Lenlen Corporation produces a product through a continuous process in two departments. Materials in this department are added at the beginning of the process. The production and cost data were taken from Department B during September, 2022. Production data: Received from Department A Completed and transferred In process, end (50% complete) Lost Cost Data: Received from Department A Materials Labor Overhead 80,000 units 60,000 units 15,000 units 5,000 units P560,000 175,000 121,875 243,750 Required: Prepare the cost of production report under the following assumptions: 1. Lost units classified as normal, discovered at the beginning of the process. 2. Lost units classified as normal, discovered during the process. 3. Lost units classified as normal, discovered at the end of the process. 4. Lost units classified as abnormal, discovered at the beginning of the process. 5. Lost units classified as abnormal, discovered during the process. 6. Lost units classified as abnormal, discovered at the end of the process.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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What is the correct answer to number 1, 2 and 3? Please provide solution. 

Lenlen Corporation produces a product through a continuous process in two departments. Materials in
this department are added at the beginning of the process. The production and cost data were taken from
Department B during September, 2022.
Production data:
Received from Department A
Completed and transferred
In process, end (50% complete)
Lost
Cost Data:
Received from Department A
Materials
Labor
Overhead
80,000 units
60,000 units
15,000 units
5,000 units
P560,000
175,000
121,875
243,750
Required: Prepare the cost of production report under the following assumptions:
1. Lost units classified as normal, discovered at the beginning of the process.
2. Lost units classified as normal, discovered during the process.
3. Lost units classified as normal, discovered at the end of the process.
4. Lost units classified as abnormal, discovered at the beginning of the process.
5. Lost units classified as abnormal, discovered during the process.
6. Lost units classified as abnormal, discovered at the end of the process.
Transcribed Image Text:Lenlen Corporation produces a product through a continuous process in two departments. Materials in this department are added at the beginning of the process. The production and cost data were taken from Department B during September, 2022. Production data: Received from Department A Completed and transferred In process, end (50% complete) Lost Cost Data: Received from Department A Materials Labor Overhead 80,000 units 60,000 units 15,000 units 5,000 units P560,000 175,000 121,875 243,750 Required: Prepare the cost of production report under the following assumptions: 1. Lost units classified as normal, discovered at the beginning of the process. 2. Lost units classified as normal, discovered during the process. 3. Lost units classified as normal, discovered at the end of the process. 4. Lost units classified as abnormal, discovered at the beginning of the process. 5. Lost units classified as abnormal, discovered during the process. 6. Lost units classified as abnormal, discovered at the end of the process.
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