P9-1 Tampa Corporation uses FIFO process costing. It had the following results in September: Beginning inventory, 60% completed Units completed Ending inventory, 40% completed Cost of beginning inventory Current period costs 2,000 units -8,000 units 1,000 units P 24,000 P158,400 Required: Compute the equivalent unit production for September. Compute the unit cost for September. Compute the cost of ending inventory of work in process. Compute the cost transferred to finished goods. a. b. С. d.
P9-1 Tampa Corporation uses FIFO process costing. It had the following results in September: Beginning inventory, 60% completed Units completed Ending inventory, 40% completed Cost of beginning inventory Current period costs 2,000 units -8,000 units 1,000 units P 24,000 P158,400 Required: Compute the equivalent unit production for September. Compute the unit cost for September. Compute the cost of ending inventory of work in process. Compute the cost transferred to finished goods. a. b. С. d.
P9-1 Tampa Corporation uses FIFO process costing. It had the following results in September: Beginning inventory, 60% completed Units completed Ending inventory, 40% completed Cost of beginning inventory Current period costs 2,000 units -8,000 units 1,000 units P 24,000 P158,400 Required: Compute the equivalent unit production for September. Compute the unit cost for September. Compute the cost of ending inventory of work in process. Compute the cost transferred to finished goods. a. b. С. d.
Transcribed Image Text:p9-1 Tampa Corporation uses FIFO process costing. It had the following results in September:
Beginning inventory, 60%, completed
Units completed
Ending inventory, 40% completed
Cost of beginning inventory
Current period costs
2,000 units
8,000 units
1,000 units
P 24,000
P158,400
Required:
Compute the equivalent unit production for September.
Compute the unit cost for September.
Compute the cost of ending inventory of work in process.
Compute the cost transferred to finished goods.
a.
b.
С.
d.
Definition Definition Operation costing method employed to determine the value of a product at each process or stage of the production process, applicable where goods produced from a series of continuous operations or procedure. Process costing is employed by businesses that manufacture goods and where production is in repetitive inflow.
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