In November, Angerstein Co. computed its equivalent units costs under the FIFO process costing as follows: Direct Material P29.50 Packaging 3 Direct Labor 10.84 Overhead 7.68 Direct material and packaging are added at the start and end of processing, respectively. Beginning inventory cost was P1,026,810 and consisted of P789,000 direct material cost for 54,000 EUP P91,862 direct labor cost for 16,200 P145,908 overhead cost for 18,900 EUP Angerstein transferred a total of 370,000 units to finished goods during November and had 12,000 units in ending WIP inventory. The ending inventory units were 30% complete as to direct labor and 55% complete as to overhead. Questions: 1. What is the percentage of completion for the beginning inventory - Packaging? 2. What was the total cost of the computed beginning inventory in units? 3. What was the total cost of the units started and completed in November?
In November, Angerstein Co. computed its equivalent units costs under the FIFO
| Direct Material | P29.50 |
| Packaging | 3 |
| Direct Labor | 10.84 |
| 7.68 |
Direct material and packaging are added at the start and end of processing, respectively.
Beginning inventory cost was P1,026,810 and consisted of
P789,000 direct material cost for 54,000 EUP
P91,862 direct labor cost for 16,200
P145,908 overhead cost for 18,900 EUP
Angerstein transferred a total of 370,000 units to finished goods during November and had 12,000 units in ending WIP inventory. The ending inventory units were 30% complete as to direct labor and 55% complete as to overhead.
Questions:
1. What is the percentage of completion for the beginning inventory - Packaging?
2. What was the total cost of the computed beginning inventory in units?
3. What was the total cost of the units started and completed in November?
4. What was the cost of November's ending inventory?
Step by step
Solved in 5 steps with 2 images
