ATOZ company's product is manufactured in two departments. Units are inspected at the end of the...

   

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: Materials Labor WIP,beg P1,260 Cost this Month P36,240 770 10,780 FOH 1,400 21,725 Compute for the total cost accounted for using FIFO. Compute for the unit cost transferred to the next department using FIFO Compute for the total cost transferred to the next department 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: Materials Labor WIP,beg P1,260 Cost this Month P36,240 770 10,780 FOH 1,400 21,725 Compute for the total cost accounted for using FIFO. Compute for the unit cost transferred to the next department using FIFO Compute for the total cost transferred to the next department using average costing

Answer rating: 100% (QA)

To compute the total cost accounted for using FIFO the unit cost transferred to the next department using FIFO and the total cost transferred to the next department using average costing we can use th... View the full answer