TK Co. manufactures a single product that goes through two processes, mixing and cooking. The data pertain to the mixing department for April 2016: Work-in-process inventory, April 1 Conversion: 80 percent completed Work-in-process inventory, April 30 Conversion: 40 percent completed Units started into production Units completed and transferred out 27,000 units 17,000 units Costs Work-in-process inventory, April 1 Materials X 64,800 Materials Y 89,100 119,880 Conversion Cost added during April Materials X 152,700 138,400 302,520 Materials Y Conversion Materials X is added at the beginning of work in the mixing department. Material Y also added in the mixing department, but not until units of product are 60 percent complete with regard to conversion. Conversion costs are incurred uniformly during the process. 9. The cost per equivalent unit for material Y is а. Р5.25 b. Р4.50 с. Р3.25 d. P5.00 10. The cost of units transferred out is a. P650,000 b. P787,500 с. Р688,000 d. P750,500 11. What is the value of ending Work-in-Process Inventory? а. Р79,900 b. Р65,500 с. Р68,900

TK Co. manufactures a single product that goes through two processes, mixing and cooking. The data pertain to the mixing department for April 2016: Work-in-process inventory, April 1 Conversion: 80 percent completed Work-in-process inventory, April 30 Conversion: 40 percent completed Units started into production Units completed and transferred out 27,000 units 17,000 units Costs Work-in-process inventory, April 1 Materials X 64,800 Materials Y 89,100 119,880 Conversion Cost added during April Materials X 152,700 138,400 302,520 Materials Y Conversion Materials X is added at the beginning of work in the mixing department. Material Y also added in the mixing department, but not until units of product are 60 percent complete with regard to conversion. Conversion costs are incurred uniformly during the process. 9. The cost per equivalent unit for material Y is а. Р5.25 b. Р4.50 с. Р3.25 d. P5.00 10. The cost of units transferred out is a. P650,000 b. P787,500 с. Р688,000 d. P750,500 11. What is the value of ending Work-in-Process Inventory? а. Р79,900 b. Р65,500 с. Р68,900

Name: TK Co. manufactures a single product that goes through two processes,
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Description: TK Co. manufactures a single product that goes through two processes, mixing andcooking. The data pertain to the mixing department for April 2016:Work-in-process inventory, April 1Conversion: 80 percent completedWork-in-process inventory, April 30Co

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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