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 4,000 units 30,000 units 25,000 units 6,000 units process, August 31 (60% completed) Added during May P 97,200 67,500 81,000 Costs Received from Dept. 1 Materials Conversion costs In process, May 1 P 14,400 3,800 1,940 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. Р 211,040 d.) P 218,440 33. Cost of the ending work in process inventory using average costing a. P 44,640 6. P 45,840 с. Р 46,362 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 4,000 units 30,000 units 25,000 units 6,000 units process, August 31 (60% completed) Added during May P 97,200 67,500 81,000 Costs Received from Dept. 1 Materials Conversion costs In process, May 1 P 14,400 3,800 1,940 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. Р 211,040 d.) P 218,440 33. Cost of the ending work in process inventory using average costing a. P 44,640 6. P 45,840 с. Р 46,362 d. P 46,800
Chapter1: Financial Statements And Business Decisions
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Transcribed Image Text:Summer Company makes a singlę 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 únits
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. Р193,040
с. Р 211,040
d.) P 218,440
33. Cost of the ending work in process inventory using average costing
a. P44,640
(b. P 45,840
с. Р 46,362
d. P 46,800
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