Chapter 10 Process CostingEllery Company instituted a new process in October, 2016. During October 10,000units were started in Department A. Of the units started, 1,000 were lost by shrinkagein the process, 7,000 were transferred to Dept. B, and 2,000 remained in work inprocess at October 31. The work in process at Oct. 31 was 100% complete as tomaterials and 50% complete as to conversion cost. Materials costs of P27,000 andconversion costs of P 40,000 were charged to Department A in October.13. What were the total costs transferred to Dept. B7a. P 53,900b. P 56,000c. P61,600d. P 62,00014. What were the costs of the units in process, October 31?a. P10,400b. P11,000e. P15,000d. P18,100

Cost accounting is widely used by the management and the cost accountants to determine the cost per…

Chapter Ellery Company instituted a new process in October, 2016. During October 10,000 units were started in Department A. Of the units started, 1,000 were lost by shrinkage in the process, 7,000 were transferred to Dept. B, and 2,000 remained in work in process at October 31. The work in process at Oct. 31 was 100% complete as to materials and S0% complete as to conversion cost. Materials costs of P27,000 and conversion costs of P 40,000 were charged to Department A in October. 13. What were the total costs transferred to Dept. B7 a P 53,900 b. P 56,000 e P61,600 d. P62,000 14. What were the costs of the units in process, October 317 a P10,400 b. P11,000 e. P15,000 4. P18,100

Chapter Ellery Company instituted a new process in October, 2016. During October 10,000 units were started in Department A. Of the units started, 1,000 were lost by shrinkage in the process, 7,000 were transferred to Dept. B, and 2,000 remained in work in process at October 31. The work in process at Oct. 31 was 100% complete as to materials and S0% complete as to conversion cost. Materials costs of P27,000 and conversion costs of P 40,000 were charged to Department A in October. 13. What were the total costs transferred to Dept. B7 a P 53,900 b. P 56,000 e P61,600 d. P62,000 14. What were the costs of the units in process, October 317 a P10,400 b. P11,000 e. P15,000 4. P18,100

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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“make a cost of production report for jersey company“
If FIFO Method is used, the costs of goods manufactured amounted to:
Provide a solution for number 10 and 11
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