Please help me answer this problem regarding our cost accounting subject. Regent Company manufactures golf bags in two department process The Finishing Department addshardware to the assemble bags and overthead is applied in this department on a direct labor basis. ForJune, the following production data and costs were gathered:Assembly DepartmentUnits started..Ending WIP Inventory (100% complete for materials, 70% complete for labor9,050and 90% complete for overhead).DLP64,296400CostCurrent.DMP104,075OHP27,931Finishing DepartmentUnits transferred in.Ending WIP Inventory (30% complete for DM and 65% for conversion)..CostCurrent.8,650300DM Conversion CostP15,192P21,362.50QUESTION (a) Total costs of units completed and transferred to the Finishing DepartmentQUESTION (b) Total costs of units completed and transferred to the warehouse_QUESTION (c) Total costs of units in process, end in the Finishing Department(Sample answer: 1,000 do not put peso sign and letters; No decimal)

The equivalent units are calculated on the basis of percentage of work completed during the period.

Regent Company manufactures golf bags in two department process. The Finishing Department adds hardware to the assemble bags and overhead is applied in this department on a direct labor basis. For June, the following production data and costs were gathered: Assembly Department Units started. Ending WIP Inventory (100 % complete for materials, 70% complete for labor 9,050 and 90% complete for overhead). DL 400 DM P104,075 Cost OH Current.. P64,296 P27,931 Finishing Department Units transferred in. Ending WIP Inventory (30% complete for DM and 65% for conversion).. Cost Current.. 8,650 300 DM Conversion Cost P15,192 P21,362.50 QUESTION (a) Total costs of units completed and transferred to the Finishing Department QUESTION (c) Total costs of units in process, end in the Finishing Department (Sample answer: 1,000 do not put peso sign and letters; No decimal)

Regent Company manufactures golf bags in two department process. The Finishing Department adds hardware to the assemble bags and overhead is applied in this department on a direct labor basis. For June, the following production data and costs were gathered: Assembly Department Units started. Ending WIP Inventory (100 % complete for materials, 70% complete for labor 9,050 and 90% complete for overhead). DL 400 DM P104,075 Cost OH Current.. P64,296 P27,931 Finishing Department Units transferred in. Ending WIP Inventory (30% complete for DM and 65% for conversion).. Cost Current.. 8,650 300 DM Conversion Cost P15,192 P21,362.50 QUESTION (a) Total costs of units completed and transferred to the Finishing Department QUESTION (c) Total costs of units in process, end in the Finishing Department (Sample answer: 1,000 do not put peso sign and letters; No decimal)

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

What is the difference between intermediate products and final products in management accounting?
ANSWER ANY TWO QUESTIONS 1. What is the meaning of cost accounting? Write any FIVE objectives of cost accounting. 2. Briefly explain the elements of cost.
The accounting relates to assortment, classification and measurement of cost for analyzing methods/ techniques and costing principles which is helpful for decision making, The establishment of budgets and compare the standard costs with actual cost for proper use. Explain in detail the objectives, pros and cons of such accounting
Purpose of Costing Methods in Management Accounting.
impact and comparison of cost control techniques in practice
Explain the ethical considerations to be taken care of while maintaining cost records.
Explain an example of journal entry for the transfer in costs.
Compare/contrast cost assignment and cost allocation. Be sure to include direct assignment (tracing) and driver tracing in your discussion.