ena Company employs FIFO process costing system concerning its only product which undergoes production in assembly department and finishing department. The following data for the year ended December 31, 2020 are provided: ASSEMBLY DEPARTMENT Units Cost January 1, 2020 100,000 units – 40% completed as to conversion cost DM – P3M DL – P5M FOH – P2M December 31, 2020 150,000 units – 80% completed as to conversion costs ? Units started during the year 400,000 units DM cost added during 2020 – P12M DL cost added during 2020 – P15M FOH cost added during 2020 – P13M FINISHING DEPARTMENT January 1, 2020 50,000 units – 70% incomplete as to conversion cost Transferred In – P10M DM – P6M DL – P1M FOH – P3M December 31, 2020 30,000 units – 10% incomplete as to conversion costs ? Units started during the year ? DM cost added during 2020 – P30M DL cost added during 2020 – P40M FOH cost added during 2020 – P10M Additional Information: • It is the company policy to apply direct labor and factory overhead uniformly throughout the period in the two departments. • It is the company policy to add all direct materials in the assembly department at the start of the process while all direct materials in the finishing department are added at the end of the process. • There is no spoilage in both departments. (Round off Units Costs into two decimal places.) 3. In the assembly department, what is the cost of goods manufactured or cost assigned to units completed for the year ended December 31, 2020? a. 37,687,200 b. 38,763,400 c. 36,451,200 d. 35,523,800 4. In the assembly department, what is the cost assigned to December 31, 2020 work-in-process inventory? a. 12,314,400 b. 11,236,600 c. 13,548,800 d. 14,476,200 5. In the finishing department, what is the cost of goods manufactured or cost assigned to units completed for the year ended December 31, 2020? a. 130,923,150 b. 129,235,750 c. 131,285,400 d. 128,452,100 6. In the finishing department, what is the cost assigned to December 31, 2020 work-in-process inventory? a. 6,764,430 b. 8,541,450 c. 6,401,800 d. 9,235,100

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Items 3 – 6 
Cena Company employs FIFO process costing system concerning its only product which undergoes 
production in assembly department and finishing department. The following data for the year ended 
December 31, 2020 are provided:
ASSEMBLY DEPARTMENT
Units Cost
January 1, 2020 100,000 units – 40% 
completed as to conversion 
cost
DM – P3M
DL – P5M
FOH – P2M
December 31, 2020 150,000 units – 80% 
completed as to conversion 
costs
?
Units started during the 
year 400,000 units
DM cost added during 2020 – P12M
DL cost added during 2020 – P15M
FOH cost added during 2020 – P13M
FINISHING DEPARTMENT
January 1, 2020 50,000 units – 70% incomplete 
as to conversion cost
Transferred In – P10M
DM – P6M
DL – P1M
FOH – P3M
December 31, 2020 30,000 units – 10% incomplete 
as to conversion costs
?
Units started during the 
year ?
DM cost added during 2020 – P30M
DL cost added during 2020 – P40M
FOH cost added during 2020 – P10M
Additional Information:
• It is the company policy to apply direct labor and factory overhead uniformly throughout the 
period in the two departments.
• It is the company policy to add all direct materials in the assembly department at the start of the 
process while all direct materials in the finishing department are added at the end of the process.
• There is no spoilage in both departments. (Round off Units Costs into two decimal places.)
3. In the assembly department, what is the cost of goods manufactured or cost assigned to units 
completed for the year ended December 31, 2020?
a. 37,687,200
b. 38,763,400
c. 36,451,200
d. 35,523,800
4. In the assembly department, what is the cost assigned to December 31, 2020 work-in-process 
inventory?
a. 12,314,400
b. 11,236,600
c. 13,548,800
d. 14,476,200
5. In the finishing department, what is the cost of goods manufactured or cost assigned to units 
completed for the year ended December 31, 2020?
a. 130,923,150
b. 129,235,750
c. 131,285,400
d. 128,452,100
6. In the finishing department, what is the cost assigned to December 31, 2020 work-in-process inventory?
a. 6,764,430
b. 8,541,450
c. 6,401,800
d. 9,235,100

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