What is the total costs transferred from Department 1 to Department 2?

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Zoey 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 November 2021, Masipag Company presented the following costs on three processes:

A.What is the total costs transferred from Department 1 to Department 2?
 
P  84,040
P110,450
P  70,760
P115,760
 
B. What is the total costs transferred from Department 2 to Department 3?
P177,185
P184,175
P212,135
P203,625
Costs incurred:
Process 1
Process 2
Process 3
45,000
39,040
31,720
Materials
38,775
34,800.00
Direct Labor
34,950
32,550.00
26,040.00
100% at the beginning 50% at beginning, 50% 40% at beginning, 30%
at 50% complete, and
remaining 30% at 80%
Overhead
27,960
Materials are added at:
at 60% complete
complete.
25,000 units
Completed and transferred ou 23,500 units
1,500 units 60%
converted
Started/Transferred In
?
?
22,500 units
1,000 units 80%
20,500 units
1,000 units 30%
converted, 1,000 units
70% converted
In Process, end
converted
Transcribed Image Text:Costs incurred: Process 1 Process 2 Process 3 45,000 39,040 31,720 Materials 38,775 34,800.00 Direct Labor 34,950 32,550.00 26,040.00 100% at the beginning 50% at beginning, 50% 40% at beginning, 30% at 50% complete, and remaining 30% at 80% Overhead 27,960 Materials are added at: at 60% complete complete. 25,000 units Completed and transferred ou 23,500 units 1,500 units 60% converted Started/Transferred In ? ? 22,500 units 1,000 units 80% 20,500 units 1,000 units 30% converted, 1,000 units 70% converted In Process, end converted
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