Problem 9 Alonzo Manufacturing uses a process costing system to accumulate, costs related tothe production of "Supergrow" an industrial strength hair grower. Material costs and conversioncosts for last quarter are provided below:Costs in beginning work in processCurrent costs for the quarterMaterialsP 6,544281,656Conversion16,803344,817The equivalent bottles of production under the weighted average method are 262,000 formaterials and 258,300 for conversion costs. All materials are added at the beginning of theproduction process. Beginning work in process was composed of 3,600 bottles that were 80%complete with respect to conversion costs.Required:1. If the number of bottles completed during the quarter is 255,200, what is the total cost thatshould be assigned to these bottles under the weighted average method?• 2. If Alonzo had used the FIFO method, total cost assigned to ending work in process wouldhave been P 11,597. If bottles completed during the quarter are 255,200, what is the total costthat should be assigned to the completed bottles under the FIFO method?

Name: Problem 9 Alonzo Manufacturing uses a process costing system to accum
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Description: Problem 9 Alonzo Manufacturing uses a process costing system to accumulate, costs related tothe production of "Supergrow" an industrial strength hair grower. Material costs and conversioncosts for last quarter are provided below:Costs in beginning w

calculation of cost assign to bottles under weighted average method and FIFO method are as follows

Business

Accounting

Required: 1. If the number of bottles completed during the quarter is 255,200, what is the total cost that should be assigned to these bottles under the weighted average method? 2. If Alonzo had used the FIFO method, total cost assigned to ending work in process would have been P 11,597. If bottles completed during the quarter are 255,200, what is the total cost that should be assigned to the completed bottles under the FIFO method?

Required: 1. If the number of bottles completed during the quarter is 255,200, what is the total cost that should be assigned to these bottles under the weighted average method? 2. If Alonzo had used the FIFO method, total cost assigned to ending work in process would have been P 11,597. If bottles completed during the quarter are 255,200, what is the total cost that should be assigned to the completed bottles under the FIFO method?

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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