ABC company accumulated the following cost in Department B During the Month of November:田Cost Transferredfrom Dept. AConversionCostsP 5,450104.000P 109,450MaterialTotalBeginning InventoryCurrent Period CostP 17,050184.000P 201,050P 34.000P 34,000P 22,500322.000P344,500Production for November in Department B (in units):2,000 60% complete20,0005,000 40% completeWIP-November 1Complete period transferredWIP-November 30Materials are not added in Department B until the very end of processing Department B.Required: Compute the value of ending WIP Using FIFO method:

Name: ABC company accumulated the following cost in Department B During the
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Description: ABC company accumulated the following cost in Department B During the Month of November:田Cost Transferredfrom Dept. AConversionCostsP 5,450104.000P 109,450MaterialTotalBeginning InventoryCurrent Period CostP 17,050184.000P 201,050P 34.000P 34,000P 2

First in first out: First in first out defines the method of managing the inventory of the…

Answered: Materials are not added in Department B…

Business

Accounting

Materials are not added in Department B until the very end of processing Department B. Required: Compute the value of ending WIP Using FIFO method:

Financial Accounting Intro Concepts Meth/Uses

14th Edition

ISBN:9781285595047

Author:Weil

Publisher:Weil

Chapter9: Working Capital

Section: Chapter Questions

Problem 27E

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ABC company accumulated the following cost in Department B During the Month of November: 田 Cost Transferred from Dept. A Material Total P 17,050 184.000 P 201,050 Conversion Costs P 5,450 104.000 P 109,450 P 22,500 322,000 P344,500 Beginning Inventory Current Period Cost Р 34.000 P 34,000 Production for November in Department B (in units): 2,000 60% complete 20,000 5,000 40% complete WIP-November 1 Complete period transferred WIP-November 30 Materials are not added in Department B until the very end of processing Department B. Required: Compute the value of ending WIP Using FIFO method:
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