Konoha has a process cost system for manufacturing kunais (common ninja weapon) and uses the FIFO method. The following information is applicable for the month of December:

Units

- In process, beginning (100% complete as to materials, 25% complete as to conversion cost) - 10,000 units

- Units started in December - 74,000 units

- Units completed in December - 61,000 units

- In process, end (% of completion is unknown) - 15,000 units

- Spoiled / broken kunais - 8,000 units

Costs

- In process beginning - Materials PHP 220,000, Conversion costs PHP 30,500

- Added during the month - Materials PHP 1,480,000, Conversion costs PHP 942,000

- Cost per EUP - Materials 20/unit, Coversion cost 12/unit

10% of the produced kunais are normally broken during the manufacturing process, and is considered normal. All materials are added at the beginning of the process, while the inspection is done after the manufacturing process.

1. What is the percentage of completion of the ending inventory?

Answer rating: 100% (QA)

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