Question: Biogenic Company uses the FIFO method in its process costing system. The following data are taken from the accounting records of a particular department for

Biogenic Company uses the FIFO method in its process costing system. The following data are taken from the accounting records of a particular department for June:

Beginning Work in Process

Costs

P26,250

Units

30,000

Percentage of Completion

Materials

100%

Conversion

60%

Cost per EUP

Materials

P1.75

Conversion

P0.50

Units Completed and transferred out

112,500 units

The cost of the 112,500 units transferred out is:

P197,250

P253,125

P217,875

P226,875

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