What is the total costs of work in process at December 31, 2021 in Department C?P40,932.58P46,035.41P42,352.58P22,097.00 RC Company produces a product that undergoes three processes and thecompleted items at end of process 3 are the items to be sold to customers...For December 2021, RC Company presented the following costs on threeprocesses:Costs incurred:Process AProcess BProcess C100,000.0092,400.0073,920.0040% at beginning,Materials149,40098,80079,04080% at the122,25096,80077,44050% at beginning,Direct LaborOverheadMaterials areadded at:beginning,remaining 20% at50% complete.50% at 80%30% at 50%completecomplete, andremaining 30% at80% complete.Started/Transferred 50,000 unitsInCompleted andtransferred out49,000 units47,500 units45,000 unitsIn Process, end1,000 units 40%1,000 units 70%1,500 units 60%completecomplete, 500 unitsat 40% complete.complete; 1,000units 30% complete

The concept of costs of work in process refers to the entire costs incurred by partially finished…

Answered: What is the total costs of work in…

What is the total costs of work in process at December 31, 2021 in Department C? P40,932.58 P46,035.41 P42,352.58 P22,097.00

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Related questions

Q: I need correct

A: Step 1: Introduction to the Process Costing:A car manufacturing company can use both process costing…

Q: TB MC Qu. 5-124 (Algo) The controller of Hendershot Corporation estimates... The controller of…

A: Overhead costs are form of indirect costs and expenses being incurred in business. These costs can…

Q: e The following represents a part of the the cost report for a manufacturing company: Cost category…

A: FIFO METHOD :— Under this method, equivalent units are calculated by adding equivalent units in…

Q: 00 Meester Corporation has an activity-based costing system with three activity cost…

A: Activity based costing:Which is one of the technique used in costing for the allocation of overhead…

Q: Use the following information to answer questions 2 through 6: A company has two service departments…

A: The overhead costs are indirect costs which are incurred not only in production departments but also…

Q: Compute the cost allocations to Dept. S and Dept. T under the reciprocal method: To T: S To S: S

A: Cost Allocation :— cost allocation is the process of assignment of cost in Different Department on…

Q: ABC Company has two support departments, HR and IS, and two operating departments, Production and…

A: Lets understand the basics.Service department cost gets allocated to production department using…

Q: 1. Calculate the amount and cost of unused engineering support capacity at the beginning of 2020,…

A: It is the costing system in which cost is assigned to specific jobs and products. This systems helps…

Q: Use the following information to compute each department's contribution to overhead. Which…

A: The overhead refers to the indirect cost incurred. It is referred to as indirect cost as its cost…

Q: Given the following data: Work in process, beginning Work in process, ending Direct labor costs Cost…

A: The cost of goods manufactured includes the total cost of goods that are finished during the period.…

Q: PREPARE a statement apportioning the costs of service departments over the production departments…

A: Meaning of step down cost allocation method In this method amount of service department are…

Q: SecuriCorp operates a fleet of armored cars that make scheduled pickups and deliveries in the Los…

A: Traditional costing and activity-based costing are important methods to allocate the departmental…

Q: Activity Cost Pool Maintenance Materials Handling Setups Inspection Order processing Customer…

A: The activity costing method is used to apply overhead cost to different activities on the basis of…

Q: I need help doing the attached problem. Parts "a" and "b" are circuled

A: Overhead distribution worksheet is the apportionment of indirect cost to different departments based…

Q: Allocate the service department costs using the reciprocal method.

A: The cost is allocated from service department to operating departments on the basis of different…

Q: Complete (assume $50,000 of overhead to be distributed): Note: Round your "Ratio" answers to the…

A: Activity based costing (ABC) is the modern method for the classification of various expenses to…

Q: None

Q: Goggles Company has the following information for the year 2019: Total manufacturing costs…

A: Hi student Since there are multiple subparts, we will answer only first three subparts. Prime cost…

Q: Required information Sunrise Accounting provides basic tax services and "rent-a-controller"…

A: The overhead is a cost that is allocated to the product or service at the time of production.…

Q: f. Compute the amount of the cost of finished goods g. Compute the amount of the year-end balance in…

A: The inventory consists of work in process, finished goods, and raw materials. Cost of goods sold =…

Q: The following information is departmental cost allocation with two service departments and two…

A: "Since you have posted a question with multiple sub-parts,we will solve first three sub-parts for…

Q: The following information is departmental cost allocation with two service departments and two…

A: Cost allocation refers to the process of distributing or assigning costs to various activities,…

Q: Mammoth Mats has two service departments (maintenance and administration) and two operating…

A: Cost allocation is the technique of allocating costs of service departments to the production…

Q: Required information Skip to question [The following information applies to the questions…

A: This question deals with the direct method of cost allocation. In direct method, service department…

Q: Required information [The following information applies to the questions displayed below.] The…

A: The various methods for allocation of service department cost to other departments are classified as…

Q: A company expected its annual overhead costs to be $692920 and machine hours to equal 101900 hours.…

A: Answer - Predetermined Overhead Rate - = Estimated Total annual Overhead Costs / Estimated Total…

Q: Manufacturing Overhead Distribution Worksheet The following are selected operating data for 2 the…

A: Distribution overheads are all the expenses incurred from the time the product is finished in the…

Q: Calculate the direct and total direct costs of labor for a project team member using the following…

A: The direct cost of labor is a subset of the total direct cost, specifically referring to the…

Q: Problem 17-3B Using activity-based costing to allocate overhead cost, and compute overhead cost per…

A: Under activity based costing method, the cost is allocated to each activity based on its…

Q: Fill in the blanks in the schedule below for two separate investment centers A and B. Note: Round…

A: “Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: San Diego Enterprises reports the following information at December 31, 2024: (Click the icon to…

A: Manufacturing overhead is the overhead incurred on the production or making of the goods. It is a…

Concept explainers

Overheads

In cost accounting, overhead refers to those expenses which occur during the operating of a business. Overhead includes the fixed, variable, or semi-variable which is not directly involved with a company product or service. It is very important to analyze overhead expense as it helps the company in determining how much a company must charge for its products and services so that they can generate profit. Overhead expenses depend upon the nature of the business operations.

Question

What is the total costs of work in process at December 31, 2021 in Department C? P40,932.58 P46,035.41 P42,352.58 P22,097.00

RC Company produces a product that undergoes three processes and the
completed items at end of process 3 are the items to be sold to customers...
For December 2021, RC Company presented the following costs on three
processes:
Costs incurred:
Process A
Process B
Process C
100,000.00
92,400.00
73,920.00
40% at beginning,
Materials
149,400
98,800
79,040
80% at the
122,250
96,800
77,440
50% at beginning,
Direct Labor
Overhead
Materials are
added at:
beginning,
remaining 20% at
50% complete.
50% at 80%
30% at 50%
complete
complete, and
remaining 30% at
80% complete.
Started/Transferred 50,000 units
In
Completed and
transferred out
49,000 units
47,500 units
45,000 units
In Process, end
1,000 units 40%
1,000 units 70%
1,500 units 60%
complete
complete, 500 units
at 40% complete.
complete; 1,000
units 30% complete

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step 1: Introduction

VIEW

Step 2: Calculations

VIEW

Solution

VIEW

Step by step

Solved in 3 steps with 3 images

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions

lator The T-account showing the manufacturing overhead activity for Davis Corp. for 2024 is as follows: K Manufacturing Overhead 203,000 200,000 Read the requirements. Requirement 1. What is the actual manufacturing overhead? Actual manufacturing overhead: Ask my instructor Clear all Check
Question 19?
Presented below are incomplete 2022 manufacturing cost data for Sunland Corporation. Determine the missing amounts. Direct Total Work in Materials Direct Manufacturing Manufacturing Process Used Labor Overhead Costs (1/1) $35,720 $75,200 $45,120 $112,800 (b) $140,060 $49,820 $84,600 $274,480 2$ (c) $49,820 $109,040 $113,740 $272,600 $378,820
Complete the following (assume $93,500 of overhead to be distributed): (Round the "Ratio" to 2 decimal places.) Amount of Overhead Square Feet Ratio Allocated Department A Department B 15,040 31,960
Hansaben
Cost & Management Accounting AC336 Question 3 (13 Marks) Krypton Inc. manufactures two products, Vintex and Bromal. The company estimated it would incur $160,690 in manufacturing overhead costs during the current period. Overhead currently is applied to the products on the basis of direct labour hours. Data concerning the current period's operations appear below: Estimated Volume Direct labour hours per unit Direct labour cost per unit Direct material cost per unit Activity cost pool Material acquisition costs Machine costs General factory costs Required: Activity cost pool Material acquisition costs Machine costs General factory costs Vintex 4,700 units 2.1 hours Estimated overhead costs $33.60 $4.80 The company is considering using an activity-based costing system to compute unit product costs instead of its traditional single plant-wide system based on direct labour hours. The activity- based costing system would use three activity cost pools and drivers: Driver Purchase orders…
A. Total manufacturing cost? B. Work in Process, 01/01/x1? C. Work in Process, 12/31/x1?
Mr
Required information SB (Static) The following information is... [The following information applies to the questions displayed below.] The following information is departmental cost allocation with two service departments and two production departments. Percentage Service Provided to Department Service 1 (S1) Service 2 (52) Production 1 (P1) Production 2 (P2) P1 P2 Cost $ 30,000 20,000 100,000 150,000 Total Cost Allocated S1 0% 20 P2 35% 20 60 Brief Exercise 7-14 (Static) If the cost in P1 is changed from... [LO 7-3] What is the amount of service department cost allocated to P1 and P2 using the direct method if the cost in P1 is changed from $100,000 to $120,000? 52 P1 30% 35% 0
44) Same information as before - You have collected the following information about activity and costs - Activity - Machine Cost - Utilities Month Hours March 2,400 $18,500 2,600 $19,750 April May 2,900 $23,740 $25,500 $18,350 $17,290 June 3,100 July August September 1,950 October 2,100 1,900 $17,150 3,150 $25,200 November 3,000 $24,100 Using the High-Low method and your answers from the two previous questions, what is the estimated cost for December if the machines run for 2,550 hours ?
What are the product costs per unit associated with Product DCT121? A) $137 B) $140 C) $143 D) $88