REQUIREMENT

1. Cost for work in process ending using FIFO
2. Production equivalent for conversion cost using FIFO
3. Cost of transferred out using FIFO
4. Cost for work in process ending using Average method
5. Production equivalent for materials using Average method
6. Production equivalent for conversion cost using Average method
7. Production equivalent for materials using FIFO

TAKE NOTE of this changes

1. Overhead is 80% of labor cost instead of 100%
2. In the process, end Labor and overhead should be 75% instead of 60%

Opening inventory 4,000 units Percentage of Value Completion Materials Labor Overhead Put in process Materials value Labor Overhead is 100% of labor cost Units completed and transferred Units in process at the end Materials Labor and overhead 100% 50% 50% 20,000 units P1,992 1,074 846 P12,000 9,984 21,000 units 3,000 units 100% 60%