1. The following data are provided to you by the 2nd Department of Smart Company Quantity...

 

  

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1. The following data are provided to you by the 2nd Department of Smart Company Quantity data: Beginning WIP 40,000 40% complete as to materials and 25% for conversion cost Received preceding department 120,000 Completed and Transferred 130,000 Ending WIP 30,000 20% compiete as to materials and 30% for conversion cost Beginning Cost data: Balance TMC Cost this department Raw Materials P13,680.00 P72,000.00 Conversion Cost 5,780.00 38,700.00 Cost preceding department 40,000.00 P59,460.00 P206,700.00 96,000.00 Total Prepare the Cost of Production Report under a. FIFO b. Average 2.1 The following data are provided to you by the 1st Department of Smart Company | Quantity data: 40,000 40% complete as to materials and 25% for conversion cost Beginning WIP Received preceding department 120,000 Completed and Transferred 130,000 Ending WIP 30,000 20% complete as to materials and 30% for conversion cost Beginning 7 Cost data: Balance TMC Cost this department Raw Materials P13,680.00 P72,000.00 Conversion Cost 5,780.00 38,700.00 Cost preceding department 40,000.00 96,000.00 Total P59,460.00 P206,700.00 3 5 Average EUP Materials CC CPD Completed and Transferred 7 Ending WIP Total Unit cost Raw Materials Conversion Cost CPD Total olkel 1. The following data are provided to you by the 2nd Department of Smart Company Quantity data: Beginning WIP 40,000 40% complete as to materials and 25% for conversion cost Received preceding department 120,000 Completed and Transferred 130,000 Ending WIP 30,000 20% compiete as to materials and 30% for conversion cost Beginning Cost data: Balance TMC Cost this department Raw Materials P13,680.00 P72,000.00 Conversion Cost 5,780.00 38,700.00 Cost preceding department 40,000.00 P59,460.00 P206,700.00 96,000.00 Total Prepare the Cost of Production Report under a. FIFO b. Average 2.1 The following data are provided to you by the 1st Department of Smart Company | Quantity data: 40,000 40% complete as to materials and 25% for conversion cost Beginning WIP Received preceding department 120,000 Completed and Transferred 130,000 Ending WIP 30,000 20% complete as to materials and 30% for conversion cost Beginning 7 Cost data: Balance TMC Cost this department Raw Materials P13,680.00 P72,000.00 Conversion Cost 5,780.00 38,700.00 Cost preceding department 40,000.00 96,000.00 Total P59,460.00 P206,700.00 3 5 Average EUP Materials CC CPD Completed and Transferred 7 Ending WIP Total Unit cost Raw Materials Conversion Cost CPD Total olkel

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Answer Note Cost of production reports are presented part by part explaining each part Question a FIFO FIFO assumes that beginning WIP is completed fi... View the full answer