General Blectronics manufactures microchips in large quantities. Each microchip undergoes assembly and testing. The total assembly costs during January 2006 were: Direct materials used Conversion costs Total manufacturing costs P 720,000 760,000 P1.480,000 1. Assume there was no beginning inventory on January 1, 2006. During January, 10,000 microchips were placed into production and all 10,000 microchips were fully completed at the end of January. What is the unit cost of an assembled microchip in January 2006? P40 a. P120 P148 P72 b. C. d. Assume that during February 10,000 microchips are placed : into production. Further assume the same total assembly costs for January are also incurred in February 2005 but only 9,000 microchips are fully completed at the end of February. All direct materials have been added to the remaining 1,000 microchips. However, on average, these remaining 1,000 microchips are only 50% complete as to conversion costs. What is the equivalent unit cost for conversion costs for February 2006? 9,500 b. 2. а. 11,000 10,000 C. d. 9,000 Assuming the same additional information in no. 2, what is the equivalent unit cost for direct materials for February 2006? 9,500 b. 3. a. 11,000 10,000 d. C. 9,000

General Blectronics manufactures microchips in large quantities. Each microchip undergoes assembly and testing. The total assembly costs during January 2006 were: Direct materials used Conversion costs Total manufacturing costs P 720,000 760,000 P1.480,000 1. Assume there was no beginning inventory on January 1, 2006. During January, 10,000 microchips were placed into production and all 10,000 microchips were fully completed at the end of January. What is the unit cost of an assembled microchip in January 2006? P40 a. P120 P148 P72 b. C. d. Assume that during February 10,000 microchips are placed : into production. Further assume the same total assembly costs for January are also incurred in February 2005 but only 9,000 microchips are fully completed at the end of February. All direct materials have been added to the remaining 1,000 microchips. However, on average, these remaining 1,000 microchips are only 50% complete as to conversion costs. What is the equivalent unit cost for conversion costs for February 2006? 9,500 b. 2. а. 11,000 10,000 C. d. 9,000 Assuming the same additional information in no. 2, what is the equivalent unit cost for direct materials for February 2006? 9,500 b. 3. a. 11,000 10,000 d. C. 9,000

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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