Answered: CPR Abnormal Loss in second department:…

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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Consider the following data. Department B of Ethel Manufacturing Corp. suffers an average of evaporation loss of 10%. The following data were obtained for the month of October, 2019: Units: In process, October 1 (2/5 completed) 9,600 gallons Received from Department A 30,000 gallons Finished and transferred 25,200 gallons In process, October 31 (1/4 complete) 11,700 gallons Costs: In process beginning P5,760 Received from Department A 30,000 Current costs Materials 19,440 Labor 7,290 Overhead 2,430 Required: a) Under Weighted Average Method, what was the total unit cost? b) Under Weighted Average Method, how much was the cost of the Finished and Transferred out units? c) Under Weighted Average…
Question 02: CPR with loss: Akroain corporation manufacture a product which passes through two department the production and the cost of department 1 during may 20xx ae as follow. 42,500 units were started in process.38000 units were completed and transferred to department number 2. Some 4000 units were in process at the end of month; these units were complete as to material but ½ converted. Remaining 500 units lost during processing. Costs incurred by the department were direct material 126,000 dollars, Direct Labor 80,000 dollars and FOH 40,000 dollars. You ae required to make a cost of production report for the month of may 20xx.
Consider the following data. Department B of Ethel Manufacturing Corp. suffers an average of evaporation loss of 10%. The following data were obtained for the month of October, 2019: Units: In process, October 1 (2/5 completed) 9,600 gallons Received from Department A 30,000 gallons Finished and transferred 25,200 gallons In process, October 31 (1/4 complete) 11,700 gallons Costs: In process beginning P5,760 Received from Department A 30,000 Current costs Materials 19,440 Labor…
Consider the following data. Department B of Ethel Manufacturing Corp. suffers an average of evaporation loss of 10%. The following data were obtained for the month of October, 2019: Units: In process, October 1 (2/5 completed) 9,600 gallons Received from Department A 30,000 gallons Finished and transferred 25,200 gallons In process, October 31 (1/4 complete) 11,700 gallons Costs: In process beginning P5,760 Received from Department A 30,000 Current costs Materials 19,440 Labor…
Consider the following data. Department B of Ethel Manufacturing Corp. suffers an average of evaporation loss of 10%. The following data were obtained for the month of October, 2019: Units: In process, October 1 (2/5 completed) 9,600 gallons Received from Department A 30,000 gallons Finished and transferred 25.200 gallons In process, October 31 (1/4 complete) 11.700 gallons Costs: In process beginning P5,760 Received from Department A 30,000 Current costs Materials 19,440 Labor 7,290 Overhead 2,430 Under Weighted Average Method, how much was the cost of the Finished and Transferred out units?
TOPIC: PROCESS COSTING-LOST UNITS
Consider the following data. Department B of Ethel Manufacturing Corp. suffers an average of evaporation loss of 10%. The following data were obtained for the month of October, 2019: Units: In process, October 1 (2/5 completed) 9,600 gallons Received from Department A 30,000 gallons Finished and transferred 25,200 gallons In process, October 31 (1/4 complete) 11,700 gallons Costs: In process beginning P5,760 Received from Department A 30,000 Current costs Materials 19,440 Labor 7,290 Overhead 2,430 1.) Under FIFO method, what was the actual units of the Work in Process Beginning Inventory? 2.) Under FIFO method, what was the actual units of the Work in Process Inventory at the End? 3.) Under FIFO, how many units is the Equivalent Units Of Production (EUP) 4.) Under FIFO, how much is the unit cost?
Consider the following data. Department B of Ethel Manufacturing Corp, suffers an average of evaporation loss of 10%. The following data were obtained for the month of October, 2019: Units: In process, 9.600 gallons October 1 (2/5 completed) 30,000 gallons Received from Department A 25.200 gallons Finished and transferred 11.700 gallons In process, October 31 (1/4 complete) Costs: In process beginning P5.760 Received from Department A 30,000 Current costs Materials 19.440 Labor 7:290 Overhead 2.430 Under FIFO method, what was the actual units of the Work in Process Beginning Inventory?

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