Output No. 2 The JBriones Company uses process costing in its two producing departments. The following information pertain to Department 2 for November. Normal spoilage is 5% of output; inspection and identification of spoilage take place at the end of the process; materials are added after inspection. 00,000 Department 2 received 28,000 units from Department 1 at a cost of P280,000. Department 2 costs were P24,000 for materials and P180,000 for conversion costs. A total of 16,000 units were completed and transferred to finished goods. At the end of the month, 10,000 units were still in process, estimated to be 60% complete as to conversion costs. quired: Cost of production report for Department 2
Output No. 2 The JBriones Company uses process costing in its two producing departments. The following information pertain to Department 2 for November. Normal spoilage is 5% of output; inspection and identification of spoilage take place at the end of the process; materials are added after inspection. 00,000 Department 2 received 28,000 units from Department 1 at a cost of P280,000. Department 2 costs were P24,000 for materials and P180,000 for conversion costs. A total of 16,000 units were completed and transferred to finished goods. At the end of the month, 10,000 units were still in process, estimated to be 60% complete as to conversion costs. quired: Cost of production report for Department 2
Chapter1: Financial Statements And Business Decisions
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Transcribed Image Text:Output No. 2
The JBriones Company uses process costing in its two producing departments. The following
information pertain to Department 2 for November.
Normal spoilage is 5% of output; inspection and identification of spoilage take place at the
end of the process; materials are added after inspection.
500'0
Department 2 received 28,000 units from Department 1 at a cost of P280,000. Department 2
costs were P24,000 for materials and P180,000 for conversion costs.
A total of 16,000 units were completed and transferred to finished goods. At the end of the
month, 10,000 units were still in process, estimated to be 60% complete as to conversion
costs.
Required: Cost of production report for Department 2
78
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