Pink Company manufactures Product X in a two stage production cycle in Departments 1 and 2.Materials are added at the beginning of the process in Department 2. Pink uses the averagecosting method. Conversion costs for Department 2 were 50% complete as to the 6,000 units inthe beginning work in process and 75% complete as to the 8,000 units in ending work inprocess. A total of 12,000 units were completed and transferred out of Department 2 duringMay. An analysis of the costs relating to work in process and production activity in Department2 for May follows:Transferred In CostsMaterials CostsConversion CostsWork in process, May 1:Costs attachedP12,000P2,500P1,300May production:Costs added29,0005,5005,000What is the total cost of the units completed and transferred out for May of Product X?а. Р27,500b. P30,500с. Р3,600d. P20,500

Name: Pink Company manufactures Product X in a two stage production cycle i
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Description: Pink Company manufactures Product X in a two stage production cycle in Departments 1 and 2.Materials are added at the beginning of the process in Department 2. Pink uses the averagecosting method. Conversion costs for Department 2 were 50% complete

Equivalent units means units that are completed or completely manufactured in the particular period…

Business

Accounting

2 for May follows: Transferred In Costs Materials Costs Conversion Costs Work in process, May 1: Costs attached P12,000 P2,500 P1,300 May production: Costs added 29,000 5,500 5,000 What is the total cost of the units completed and transferred out for May of Product X? а. Р27,500 b. P30,500 с. Р33,600 d. P20,500

2 for May follows: Transferred In Costs Materials Costs Conversion Costs Work in process, May 1: Costs attached P12,000 P2,500 P1,300 May production: Costs added 29,000 5,500 5,000 What is the total cost of the units completed and transferred out for May of Product X? а. Р27,500 b. P30,500 с. Р33,600 d. P20,500

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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