Topic: Average and FIFO Costing

In process, March 31 (2/5 complete) Costing increases the quantity by 5%. The following data pertain to its production for March, The addition of water at the start of the process in Dept. B of Nicole Mfg.Co. In process, March 1 (3/4 incomplete) Problem 10 Quantity data: 2019 345 Transferred in 12,000 units 80,000 units 10,000 units In Process, beg. Added during the month P 11,800 P 86,120 Cost data Cost from Dept. A Cost in Dept. B Materials 3,125 Labor 21,835 1,490 43,510 Overhead 1,320 34,680 Materials are added at the start of the process while conversion costs are applied evenly. The company is using the weighted average method Requirements 1. Equivalent production for materials, labor and overhead 2. Total costs of the units completed and transferred 3. Total cost of the units still in process at the end of March In process, March 31 (2/5 complete) Costing increases the quantity by 5%. The following data pertain to its production for March, The addition of water at the start of the process in Dept. B of Nicole Mfg.Co. In process, March 1 (3/4 incomplete) Problem 10 Quantity data: 2019 345 Transferred in 12,000 units 80,000 units 10,000 units In Process, beg. Added during the month P 11,800 P 86,120 Cost data Cost from Dept. A Cost in Dept. B Materials 3,125 Labor 21,835 1,490 43,510 Overhead 1,320 34,680 Materials are added at the start of the process while conversion costs are applied evenly. The company is using the weighted average method Requirements 1. Equivalent production for materials, labor and overhead 2. Total costs of the units completed and transferred 3. Total cost of the units still in process at the end of March