Problem 12-4- Continued: Ending WIP Beginning WIP 100% Stage of Completion: Transferred In Direct materials Direct labor Overhead 80% 40% 30% 100% 70% 50% 40% Cost Data Beginning WIP Current period Transferred In Direct material Direct labor Overhead P132,000 49,920 13,440 7,160 P640,000 323,200 171,200 86,400 Required: Compute the equivalent unit of production for direct materials, di- rect labor and overhead. e. Prepare a cost of production report for the Curing Department for May 2018 using the FIFO method of process costing
Problem 12-4- Continued: Ending WIP Beginning WIP 100% Stage of Completion: Transferred In Direct materials Direct labor Overhead 80% 40% 30% 100% 70% 50% 40% Cost Data Beginning WIP Current period Transferred In Direct material Direct labor Overhead P132,000 49,920 13,440 7,160 P640,000 323,200 171,200 86,400 Required: Compute the equivalent unit of production for direct materials, di- rect labor and overhead. e. Prepare a cost of production report for the Curing Department for May 2018 using the FIFO method of process costing
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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PLease answer the problem below and do the requirements needed on the attached photos below. Thanks.
Transcribed Image Text:Problem 12-4: Cost of Production Report- Second Department
Plata Company makes porcelain kitchen sinks in a process requiring op-
erations in three separate departments: Molding, Curing, and Finishing.
Materials are first introduced in the molding operation and additional
material is added during the curing process. The following information is
available for the Curing Department for May 2018:
Production Data
Beginning WIP Inventory
Transferred In from Molding
Ending WIP Inventory
Transferred Out to Finishing
8,000 units
40,000 units
4,000 units
Transcribed Image Text:Problem 12-4– Continued:
Stage of Completion:
Beginning WIP
Ending WIP
100%
100%
Transferred In
Direct materials
Direct labor
Overhead
70%
50%
40%
80%
40%
30%
Cost Data
Beginning WIP
Current period
Transferred In
Direct material
Direct labor
Overhead
P132,000
49,920
13,440
7,160
P640,000
323,200
171,200
86,400
Required:
1.
Compute the equivalent unit of production for direct materials, di-
rect labor and overhead.
2.
Prepare a cost of production report for the Curing Department for
May 2018 using the FIFO method of process costing.
Probl
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