Department I Department II Department III Quantity Data: In Process, Beg 45,000 units, 1/3 done ? units 50,000 units, 40% undone 60,000 units, 60% complete Placed in Process ? units 210,000 units ? units ? units, 35% incomplete 200,000 units Received from Previous Department Transferred to Stockroom 230,000 units 270,000 units ? units, 5/8 done ? units ? units, 5/9 undone Total Units to be Accounted For In Process, End Equivalent Units of Production (EUP) Cost Data: In Process, Dec. 1 Factory Costs: P180,000 P600,000 P300,000 Materials P675,000 480,000 50% of Labor P390,000 120,000 PO.40 per EUP P200,000 100,000 120% of Labor Labor Factory Overhead

Department I Department II Department III Quantity Data: In Process, Beg 45,000 units, 1/3 done ? units 50,000 units, 40% undone 60,000 units, 60% complete Placed in Process ? units 210,000 units ? units ? units, 35% incomplete 200,000 units Received from Previous Department Transferred to Stockroom 230,000 units 270,000 units ? units, 5/8 done ? units ? units, 5/9 undone Total Units to be Accounted For In Process, End Equivalent Units of Production (EUP) Cost Data: In Process, Dec. 1 Factory Costs: P180,000 P600,000 P300,000 Materials P675,000 480,000 50% of Labor P390,000 120,000 PO.40 per EUP P200,000 100,000 120% of Labor Labor Factory Overhead

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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Similar questions

In process costing, costs are accounted for by a. year. b. process. c. job. d. batch
When units are produced over multiple periods (i.e. incomplete at the end of one period) production cost are assigned to individual units based on : -Equal units, -Equal costs -Equivalent cost -Equivalent units,
Identify and giveexamples of each of thethree basic manufacturingcost categories.
Explain the calculation of equivalent units of production.
Why is the concept of Equivalent Units central in the measurement of the performance of a divisional or departmental manager in process costing manufacturing system? Briefly discuss.
Explain need for calculating more than one equivalent units of production.
Describe allocation of joint costs across products.
A direct material standard cost is: Group of answer choices The cost of direct materials that should be incurred to produce one unit of output or product. The amount of direct materials that should be used to produce one unit of output or product. The cost of all materials and supplies used to produce one unit of output or product. The price that should be spent to purchase each unit of direct material for production.