How much is the cost of WIP, end using FIFO
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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How much is the cost of WIP, end using FIFO
Transcribed Image Text:Dmahirap company adds all materials at the beginning of the process in the first department. Conversion
costs were 75% complete as to 8,000 units in WIP.beg and 50% complete as to 6,000 units in WIP,end.
During the month, 12,000 units were completed and transferred to the next department. Analysis of the
costs relating to production for October follows:
Materials
Conversion
Cost
WIP.beg
Costs added this month 15,600
P9,600
P4,800
14,400
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