Topic: Average and FIFO Costing

Problem 13 Samahan, Inc. manufactures a highly sensitive smoke alarm and uses the FIFO method. In costing finished goods, the unit costs for units completed from the work in-process at the beginning of the period is kept separate from the unit cost of those started and completed during the period. The total manufacturing costs for the monti of June, 2016 is P264,000 and 2,750 units are completed during the month. 1.250 units 600 units P128.000 76,800 The inventories at the beginning of June are: Smoke alarm in process (80% complete) Smoke alarms on hand (complete) The inventories at the end of June are: Smoke alarm in process (50% complete) Smoke alarms on hand (complete) 500 units 700 units Required 1. Total cost of the units in process, end 2. Cost of finished goods inventory at the end 3. Total costs of the units sold