In using FIFO 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 December 2021, Cruz Company presented the following costs on three processes:What is the total costs transferred from Department 2 to Department 3?P156,140P161,415P164,695None of the above Costs incurred:MaterialsDirect LaborOverheadTotalProcess 1Process 2Process 333,75030,00022,72518,18070,90527,72930 20024,64824,16088,11050% at beginning, 50% 40% at beginning, 30% atat 60% complete19,71872,095Materials are added at:|100% at the beginning50% conplete, andremaining 30% at 80%complete.Started/Transferred In15,000 units1,000 units 50% complete.Cost: Materials P2,250; LaborP1,000; OH P800.15,200 units500 units 70% complete. 250 units 40% complete, 250Cost fom precedingdepartment P2,925;Materials P1,0003; LaborР525 оН Р420.15,300 Units5,700 unitsunits 70% complete. Costfrom preceding pepartmentP5,275; Materials P 495;Labor P440; OH P 352.15,400 UnitsIn process, beginningCompleted15,200 unitsIn Process, end800 units 50% complete400 units 50% complete 400 units at 70% complete

No. of equivalent units Actual units ( Material) Equivalent units (Material) Actual…

In using FIFO 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 December 2021, Cruz Company presented the following costs on three processes: What is the total costs transferred from Department 2 to Department 3? P156,140 P161,415 P164,695 None of the above

In using FIFO 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 December 2021, Cruz Company presented the following costs on three processes: What is the total costs transferred from Department 2 to Department 3? P156,140 P161,415 P164,695 None of the above

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter7: Allocating Costs Of Support Departments And Joint Products

Section: Chapter Questions

Problem 6CE: Refer to Cornerstone Exercise 7.3 and solve for the allocated costs to Fabricating and Assembly...

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Following is a partial production cost report for Mitchell Mar Equivalent units of production (EUP) Direct Materials Units Completed and transferred out Ending Work in Process Cost per EUP Cost of beginning work in process $40,500 Costs added this period 136,000 Total costs $ 176,500 % EUP from part (a) Cost per EUP O $135,500. O $136,000. O $176,500. 50,000 15,000 O $176,150. O $196,000. Conversion 65,000 $2.71 Percent Complete EUP Percent Complete EUP 100% 50,000 100% 50,000 100% 15,000 80% 12,000 65,000 62,000 Direct Materials Conversion The total direct materials costs transferred out of the Canning department equals: per EUP $ 59,700 183,100 $ 242,800 62,000 $3.92 per EUP
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