Compute for the cost of WIP, end using Average costing.
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter3: Process Cost Systems
Section: Chapter Questions
Problem 2BE: Kraus Steel Company has two departments, Casting and Rolling. In the Rolling Department, ingots From...
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Compute for the cost of WIP, end using Average costing.
![ATOZ company's product is manufactured in two departments. Units are inspected at the end of the
production process in the first department. Data related to the month of May are: WIP.beg (60% materials,
35% labor, and 25% FOH), 1,000 units; started in process this period, 9,000 units; WIP,end (100% materials,
75% labor and 50% FOH), 1,500 units. Cost data follows:
Cost this Month
WIP,beg
P1,260
Materials
P36,240
Labor
770
10,780
FOH
1,400
21,725](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F483cf58f-9ef0-4786-b478-f4bdef8c030c%2F94808a66-f785-4251-a6ca-97a61fac98e4%2Fzxhdjbx_processed.png&w=3840&q=75)
Transcribed Image Text:ATOZ company's product is manufactured in two departments. Units are inspected at the end of the
production process in the first department. Data related to the month of May are: WIP.beg (60% materials,
35% labor, and 25% FOH), 1,000 units; started in process this period, 9,000 units; WIP,end (100% materials,
75% labor and 50% FOH), 1,500 units. Cost data follows:
Cost this Month
WIP,beg
P1,260
Materials
P36,240
Labor
770
10,780
FOH
1,400
21,725
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