The first processing department of BAKAL CO., the Welding Dep rtment, started the month with 18,000 units in its beginning work in process inventory that were 60% incomplete with respect to conversion costs. The conversion cost in this beginning work in process inventory was P64,800. An additional 84,000 units were started into production during the month and 78,000 units were completed and transferred to the next processing department. At the end of the month there were 24,000 units in the ending work in process inventory that were 30% incomplete with respect to conversion costs. A total of P431,520 in conversion costs were incurred in the department during the month. What would be the cost per equivalent unit for conversion costs for the month if the department uses FIFO? *
The first processing department of BAKAL CO., the Welding Dep rtment, started the month with 18,000 units in its beginning work in process inventory that were 60% incomplete with respect to conversion costs. The conversion cost in this beginning work in process inventory was P64,800. An additional 84,000 units were started into production during the month and 78,000 units were completed and transferred to the next processing department. At the end of the month there were 24,000 units in the ending work in process inventory that were 30% incomplete with respect to conversion costs. A total of P431,520 in conversion costs were incurred in the department during the month. What would be the cost per equivalent unit for conversion costs for the month if the department uses FIFO? *
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Please solve
Transcribed Image Text:The first processing department of BAKAL CO., the Welding Dep rtment, started
the month with 18,000 units in its beginning work in process inventory that were
60% incomplete with respect to conversion costs. The conversion cost in this
beginning work in process inventory was P64,800. An additional 84,000 units
were started into production during the month and 78,000 units were completed
and transferred to the next processing department. At the end of the month
there were 24,000 units in the ending work in process inventory that were 30%
incomplete with respect to conversion costs. A total of P431,520 in conversion
costs were incurred in the department during the month. What would be the
cost per equivalent unit for conversion costs for the month if the department
uses FIFO?
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps with 1 images
Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education