Reyes Company produces a product that undergoes three processes and the completed items at end of process 3 are the items to be sold to customers. For November 2021, Reyes Company presented the following costs on three processes:
Reyes Company produces a product that undergoes three processes and the completed items at end of process 3 are the items to be sold to customers. For November 2021, Reyes Company presented the following costs on three processes:
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
What is the total costs transferred from Department 2 to Department 3?
a.P200,045
b.P280.702
c.P274,140
d.P195,175
![Reyes Company produces a product that undergoes three processes and the
completed items at end of process 3 are the items to be sold to customers. For
November 2021, Reyes Company presented the following costs on three
processes:
Costs incurred:
Materials
Direct Labor
Overhead
Materials are added
at:
Process 1
Process 2
Process 3
45,000
39,000
38,000
32,895
28,275
29,240
22,620
100% at the 50% at beginning, 40% at beginning, 30% at
31,200
23,392
beginning
50% at 60%
complete
50% complete, and
remaining 30% at 80%
complete.
Started/Transferred In 20,000 units ?
Completed and
transferred out
In Process, end
19,000 units 18,500 units
18,000 units
1,000 units
50% complete complete
500 units 70%
250 units 40% complete, 250
units 70% complete](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F4f0f48b0-e1a1-48d5-86dd-fea122d75cb5%2F6b9b319f-f440-49cc-b1e6-a289ceb23604%2Fegjmgre_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Reyes Company produces a product that undergoes three processes and the
completed items at end of process 3 are the items to be sold to customers. For
November 2021, Reyes Company presented the following costs on three
processes:
Costs incurred:
Materials
Direct Labor
Overhead
Materials are added
at:
Process 1
Process 2
Process 3
45,000
39,000
38,000
32,895
28,275
29,240
22,620
100% at the 50% at beginning, 40% at beginning, 30% at
31,200
23,392
beginning
50% at 60%
complete
50% complete, and
remaining 30% at 80%
complete.
Started/Transferred In 20,000 units ?
Completed and
transferred out
In Process, end
19,000 units 18,500 units
18,000 units
1,000 units
50% complete complete
500 units 70%
250 units 40% complete, 250
units 70% complete
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