P&G uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 400 units. The costs and percentage completion of these units in beginning inventory were: Materials costs Conversion costs Materials costs Cost Percent Complete Conversion costs $7,500 $4,000 A total of 5,400 units were started and 4,700 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department during the month: $112,900 75% $93,900 45%

P&G uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 400 units. The costs and percentage completion of these units in beginning inventory were: Materials costs Conversion costs Materials costs Cost Percent Complete Conversion costs $7,500 $4,000 A total of 5,400 units were started and 4,700 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department during the month: $112,900 75% $93,900 45%

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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