Here's a copy of the problem we solved last time as a seatwork. Practice solving this problem.
See you tomorrow.
Mr. Paulo Dalaota
ABC Company produces various kinds of candy and accumulates costs using process costing. The following information is provided under the Mixing department for the month of August: Whole Units
Work in Process, August 1 40,000 gallons Units Started and Completed this Period 60,000 gallons Units Completed and transferred out during August 100,000 gallons Work in Process, August 31 20,000 gallons
Work in Process, August 1 Php 347,280 Costs incurred during August Direct Materials Cost Php 96,000 Conversion Cost Php 784,400
Percentage of Completion – Conversion
Work in Process, August 1 80% Work in Process, August 31 30% For numbers 1-5
Use First In–First Out (FIFO) cost method in completing the following requirements: 1. Determine the number of whole units to be accounted for and to be assigned costs for August. 2. Determine the equivalent units of production for materials and conversion for the Mixing Department. 3. Determine the cost per...