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,2022. Company presented the following costs on processes:In January, under FIFO method, what is the total cost to be accounted for in Process 1?P659,434P666,510P683,654P656,400 January 2022 Costs incurred:Process 1Process 2Process 3302,580.00201,030.00160,824.00664,434.00249,975.00175,775.00140,620.00566,370.00196,425.00147,925.00118,388.00462,738.00MaterialsDirect LaborOverheadTotal50% at the beginning of theprocess, another 30% at 70%50% at the beginning of theprocess, and remaining 50% at of the process and the80% of the process.Materials are addedthe beginning of the process.remaining 20% at 90% of theprocess.Started Transferred In (units)49,5002,00048,5002,00050%50,00048,5002,00047,000In process, beginning (units)2,00049,5002,500|50%Completed and transferred out (units)In Process, end (units)In Process, end (rate of convertion)2,00060%Normal Loss - not more than 900 unitsAbnormal loss (units)?Quality Control Inspection Madeat the end of the processat the end of the processat the end of the process

Name: Company produces a product that undergoes three processes and the comp
Uploaded: 2024-03-20T06:32:49.000Z
Channel: Bartleby
Description: 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,2022. Company presented the following costs on processes:In January, under FIFO method, what is