PLEASE SHOW YOUR SOLUTION PO. THANKS#32-33 Summer Company makes a single product in two departments. The production data forDepartment B for 2019 follows:UnitsIn process, August 1 (40% completed)Received from Department 1Completed and transferredIn process, August 31 (60% completed)4,000 units30,000 únits25,000 units6,000 unitsCostsReceived from Dept. 1.Materialsprocess, May 1Р 14,4003,8001,940Added during MayР 97,20067,50081,000InConversion costsMaterials are added at the start of the process and losses normally occur during theearly stages of the operation.32. Cost of goods manufactured using FIFO methodа. Р 195,250b. Р 193,040с. Р211,040d.) P 218,44033. Cost of the ending work in process inventory using average costingа. Р 44,640(b. P 45,840с. Р 46,362d. Р 46,800

Inventory refers to the stock that is held by the company or is not sold yet which is expected to be…

Summer Company makes a single product in two departments. The production data for Department B for 2019 follows: Units In process, August 1 (40% completed) Received from Department 1 Completed and transferred In process, August 31 (60% completed) 4,000 units 30,000 units 25,000 units 6,000 units Costs Received from Dept. 1 Materials Conversion costs In process, May 1 P 14,400 3,800 1,940 Added during May P 97,200 67,500 81,000 Materials are added at the start of the process and losses normally occur during the early stages of the operation. 32. Cost of goods manufactured using FIFO method а. Р 195,250 b. Р 193,040 с. Р211,040 d.) P 218,440 33. Cost of the ending work in process inventory using average costing а. Р44,640 b. P 45,840 с. Р46,362 d. P 46,800

Summer Company makes a single product in two departments. The production data for Department B for 2019 follows: Units In process, August 1 (40% completed) Received from Department 1 Completed and transferred In process, August 31 (60% completed) 4,000 units 30,000 units 25,000 units 6,000 units Costs Received from Dept. 1 Materials Conversion costs In process, May 1 P 14,400 3,800 1,940 Added during May P 97,200 67,500 81,000 Materials are added at the start of the process and losses normally occur during the early stages of the operation. 32. Cost of goods manufactured using FIFO method а. Р 195,250 b. Р 193,040 с. Р211,040 d.) P 218,440 33. Cost of the ending work in process inventory using average costing а. Р44,640 b. P 45,840 с. Р46,362 d. P 46,800

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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