Using FIFO, compute for the total cost transferred to finished goods if the losses were discovered at the end of process and were considered abnormal. Malleynila Company manufactures a single product in two process departments. Costs and production data to the month of November follows: COSTS ASSEMBLY FINISHING Wip, beg (50% materials, 30% labor, 20% overhead) 9,750.00 18,000.00 Materials 64,000.00 Labor 47,250.00 85,800.00 Factory overhead 31,500.00 47,200.00 QUANTITY Wip, beg 1/2 complete 3,000.00 4,000.00 Started in process 33,000.00 Completed and transferred Wip, end 40% to complete 30,000.00 25,000.00 5,000.00 6,000.00

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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Using FIFO, compute for the total cost transferred to finished
goods if the losses were discovered at the end of process
and were considered abnormal.
Malleynila Company manufactures a single product in two process departments. Costs and
production data to the month of November follows:
COSTS
ASSEMBLY FINISHING
Wip, beg (50% materials, 30% labor, 20% overhead)
9,750.00
18,000.00
Materials
64,000.00
85,800.00
47,200.00
Labor
47,250.00
Factory overhead
31,500.00
QUANTITY
Wip, beg 1/2 complete
3,000.00
4,000.00
Started in process
33,000.00
Completed and transferred
Wip, end 40% to complete
30,000.00 25,000.00
5,000.00
6,000.00
Your answer
Transcribed Image Text:Using FIFO, compute for the total cost transferred to finished goods if the losses were discovered at the end of process and were considered abnormal. Malleynila Company manufactures a single product in two process departments. Costs and production data to the month of November follows: COSTS ASSEMBLY FINISHING Wip, beg (50% materials, 30% labor, 20% overhead) 9,750.00 18,000.00 Materials 64,000.00 85,800.00 47,200.00 Labor 47,250.00 Factory overhead 31,500.00 QUANTITY Wip, beg 1/2 complete 3,000.00 4,000.00 Started in process 33,000.00 Completed and transferred Wip, end 40% to complete 30,000.00 25,000.00 5,000.00 6,000.00 Your answer
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