FINANCIAL ACCOUNTING
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ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Massey Corporation uses a
Materials added P305,000
Conversion costs incurred P120,000
Units completed and transferred out in March 50,000
Units in ending work in process March 31 (20% complete) 25,000
Instructions
Answer the following questions and show the computations that support your answers.
1. What are the equivalent units of production for materials costs in the Fabricating Department for the month of March?
2. What are the costs assigned to the ending work in process inventory on March 31?
3. What are the costs assigned to units completed and transferred out during March?
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