The department production report of Peninsula Company for August is summarized below: Assembly Finishing Department Department...

 

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The department production report of Peninsula Company for August is summarized below: Assembly Finishing Department Department Quantity: Started in Production - Current Month 2,000 -0- Transferred in From Prior Department -0- 1,860 Transferred out to Next Department 1,860-0- Transferred out to Finished goods -0- 1,800 State Completion of Ending WIP Materials Complete 40% Labor 70% 10% Overhead 75% 40% Costs allocated to the departments are presented below: Materials Labor Overheard Assembly Department P30,000 P29,670 P18,830 Finishing Department 68,000 13,671 7,825 Required: Prepare a cost of production report for each department. Round total costs to the nearest peso. Use WAM. Answer with text and/or attachments: The department production report of Peninsula Company for August is summarized below: Assembly Finishing Department Department Quantity: Started in Production - Current Month 2,000 -0- Transferred in From Prior Department -0- 1,860 Transferred out to Next Department 1,860-0- Transferred out to Finished goods -0- 1,800 State Completion of Ending WIP Materials Complete 40% Labor 70% 10% Overhead 75% 40% Costs allocated to the departments are presented below: Materials Labor Overheard Assembly Department P30,000 P29,670 P18,830 Finishing Department 68,000 13,671 7,825 Required: Prepare a cost of production report for each department. Round total costs to the nearest peso. Use WAM. Answer with text and/or attachments:

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Cost of Production of Assembly Deptt Phy units Mat Cost Lab Cost Overhead Total ... View the full answer