Problem 4 The Salty Mfg. Co. operates three producing departments, A, B and C. It uses the weighted average costing method. The following data are on the production of Department B for October, 2021: Added in Department B Materials Conversion (In pesos) Cost (PhP) Transfer Units In (in Pesos) In process, Oct. 1 Received from Department A Total 5,000 9,990 1,020 21,855 998 20,000 25,000 19,000 39,010 21,877 Transferred out Normal Loss Abnormal loss 1,000 500 In process, Oct. 31 Factory costs are applied evenly throughout the process. Beginning work in process was 20% done while ending work in process is % done. Abnormal loss occurred at the end of the process. What should be the accumulated cost of work in process as of October 31 if the normal loss occurred during the process (with adjustment for lost units based on the remaining good units? 4,500
Problem 4 The Salty Mfg. Co. operates three producing departments, A, B and C. It uses the weighted average costing method. The following data are on the production of Department B for October, 2021: Added in Department B Materials Conversion (In pesos) Cost (PhP) Transfer Units In (in Pesos) In process, Oct. 1 Received from Department A Total 5,000 9,990 1,020 21,855 998 20,000 25,000 19,000 39,010 21,877 Transferred out Normal Loss Abnormal loss 1,000 500 In process, Oct. 31 Factory costs are applied evenly throughout the process. Beginning work in process was 20% done while ending work in process is % done. Abnormal loss occurred at the end of the process. What should be the accumulated cost of work in process as of October 31 if the normal loss occurred during the process (with adjustment for lost units based on the remaining good units? 4,500
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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