Compute for the unit 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: Cost this Month WIP.beg P1,260 Materials Labor P36,240 10,780 21,725 770 FOH 1,400
Compute for the unit 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: Cost this Month WIP.beg P1,260 Materials Labor P36,240 10,780 21,725 770 FOH 1,400
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter3: Process Cost Systems
Section: Chapter Questions
Problem 4CMA: A company is using process costing with the first-in, first-out (FIFO) method, and all costs are...
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