Tech Enterprise makes a single product in two departments. The production data for Department B for August 2019 follows: Quantities: In process, August 1 (40% complete) 4,000 units Received from Department A 30,000 units Completed and transferred 25,000 units In process, August 31 (60% complete) 6,000 units Production costs: August 1 August 31 Transferred in P48,900 P267,300 Materials 11,400 202,500 Conversion cost 5,820 243,000 Materials are added at the start of the process, and losses normally occur during the early stage of the operation. Cost of goods manufactured using FIFO method.
Tech Enterprise makes a single product in two departments. The production data for Department B for August 2019 follows: Quantities: In process, August 1 (40% complete) 4,000 units Received from Department A 30,000 units Completed and transferred 25,000 units In process, August 31 (60% complete) 6,000 units Production costs: August 1 August 31 Transferred in P48,900 P267,300 Materials 11,400 202,500 Conversion cost 5,820 243,000 Materials are added at the start of the process, and losses normally occur during the early stage of the operation. Cost of goods manufactured using FIFO method.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Tech Enterprise makes a single product in two departments. The production data for Department B for August 2019 follows:
| Quantities: | ||
| In process, August 1 (40% complete) | 4,000 units | |
| Received from Department A | 30,000 units | |
| Completed and transferred | 25,000 units | |
| In process, August 31 (60% complete) | 6,000 units | |
| Production costs: | ||
| August 1 | August 31 | |
| Transferred in | P48,900 | P267,300 |
| Materials | 11,400 | 202,500 |
| Conversion cost | 5,820 | 243,000 |
Materials are added at the start of the process, and losses normally occur during the early stage of the operation.
Cost of goods manufactured using FIFO method.
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