Compute for the total cost transferred to the next department using FIFO. ATOZ company's product is manufactured in two departments. Units are inspected at the end of the production process in the first department. Data related to the month of May are: WIP,beg (60% materials, 35% labor, and 25% FOH), 1,000 units; started in process this period, 9,000 units; WIP,end (100% materials, 75% labor and 50% FOH), 1,500 units. Cost data follows: WIP.beg P1,260 770 Cost this Month P36,240 10,780 21,725 Materials Labor FOH 1,400

Compute for the total cost transferred to the next department using FIFO. ATOZ company's product is manufactured in two departments. Units are inspected at the end of the production process in the first department. Data related to the month of May are: WIP,beg (60% materials, 35% labor, and 25% FOH), 1,000 units; started in process this period, 9,000 units; WIP,end (100% materials, 75% labor and 50% FOH), 1,500 units. Cost data follows: WIP.beg P1,260 770 Cost this Month P36,240 10,780 21,725 Materials Labor FOH 1,400

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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Question

The final answer should be the exact number/amount rounded off up to the second decimal place.

Compute for the total cost transferred to the next department using FIFO.
ATOZ company's product is manufactured in two departments. Units are inspected at the end of the
production process in the first department. Data related to the month of May are: WIP,beg (60% materials,
35% labor, and 25% FOH), 1,000 units; started in process this period, 9,000 units; WIP,end (100% materials,
75% labor and 50% FOH), 1,500 units. Cost data follows:
WIP.beg
Cost this Month
Materials
P1,260
P36,240
Labor
770
10,780
FOH
1,400
21,725

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