November Costs incurred: Process A Process B Process C 407,030.00 303,426.00 242,946.00 953,402 494 459 354,492 Materials Direct Labor Overhead 299,229 301,915 238,560 241,735 Total 1,032,248 898,142 |70% at the beginning of the 50% at beginning, 50% 40% at beginning, additional 30% at 40% complete, and remaining 30% at 80% complete. Materials are added at: process; remaining 30% at at 80% conversion. 60% conversion. Started/Transferred in (units) Completed (units) 100,000 ? ? ? 4,000 units at 40% converted. 3,000 units at 30% converted. 3,000 units at 50% converted. In process, end (units) and stage of completion
November Costs incurred: Process A Process B Process C 407,030.00 303,426.00 242,946.00 953,402 494 459 354,492 Materials Direct Labor Overhead 299,229 301,915 238,560 241,735 Total 1,032,248 898,142 |70% at the beginning of the 50% at beginning, 50% 40% at beginning, additional 30% at 40% complete, and remaining 30% at 80% complete. Materials are added at: process; remaining 30% at at 80% conversion. 60% conversion. Started/Transferred in (units) Completed (units) 100,000 ? ? ? 4,000 units at 40% converted. 3,000 units at 30% converted. 3,000 units at 50% converted. In process, end (units) and stage of completion
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
In using average method, Cruz Company produces a product that undergoes three processes and the completed items at end of process 3 are the items to be sold to customers. For November 2021, Cruz Company presented the following costs on three processes:
what is the cost of inventory transferred out from Department B?
P1,943,390
P2,002,830
P2,061,122
None of the above
Transcribed Image Text:November Costs incurred:
Process A
Process B
Process C
407,030.00
303,426.00
242,946.00
953,402
494 459
354,492
Materials
Direct Labor
Overhead
299,229
301,915
238,560
241,735
Total
1,032,248
898,142
|70% at the beginning of the 50% at beginning, 50% 40% at beginning,
additional 30% at 40%
complete, and remaining
30% at 80% complete.
Materials are added at:
process; remaining 30% at at 80% conversion.
60% conversion.
Started/Transferred in (units)
Completed (units)
100,000
?
?
?
4,000 units at 40%
converted.
3,000 units at 30% converted.
3,000 units at 50% converted.
In process, end (units) and
stage of completion
Expert Solution
Step 1
In the process costing goods are transferred from one department to other after calculating all the costs and allocating them to necessary produced goods and remaining work-in-progress.
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