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In October, what is the amount of conversion costs added in Department B

In October, what is the amount of conversion costs added in Department B

FINANCIAL ACCOUNTING
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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In using average method, Cruz Company produces a product that undergoes three processes and the completed items at end of process 3 are the items to be sold to customers. For October 2021, Cruz Company presented the following costs on three processes: In October, what is the amount of conversion costs added in Department B? P492,480 P506,520 P531,900 P812,380
October Costs incurred: Process A Process B Process C 319,900 273,600 218,880 812,380 70% at the beginning of the 50% at beginning, 50% 40% at beginning, additional 30% at 40% complete, and remaining 30% at 80% complete. 500,000| 295,500 236,400 1,031,900 374,000 281,400 225,120 880,520 Materials Direct Labor Overhead Total Materials are added at process; remaining 30% at at 80% conversion. 60% conversion. Started/Transferred in (units) 100,000 ? ? Completed (units) 95,000 5,000 units at 70% converted. 3,000 units at 60% 2,000 units at 60% converted. converted. In process, end (units) and stage of completion
Transcribed Image Text:October Costs incurred: Process A Process B Process C 319,900 273,600 218,880 812,380 70% at the beginning of the 50% at beginning, 50% 40% at beginning, additional 30% at 40% complete, and remaining 30% at 80% complete. 500,000| 295,500 236,400 1,031,900 374,000 281,400 225,120 880,520 Materials Direct Labor Overhead Total Materials are added at process; remaining 30% at at 80% conversion. 60% conversion. Started/Transferred in (units) 100,000 ? ? Completed (units) 95,000 5,000 units at 70% converted. 3,000 units at 60% 2,000 units at 60% converted. converted. In process, end (units) and stage of completion
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