounting periods. The IRS has detailed rules for which identification method you can use and when you can make changes to your inventory cost method. Frito-Lay, Inc. The consequence of this assumption is that the cost of units. Applying the FIFO Method to Our Example. Prepare a production report using the weighted-average cost method. 4) million and Adjusted EBITDA of $(29. Conversion costs under the weighted average process cost method; c. Five widgets at $10 each = $50 Five widgets at $20 each = $100 Total number of widgets = 10 Sell five widgets using cost of first purchased at = $10 Have five widgets left in inventory using cost of last purchased = $20. Again, note the hallmarks of the FIFO method: o Units in beginning inventory are kept separate from units started during the period. As a certified public accountant, Professor Garrison has been involved in management consulting work with both national. Higher- and Lower-Level Root Causes. For example, if you own a mutual fund that has 3 shares purchased at $5, $6, and $7; using the average cost method, we'll add up the purchase prices ($18), and divide it by the total shares in the fund (3), resulting in a cost basis of $6. Prepare a cost of production report for the packaging department of Company ABC for the month of December 2013 under FIFO method of process costing. FIFO, Average Cost and LIFO: On the tax side: If you use average cost for tax purposes, when an item is sold, the income for tax purposes will be the (selling. method and the first-in, first-out (FIFO) method 4. Pacocha Company uses the FIFO method to compute equivalent units. FIFO, Average Cost and LIFO: On the tax side: If you use average cost for tax purposes, when an item is sold, the income for tax purposes will be the (selling. Under the LIFO method, the last inventory items acquired or added to inventory are the first sold. If costs are decreasing, you pay a larger amount of income taxes in the near-term because the last items sold are the least expensive which lowers your cost of goods sold leading to a report of higher profits. It is not only the source for summary journal entries at the end of the month but also a most convenient vehicle for presenting and disposing of costs accumulated during the month. Like FIFO, this method recovers cost from production because actual cost of material is charged to production. The first-in, first-out method approximates the specific identification method when the physical flow of goods is on a FIFO basis. Definition of replacement cost method: Business valuation method in which its replacement cost (instead of its liquidation value) is considered which is usually higher than the book value (because depreciation is not taken into account). To put it real bluntly, the average cost method is rarely used. Compute the equivalent units for the conversion cost calculation. The following data are for the most recent month of operations in one of the company’s processing departments: - 4272817. Despite the higher CoGS that results from this relative to the FIFO method. (a) The average-cost method assumes that inventories are sold or issued evenly from the stock on hand; the FIFO method assumes that goods are sold or used in the order in which they are purchased (i. This gives a weighted-average unit cost that is applied to the units in the ending inventory. Under this method, known as FIFO, the first unit added to inventory is assumed to be the first one used. The First-In, First-Out (FIFO) method assumes that the first unit making its way into inventory-or the oldest inventory-is the sold first. cost of goods sold (FIFO) = 4 units x $1 + 2 units x $2 = $8. In comparison to other inventory cost flow formulas and valuation methods, FIFO has advantages in some aspects but it is not without disadvantages in some situations. 1) with FIFO, the cost price of the raw materials are in a flux so will it automatically reflect on the bom price, especially when you run the production bom where the report as finished is coming from the estimated cost of you bom ( material, labor and OVH). The company uses the FIFO method in its process costing system. This doesn't seem like much of an accounting trick at first. This methodology ensures that when goods are received, a step-like arrangement or layer that is based on cost, quantities and entry date is created. These costs are invoiced and added to the purchase cost. (Round "cost per equivalent unit" to 2 decimal places. Inventory Valuation Methods. Since the theory perfectly matches to the actual flow of goods, therefore it is considered as the right way to value inventory. The report should disclose the physical flow of units, equivalent units, and unit costs and should track the disposition of manufacturing costs. Therefore, it results in poor matching on the income statement as the revenue generated from the sale is matched with an older, outdated cost. The first in, first out (FIFO) method of inventory valuation is a cost flow assumption that the first goods purchased are also the first goods sold. Basis definition is - the bottom of something considered as its foundation. Computing Inventory Turnover Average Inventory COGS Inventory Turnover = (1,060,164 1,214,622)/2 1,172,646 + = =1. Accordingly, inventory decreases are valued by taking the value of the first inventory increase. Cost of Goods Sold - COGS: Cost of goods sold (COGS) is the direct costs attributable to the production of the goods sold in a company. The First-in, first-out (FIFO) process-costing method assigns the cost of the earliest equivalent units available (starting with the equivalent units in beginning work-in-process inventory. Standard Costing Overview. Companies must choose one method and stick with it for at least a year, then get permission from the IRS to switch to a different method the following year. The Federal Government Awarded A Grant To A Local Government In The Amount Of. Required:Prepare a cash flow budget for the period 1 January 2021 to 30 June 2021 and indicate the closing balance as at 30 June 2021. Process Costing: An Overview Process costing is an approach of cost accumulation. What is Weighted Average 4. The Kaizen method and technique are valuable instruments that can be used to. on the previous page. Account for scrap! 644 18 Spoilage, Rework, and Scrap 1 Sources: Lunsford, J. determined its chocolate inventory on a FIFO basis at $26,000 with a replacement cost of $20,000. On the General tab, under Report as finished, select the Use estimated cost price check. Job Order Costing; 3. It includes material cost, direct labor cost, and direct factory overheads, and is directly proportional to revenue. Accountants create financial records of business transactions, and prepare statements containing the assets, liabilities, and operating results of a business. 6) Production cost reports prepared using the first-in, first-out (FIFO) method assume that the first units started in the production process are the first units completed and transferred out. The value of the cost of goods sold depends on the inventory costing method adopted by a company. If you are new to AX and are going to be working with inventory and inventory value then it’s worth taking the time to understand how AX calculates the running cost and what shows on the value reports. 45] and about $16. Let's assume Company XYZ incurs the following costs to produce one pair of eyeglasses: Item Cost Plastic frame $10 Lenses $5 Glue $1. Prepare a Production Cost Report: FIFO Method (LO 8-2, 4, 5) Lansing, Inc. FIFO, Average Cost and LIFO: On the tax side: If you use average cost for tax purposes, when an item is sold, the income for tax purposes will be the (selling. provides the following information for one of its department's operations for June (no new material is added in Department T): WIP inventory—Department T Beginning inventory (15,000 units, 60% complete with respect to Department T costs) Transferred-in costs (from Department S) $ 116,000 …. required to allocate indirect costs using either a specific identification method, a standard cost method, a burden rate method, or any other reasonable allocation method (as defined under the principles of § 1. Unlike the weighted-average method, the FIFO method does not commingle costs from two or more accounting periods. In a cost of production report using process costing, transferred-in costs are similar to the cost of material added at the beginning of production In a process costing system, the journal entry to record the transfer of goods from Department #2 to Finished Goods Inventory is a. In the department's cost reconciliation report for November, the total cost to be accounted for would be: a) $890,000 b) $71,000 c) $463,000. The purpose of this white paper is to provide insight to cost management in Microsoft Dynamics AX 2009 and to provide a better understanding of the consequences of some of the choices that have been made in the implementation and set up of Microsoft Dynamics AX 2009 for cost management. 34 - FIFO Method, Single Department Analysis, One Cost Category. These methods are thus examples of indirect costing. Pacocha Company manufactures bicycles and tricycles. You can change the monetary amount for any cost method at any time except for cost method 07 (standard). In the Mixing Department in July,the cost of beginning work in process inventory was $1,460, the cost of ending work in process inventorywas $3,120, and the cost added to production was $36,540. method and the first-in, first-out (FIFO) method 4. If you have used method 1, you generally must report the interest on these bonds on your 2019 return. Inventory account. There are three mothods of costing. And, the next to move has the value of the item on hand second-longest, and so on. The cost of the 150 goods sold is $300 (150 x $2). What is Weighted Average 4. 2 Equivalent Units (Weighted Average) 3. Yield measures the ratio of the materials output quantity to the materials input quantity. In this supplement to Managerial Accountingwe will illustrate the first-in, first-out (FIFO) method of process costing using the data for MVPSports Equipment Company, which was given in Exhibit 4-4 in Chapter 4 of the text. 2 Supplement 4A Process Costing: The First-In, First-Out Method Step 4: Analysis of Total Costs To complete the process-costing procedure, we determine the total cost to be transferred out of the Cutting Department's work-in-process inven-tory account and into the Stitching Department's work-in-process inventory account. COST CLASSIFICATIONS. Hatch Company. Production Cost Report. The way in which the costs of beginning inventory are treated. Again, note the hallmarks of the FIFO method: o Units in beginning inventory are kept separate from units started during the period. companies on LIFO report lower gross margins and EPS than. With FIFO costing you can still report on the difference from a notional standard, but you will not see the variances reported in such a structured way. Conversion costs under the FIFO process cost method. Index Corporation uses the FIFO method in its process costing system. 7 Accounting in the Headlines. Prepare a production report using the weighted-average cost method. Required:Prepare a cost reconciliation report for the Mixing Department for July. Cost of Production Report (CPR): Definition and Explanation of Cost of Production Report (CPR): A departmental cost of production report (CPR) shows all costs chargeable to a department. Compute equivalent units. Cost of Goods Sold - COGS: Cost of goods sold (COGS) is the direct costs attributable to the production of the goods sold in a company. Allocation and apportionment are accounting methods for attributing cost to certain cost objects for budgeting, planning, and financial reporting. Cost assignments with these methods rely on rules or formulas instead of measured resource usage. Actual Costs, on the other hand, are those realized during the period and compared at the end of the period. Indirect and Overhead Production Costs and the Problem of Full Cost Absorption Murray F. Statement of Cost 2. Using the FIFO method, determine the equivalent units of production for materials and conversion costs by compiling the "Quantity Schedule and Equivalent Units" portion of the production report Fuller Inc. Under FIFO, when 60 cans leave inventory, the firm reports them as 60 of the 75 "January" cans. Thus the inventory values reported in the balance sheet are more realistic as they are based on the most recently incurred costs. So the cost of the older inventory is assigned to the cost of goods sold and the cost of the newer inventory is assigned to ending inventory. To apply the FIFO method, you execute a material cost accumulation run on a periodic basis, which collects the costs involved in purchasing or producing the selected materials. § First-in, First-out (FIFO) method assumes that the earliest goods purchased are the first to be sold. shows equivalent units of production but not physical units. Under the FIFO cost flow assumption, it is assumed that the costs that enter first in the department exit first. The May 31 inventory in Department B (June's beginning work in process) consists of 2,000 units that are fully. Process costing is used when there is mass production of similar products, where the costs associated with individual units of output cannot be differentiated from each other. B) credit to Purchases. For example, let's say that a bakery produces 200. Unlike the weighted-average method, the FIFO method does not commingle costs from two or more accounting periods. Therefore, inventory cost under FIFO method will be the cost of latest purchases. Financial forecasts assist you to meet your business goals. This would. It is important that these counts be 100% accurate. Bahan Pekerja Overhead EU pada saldo awal barang dalam proses 0 108 144 144 EU yang dimulai & diselesaikan pd periode ini 400 400 400 400. Using the FIFO method, you have 17 items remaining at a cost price of £16. FIFO (just as the name suggests) is where the first items in are the first items out; meaning the oldest stock is always being sent out first. The book illustrates the weighted-average cost method, although other techniques (FIFO) are possible. A cost of production report provides a composite view of the entire process costing method, and gives rise to a series of journal entries. The cost of production report provides comprehensive information on the material, labor, and overhead incurred within each department during a period. Posting Date Quantity Cost Amount (Actual) Entry No. Cost of goods sold is an expense charged against sales to work out a gross profit (see definition below). The report has the following justifications: (1) it provides documentation for what's been received, (2) it assigns responsibility by being signed by the receiving clerk, (3) it provides a cost breakdown on direct and indirect purchases which are needs for the daily tracking of cost of sales and (4) it provides internal documentation when. First in first out inventory control - FIFO. 00, the conversion adjustment becomes USD 0. Like FIFO method, this is simple to operate and is useful when transactions are not too many and the prices are fairly steady. Lean Six Sigma methods have been shown to be very effective in finding and eliminating root causes, and thus preventing arbitrary year-end reductions in inventory investment. Process Costing (FIFO Method) – Chapter 6 Cost-Pert. $5,520 > c 55. Therefore, inventory cost under FIFO method will be the cost of latest purchases. (a) The average-cost method assumes that inventories are sold or issued evenly from the stock on hand; the FIFO method assumes that goods are sold or used in the order in which they are purchased (i. #1 - FIFO (First in First Out Method) Under First in First Out Inventory Method, the first item purchased is the first item sold which means that the cost of purchase of the first item is the cost of the first item sold which results in closing Inventory reported by the business on its Balance sheet showing the approximate current cost as its. Required:Prepare a cost reconciliation report for the Mixing Department for July. provides the following information for one of its department's operations for June (no new material is added in Department T): WIP inventory—Department T Beginning inventory (15,000 units, 60% complete with respect to Department T costs) Transferred-in costs (from Department S) $ 116,000 Department T conversion. n this supplement, we will give an example of the first-in, first-out (FIFO) method of process costing using the data for MVP Sports Equipment Company, which was given in Exhibit 4–4 in Chapter 4 of the textbook. In the department's cost reconciliation report for November, the total cost to be accounted for would be: a) $890,000 b) $71,000 c) $463,000. For example, if you own a mutual fund that has 3 shares purchased at $5, $6, and $7; using the average cost method, we'll add up the purchase prices ($18), and divide it by the total shares in the fund (3), resulting in a cost basis of $6. During the month, $427,000 of costs was added to production and the cost of units transferred out from the department was $428,000. Every adjustment must flow up all levels of the bill of materials (BOM). The solution contains the cost of production report using FIFO by computing the equivalent production in case of work -in -process units. LO 8-3 Assign costs to products using weighted-average costing. Bike LTD purchased 10 bikes during January and sold 6 bikes, details of which are as follows: January 1 Purchased 5 bikes @ $50 each. Ford Motor Co. It is important that these counts be 100% accurate. 93) Deluth Corporation has a normal gross profit of 40%. )(Hint: For the second department, you must convert gallons to capsules. First-In, First-out Method. The First-In, First-Out (FIFO) method assumes that the first unit making its way into inventory-or the oldest inventory-is the sold first. The Cutting Department of Tangu Carpet Company provides the following data for December 2014. Process costing is used when there is mass production of similar products, where the costs associated with individual units of output cannot be differentiated from each other. 50 each, therefore your closing stock figure for January is £280. The cost of production report provides comprehensive information on the material, labor, and overhead incurred within each department during a period. The cost of the 1,000 units in process at the end of the period if the first-in, first-out method is used to cost inventories was: a. The cost of production report (CPR) is a document used in process costing system that summarizes the information about the flow of units and costs through the work in process account of a processing department. The Following Information Was Obtained For The Fabrication Department For June: Work In Process, June 1, Had 90,000 Units. Step 2 Prepare a statement of costs per equivalent unit Costs Weighted average FIFO Material Lab and O/hd Material Lab and O/hd $ $ $ $ Op WIP 235 520 Input 8,405 6,200 Input 8,405 6,200 8,640 6,720 8,405 6,200 Cost per equivalent unit 8,640/3,600 6,720/3,200 Cost per equivalent unit. The difference between the cost of an inventory calculated under the FIFO and LIFO methods is called the LIFO reserve (in the example above, it is $750). Delek US reported first quarter 2020 net loss of $(314. They are a future prediction of your business finances, as compared with statements, which provide details of actual results or progress. FIFO, which stands for "first-in, first-out," is an inventory costing method that assumes that the first items placed in inventory are the first sold. You may also be interested in: Flow of Materials, Labor and Overhead Cost Under Process Costing system; Cost of Production Report-Weighted Average Method; Cost of Production Report FIFO Method; Job order costing system. Companies recognizing the need to simultaneously produce products with high quality, low cost, and instant availability have adopted a just-in-time processing philosophy. Unless otherwise noted, all financial figures are unaudited, presented in Canadian dollars (Cdn$), and have been prepared in accordance with International Financial Reporting Standards, specifically International Accounting Standard 34 Interim Financial Reporting as issued by the International. FALSE A process costing production report prepared using the weighted-average method is simpler and less costly to prepare. FIFO Inventory Valuation in Excel – Step by Step. AX 2012 | moving average costing method - Part 4 In this part we will discuss production costing with moving average. FIFO method of accounting saves time and money spend in calculating the exact inventory cost that is being sold because the recording of inventory is done in the same order as they are purchased or produced. The Federal Government Awarded A Grant To A Local Government In The Amount Of. 8 ---Page 3 of 3 ASSEMBLY DEPARTEMENT Unit Equivalent dari Biaya Periode Berjalan (Equivalent Unit of Current Period Cost) : Dari Dept. Five of the cost accounting textbooks presented the weighted average assumption first, then the FIFO assumption; one presented the FIFO assumption first. Practice test – 28 Based on the following process line prepare a cost of production report under – (a) Weighted average method (b) FIFO method Units Started 1,30,000 units Direct Material (30%) Direct Material 18,000 (70%) units 60,000 units EWIP Units Completed 17 | P a g e. Question: Using The FIFO Method Cost Of Production Report The Cutting Department Of Tangu Carpet Company Provides The Following Data For December 2014. Use the Individual Input Information worksheet to calculate the numbers to use in your production cost reports. FIFO and LIFO are cost layering methods used to value the cost of goods sold and ending inventory. Rutgers Accounting Web 31,955 views. Thus the inventory values reported in the balance sheet are more realistic as they are based on the most recently incurred costs. 50 per unit. Weighted Average Method, FIFO Method, Physical Flow, Equivalent Units Heap Company manufactures a product that passes through two processes: Fabrication and Assembly. Its beginning inventory included $74,075 of direct materials cost and $28,493 of conversion cost. Teach and learn basic accounting principles, bookkeeping skills, and methods. You can prevent standard costs from being changed by setting the processing option. method and the first-in, first-out (FIFO) method 4. Production cost reports vary somewhat in level of detail provided,. It includes material cost, direct labor cost. The purpose of this white paper is to provide insight to cost management in Microsoft Dynamics AX 2009 and to provide a better understanding of the consequences of some of the choices that have been made in the implementation and set up of Microsoft Dynamics AX 2009 for cost management. Conversion costs 32,490 2,545. We only use the costs incurred during the current period. Required:Prepare a cash flow budget for the period 1 January 2021 to 30 June 2021 and indicate the closing balance as at 30 June 2021. This schedule computes the cost of goods transferred out (based on the number of units transferred out times the cost per equivalent unit calculated in Part 3) plus the cost of WIP inventory remaining in the department at the end of the month. Accountants create financial records of business transactions, and prepare statements containing the assets, liabilities, and operating results of a business. The first 2,000 units sold from Batch 1 cost $4. To unlock this lesson you must be a Study. Process Costing: An Overview Process costing is an approach of cost accumulation. For example, the company has 1,000 pieces at $2 each, 2,000 pieces at $2. David Katz’ Assembly Department has materials cost at $3 per unit and conversion cost at $6 per unit. Table of Contents. Under the FIFO method. Statement of Cost: Statement of cost is a tabulated statement which shows the production cost of fixed quantity of a product, which is related to the production in a fixed time. Cost of Production Report FIFO: Beginning inventory costs are kept separate and the new costs necessary to complete the work in process inventory computed ; Average Costing Method Versus FIFO Costing Method - Process Costing: Both average costing and FIFO costing have certain advantages. In particular, under the sales method, the $3,000 received from the sale of the coal tar is added to the overall revenues, so that Cumberland’s overall gross margin is $57,000, as in the production method. Actual Costs, on the other hand, are those realized during the period and compared at the end of the period. With FIFO costing you can still report on the difference from a notional standard, but you will not see the variances reported in such a structured way. 2: Microsoft Dynamics AX 2012 R3 – Price compare report. This method assumes that inventory purchased last is sold first. on the previous page. o Unit costs are applied to quantities to determine the total cost of the inventory and the cost of goods sold using the following costing methods: 1. Last-in, first-out (LIFO) 4. 263A costs using either of the following: (1) the ratio of direct material costs to total Sec. Why? i posted a movement journal for 34 quantity at $750 and it shows 12,750 as financial cost amount. Inventory Cost - FIFO Method: First-In First-Out is one of the methods commonly used to evaluate the inventory value on hand at the end of a financial period and the cost of goods sold during that accounting period. 2 Supplement 4A Process Costing: The First-In, First-Out Method Step 4: Analysis of Total Costs To complete the process-costing procedure, we determine the total cost to be transferred out of the Cutting Department's work-in-process inven-tory account and into the Stitching Department's work-in-process inventory account. Valuation of Inventory: Method # 1. This schedule computes the cost of goods transferred out (based on the number of units transferred out times the cost per equivalent unit calculated in Part 3) plus the cost of WIP inventory remaining in the department at the end of the month. The federal government awarded a grant to a local government in the amount of $1,050,000 to provide a summer youth employment program for young people. AX doesn't seem to take the purchase cost of that item into account while calculating the running average cost. (Assume no loss of units in production and that inventories are costs by the first-in, first-out method. Unfortunately, the FIFO model fails to present an accurate depiction of the costs when there is a rapid hike in prices. Under LIFO, the gasoline station would assign the $2. Why? i posted a movement journal for 34 quantity at $750 and it shows 12,750 as financial cost amount. There is an opening stock of 5,000 units @ 26/unit; The current period production is 20,000 units @ 30 per unit and the closing stock is 2,000 units whose value is to be ascertained by choosing an appropriate rate for valuation. Fixed costs of production are £100 per month, payable in the month. year 2, Chewy Co. A separate cost of production report is prepared for each processing department. The equation for average cost method is as. And during goods release, the goods from the first layer (open) and their corresponding cost are used. ’s inventory value on Dec 31, 2019 would be $10,786 (in millions) if the FIFO inventory method was used instead of LIFO. The Following Information Was Obtained For The Fabrication Department For June: Work In Process, June 1, Had 90,000 Units. The average cost is computed by dividing the total cost of goods available for sale by the total units available for sale. Weighted average costing is commonly used in situations where: Inventory items are so intermingled that it is impossible to assign a specific cost to an individual unit. FIFO and LIFO accounting methods are used for determining the value of unsold inventory, the cost of goods sold and other transactions like stock repurchases that need to be reported at the end of the accounting period. We are using FIFO method for Raw material and std. Using FIFO, the first items placed in inventory are the first items removed (First In, First Out). Under the FIFO method, we assume any units that were not completed last period (beginning work in process) are finished before anything else is started. first in, first out definition: 1. 1 Recording LCNRV loss as cost of goods sold and directly in inventory. Note: Inventories are described in the Company's latest 10-K filing. For the calculation we use the formula: the purchase price + transport costs in monetary terms + duty in monetary terms. ’s inventories, valued on a LIFO basis, on Dec 31, 2019 were $10,786. This ready-made report template is perfect for making documents that detail the total cost of production, including raw materials and operating costs. Weighted-Average Method 4-57 The FIFO method (generally considered more accurate than the weighted-average method) differs from the weighted-average method in two ways: 1. FIFO Inventory Valuation in Excel – Step by Step. includes costs in beginning inventory and current period costs to establish an average. The following data concern the operations of the company's first processing department for a recent month. 7) millionReducing 2020 capital expenditures by approximately $75 million representing a 23% decreaseImproving cost. This method assumes that inventory purchased first is sold first. First In First Out (FIFO) Under FIFO, as items leave inventory, the accountant proceeds as though the single unit in stock for the longest time goes first. The average cost is computed by dividing the total cost of goods available for sale by the total units available for sale. Chewy estimated that, after further processing costs of $12,000, the chocolate could be sold as fnished candy bars for $40,000. The First-In, First-Out (FIFO) method assumes that the first unit making its way into inventory-or the oldest inventory-is the sold first. The following information was obtained for the Fabrication Department for September: All materials are added at the beginning of the process. Total cost is the relationship between production quantity and costs, expressed as: Total cost = Fixed Cost + Variable Cost * Output. For AX2009/AX2012 Standard Costing can report on Production cost variances from Standard in considerable detail, identifying where and why (lot size, material quantity) the variance has occurred. The report has the following justifications: (1) it provides documentation for what's been received, (2) it assigns responsibility by being signed by the receiving clerk, (3) it provides a cost breakdown on direct and indirect purchases which are needs for the daily tracking of cost of sales and (4) it provides internal documentation when. Valuation of Materials using FIFO Method Applies to: 4. Small costs reductions due to application of sound inventory management principles resulted in very significant increase (28%) in net income! Lower cost of goods sold is achieved by making the inventory smaller and therefore turn more often; while making sure that stocks are large enough will result in increased sales because products are. 50-per-gallon cost of gas to its Cost of Goods Sold account for the gallons actually sold, and the remaining amount of $2. Definition and explanation. Use this icon when processes are connected with a FIFO system that limits input. In this chapter, we discuss the weighted-average method. UNFtannertown 4,897 views. These methods differ only in the treatment of beginning inventory units and costs. Cost or Market Price, Whichever is Lower 3. 2 Supplement 4A Process Costing: The First-In, First-Out Method Step 4: Analysis of Total Costs To complete the process-costing procedure, we determine the total cost to be transferred out of the Cutting Department's work-in-process inven-tory account and into the Stitching Department's work-in-process inventory account. The book illustrates the weighted-average cost method, although other techniques (FIFO) are possible. Under the FIFO cost flow assumption, it is assumed that the costs that enter first in the department exit first. How to use basis in a sentence. The key difference between FIFO and weighted average is that FIFO is an inventory valuation method where the first purchased goods are sold first whereas weighted average method uses the average inventory levels to calculate inventory value. The IFRS doesn’t allow the use of the LIFO method. I am getting difference in raw material actual cost and 1 service item actual cost from that of the estimated cost. Production Cost Report. If you bought 10 items in January at $1, 10 more in April at $2, and 10 more in July at $3, then sold 15 total during the year, your cost of goods sold would be $20. The COGS calculation process allows you to deduct all the costs of the products you sell,. Most companies use either the weighted average or first-in-first-out (FIFO) method to assign costs to inventory in a process costing environment. This method assumes that inventory purchased last is sold first. A cost of production report provides a composite view of the entire process costing method, and gives rise to a series of journal entries. This method assumes that inventory purchased first is sold first. So, Mike's COGS calculation is as follows: 200 units x $800 = $160,000; 300 units x $825 = $247,500; 200 units x $850 = $170,000; 300 units x $875. Costs are recorded by department according to the following procedures: Service department costs are allocated to the production departments. This approach represents a simplified alternative to cost layering systems, such as the FIFO and LIFO methods, where large amounts of historical cost. All manufacturing costs are added uniformly. 2: Microsoft Dynamics AX 2012 R3 – Price compare report. A company uses the FIFO inventory cost-flow assumption. In Appendix 4A, we discuss the FIFO method. using FIFO, LIFO or AVCO methods). Compute equivalent units. cost of goods sold (FIFO) = 4 units x $1 + 2 units x $2 = $8. For example, let's say that a bakery produces 200. Backflush costing allows companies to measure the true and complete costs of a production run by allowing all the associated costs of a production run to be recorded at the end of the process rather than before, during or after. Bahan Pekerja Overhead EU pada saldo awal barang dalam proses 0 108 144 144 EU yang dimulai & diselesaikan pd periode ini 400 400 400 400. Standard costing involves the creation of estimated (i. (NYSE: DK) (“Delek US”) today announced financial results for its first quarter ended March 31, 2020. 5 Process Costing (FIFO Method) Another acceptable method for determining unit cost under process costing is the first-in, first-out (FIFO) cost method. Value Total kg per kg value kg per kg value kg per kg value €/£ €/£ €/£ € / £ €/£ €/£ 01-Aug 1,000 9. The Global FIFO Memory Chips Market Research Report Forecast 2017-2021 is a valuable source of insightful data for business strategists. And during goods release, the goods from the first layer (open) and their corresponding cost are used. Cost of Goods Sold - COGS: Cost of goods sold (COGS) is the direct costs attributable to the production of the goods sold in a company. Absorppytion Inventory Method Reqqpuired prior to enactment of Sect. In particular, under the sales method, the $3,000 received from the sale of the coal tar is added to the overall revenues, so that Cumberland’s overall gross margin is $57,000, as in the production method. Required:Prepare a cash flow budget for the period 1 January 2021 to 30 June 2021 and indicate the closing balance as at 30 June 2021. Standard costing is the practice of substituting an expected cost for an actual cost in the accounting records. January 5 Sold 2 bikes. Generally, repair costs incurred to keep equipment or facilities used in production activities in an. Units started during the period 17,000. The benefit of FIFO is that it can help a company ensure the remaining inventory balance on its balance sheet reflects present market value. With FIFO, if inventory costs are increasing your cost of goods sold will be lower than under the LIFO (last in first out) method. To reduce cost and remain competitive with manufacturers abroad, companies use a variety of different methods. Traditional costing is a costing method used to allocate overhead costs based on a single cost driver according to the consumption of a volume of production resources. First-in, first-out, or FIFO, and last-in, first-out, or LIFO, are two of the most commonly used inventory valuation methods. FIFO, which stands for "first-in, first-out," is an inventory costing method that assumes that the first items placed in inventory are the first sold. When the cost breakdown is active, if you activate a manufactured item's cost, the cost group segmentation will be stored in the item's cost record. The result is then divided by the number of weighted price categories to arrive at a weighted inventory cost level. To unlock this lesson you must be a Study. As can be seen from above, AVCO method allocates cost on the average cost of purchases during the period. The main principle of lean manufacturing is to reduce waste in an operation, such as long lead times, defects and material waste. The president wants to know the effect of a change in inventory valuation method from first-in, first-out (FIFO) to last-in, first-out (LIFO) method. FIRST IN, FIRST OUT (FIFO) FIFO: This inventory method matches sales with inventory by matching revenue from the first sale with the costs associated with the first product that was made; first in, first out. When a company assigns costs to an equivalent unit of production, the simplest method is by using the weighted-average cost of beginning inventory and adding new cost in additional purchases of. Equivalent Production - First-In, First-Out (FIFO) Method This method assumes that the costs of the current period are first applied to complete the beginning units in process, then to start and finish a number of units, and finally to start other units that are still in process. Using either method, your total cost for 10 bags of cement was $150, and your total profit is $350. It sells the products at cost. FIFO is an alternate method used to account for inventory costs. A process cost report helps managers track and analyze costs in a process costing system. Problem 2: Glass Company manufactures a product through a continuous single-step process. Other system adjustments for the actual cost may also cause the changes. Since the entire production is sold during the period, the overall gross margin is the same under the production and sales methods. Take the total costs of $101,800, and divide by the number of units. (Assume no loss of units in production and that inventories are costs by the first-in, first-out method. then only normal portion will be added to the cost of inventory. This amount includes the cost of the materials used in. Consider the following example: Bike LTD purchased 10 bikes during January and sold 6 bikes, details of which are as follows: January 1 Purchased 5 bikes @ $50 each. The Kaizen method and technique are valuable instruments that can be used to. y3dl095tflnvo5g, gv9igsu56nwx, 3famfmnmktg21, dlruvjv89tit, tfeqfxfsqxs, pd3q9m7sosf31zm, c6vkqf0pogndgkf, wcpki9wkn07mxs1, csbnt8hiu1s6uc, dzmivjl7oxf01rv, 9iatmrd4tqapa, 8d7rw9fwr1bcko, 6d72c3060wx, 5nxkxsa8m6s0, 2s52r16xvzurph, 63f9jg7dyt, gb8itxwapi9q, m9tvuc279go, vn1o7s15sog, 7qhzoj6xoa4m, vkizyovogkm8, xix40j253h, e9lvrkfpbh22nun, zvl41qpz11i, 29yce2mkheb7, 017k53fi2p, 8g774fcvc2m0g, 4691buuekh, 2spsjungpvjcmcz, u6wa5whpm1, pat1qh85pc0f, hjl08ma2l8rq5, utrwlr2ojaxzfy, s6s8aatktt5yx, t1p7vny0ht