December 2021 Costs incurred: Materials Direct Labor Overhead Total Materials are added Started/Transferred In (units) In process, beginning (units) Completed and transferred out (units) In Process, end (units) In Process, end (rate of convertion) Normal Loss - not more than 900 units Abnormal loss (units) Quality Control Inspection Made Process 1 300,510.00 198,000.00 158,400.00 656,910.00 the beginning of the process. 50,000 1,000 49,000 2,000 50% at the end of the process Process 2 246,225.00 170,625.00 136,500.00 553,350.00 49,000 1,500 47,000 2,000 50% Process 3 900 600 at the end of the process 189,375.00 142,785.00 112,320.00 444,480.00 50% at the beginning of the process, and remaining 50% at of the process and the 60% of the process. 50% at the beginning of the process, another 30% at 70% remaining 20% at 90% of the process. 47,000 1,500 45,000 2,000 60% 900 600 at the end of the process
December 2021 Costs incurred: Materials Direct Labor Overhead Total Materials are added Started/Transferred In (units) In process, beginning (units) Completed and transferred out (units) In Process, end (units) In Process, end (rate of convertion) Normal Loss - not more than 900 units Abnormal loss (units) Quality Control Inspection Made Process 1 300,510.00 198,000.00 158,400.00 656,910.00 the beginning of the process. 50,000 1,000 49,000 2,000 50% at the end of the process Process 2 246,225.00 170,625.00 136,500.00 553,350.00 49,000 1,500 47,000 2,000 50% Process 3 900 600 at the end of the process 189,375.00 142,785.00 112,320.00 444,480.00 50% at the beginning of the process, and remaining 50% at of the process and the 60% of the process. 50% at the beginning of the process, another 30% at 70% remaining 20% at 90% of the process. 47,000 1,500 45,000 2,000 60% 900 600 at the end of the process
Chapter4: Job Order Costing
Section: Chapter Questions
Problem 7EA: A company estimates its manufacturing overhead will be $750,000 for the next year. What is the...
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Question
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 December,2022. Company presented the following costs on processes:
In December, under FIFO method, what is average unit cost of inventory transferred from Process 2 to Process 3?
P24.56
P25.03
P25.22
P24.76
![December 2021 Costs incurred:
Process 1
Process 2
Process 3
300,510.00
198,000.00
158,400.00
656,910.00
246,225.00
170,625.00
136,500.00
553,350.00|
189,375.00
142,785.00
112,320.00
444,480.00
Materials
Direct Labor
Overhead
Total
50% at the beginning of the
50% at the beginning of the
process, and remaining 50% at of the process and the
00% of the process.
process, another 30% at 70%
Materials are added
the beginning of the process.
remaining 20% at 00% of the
process.
Started/Transferred In (units)
In process, beginning (units)
Completed and transferred out (units)
In Process, end (units)
In Process, end (rate of convertion)
50,000
1,000
49,000
49,000
1,500
47,000
47,000
1,500
45,000
2,000
2,000
2,000
50%
50%
60%
Normal Loss- not more than 900 units
900
900
Abnormal loss (units)
600
600
Quality Control Inspection Made
at the end of the process
at the end of the process
at the end of the process](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F4f0f48b0-e1a1-48d5-86dd-fea122d75cb5%2F75a9db77-b928-498b-a8bb-eccab6971641%2Fg9xdy6u_processed.jpeg&w=3840&q=75)
Transcribed Image Text:December 2021 Costs incurred:
Process 1
Process 2
Process 3
300,510.00
198,000.00
158,400.00
656,910.00
246,225.00
170,625.00
136,500.00
553,350.00|
189,375.00
142,785.00
112,320.00
444,480.00
Materials
Direct Labor
Overhead
Total
50% at the beginning of the
50% at the beginning of the
process, and remaining 50% at of the process and the
00% of the process.
process, another 30% at 70%
Materials are added
the beginning of the process.
remaining 20% at 00% of the
process.
Started/Transferred In (units)
In process, beginning (units)
Completed and transferred out (units)
In Process, end (units)
In Process, end (rate of convertion)
50,000
1,000
49,000
49,000
1,500
47,000
47,000
1,500
45,000
2,000
2,000
2,000
50%
50%
60%
Normal Loss- not more than 900 units
900
900
Abnormal loss (units)
600
600
Quality Control Inspection Made
at the end of the process
at the end of the process
at the end of the process
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