what is the total costs transferred from Department B to Department C? P1,821,600 P1,031,900 P1,868,520 P1,782,000

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
icon
Related questions
Question
In using average method, Cruz 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 October 2021, Cruz Company presented the following costs on three processes: what is the total costs transferred from Department B to Department C? P1,821,600 P1,031,900 P1,868,520 P1,782,000
October Costs incurred:
Process A
Process B
Process C
319,900
273,600
218,880
812,380
70% at the beginning of the 50% at beginning, 50% 40% at beginning,
additional 30% at 40%
complete, and remaining
30% at 80% complete.
500,000|
295,500
236,400
1,031,900
374,000
281,400
225,120
880,520
Materials
Direct Labor
Overhead
Total
Materials are added at
process; remaining 30% at at 80% conversion.
60% conversion.
Started/Transferred in (units)
100,000
?
?
Completed (units)
95,000
5,000 units at 70% converted.
3,000 units at 60%
2,000 units at 60% converted.
converted.
In process, end (units) and
stage of completion
Transcribed Image Text:October Costs incurred: Process A Process B Process C 319,900 273,600 218,880 812,380 70% at the beginning of the 50% at beginning, 50% 40% at beginning, additional 30% at 40% complete, and remaining 30% at 80% complete. 500,000| 295,500 236,400 1,031,900 374,000 281,400 225,120 880,520 Materials Direct Labor Overhead Total Materials are added at process; remaining 30% at at 80% conversion. 60% conversion. Started/Transferred in (units) 100,000 ? ? Completed (units) 95,000 5,000 units at 70% converted. 3,000 units at 60% 2,000 units at 60% converted. converted. In process, end (units) and stage of completion
Expert Solution
steps

Step by step

Solved in 2 steps

Blurred answer
Knowledge Booster
Cost classification
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
  • SEE MORE QUESTIONS
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education