1. In January 2022, Lancaster Company started producing high-quality batteries using process costing system. During the month, 11,000 units were started in process costing a total of P81,900 consisting of materials - P15,950, labor P40,950, and overhead P25,200. All materials needed are added at the beginning of the process. There were 2,000 units still in process at January 31. These units were done as to conversion costs.

Questions

What is the equivalent units of the materials for January?

What is the equivalent units of the labor for January?

What is the equivalent units of the factory overhead for January?

What is the materials cost per unit in January?

What is the materials cost per unit in January?

What is the factory overhead cost per unit in January?

Compute the cost of completed units.

Compute the cost of work in process at January 31, 2022.

2.Cindy Lou is a company that sells food processors and manufactures them in a single continuous process. At the end of August, there were 200 units valued at P30,095, which consists of P25,200 in material cost and P4,895 in conversion cost. These units were 100% complete as to materials and 25% complete as to conversion cost. There were 1,200 units added to production during September. Production costs for the month include materials of P168,000 and conversion cost of P158,125. Processors that have not been completed at the end of September totaled 200 units and were 100% complete as to materials and 50% complete as to conversion cost. There were no units lost in the process.

Question: AVERAGE

If Cindy Lou uses the average method of inventory valuation, what is the equivalent units of materials for September?

If Cindy Lou uses the average method of inventory valuation, what is the equivalent units of conversion cost for September?

If Cindy Lou uses the average method of inventory valuation, what is the materials cost per unit in September?

If Cindy Lou uses the average method of inventory valuation, what is the conversion cost per unit in September?

If Cindy Lou uses the average method of inventory valuation, compute the cost of completed units.

If Cindy Lou uses the average method of inventory valuation, compute the cost of work in process, Sept. 30.

Questions: FIFO

If Cindy Lou uses the FIFO method of inventory valuation, what is the equivalent units of materials for September?

If Cindy Lou uses the FIFO method of inventory valuation, what is the equivalent units of conversion cost for September?

If Cindy Lou uses the FIFO method of inventory valuation, what is the materials cost per unit in September?

If Cindy Lou uses the FIFO method of inventory valuation, what is the conversion cost per unit in September?

If Cindy Lou uses the FIFO method of inventory valuation, compute the cost of completed units.

If Cindy Lou uses the FIFO method of inventory valuation, compute the cost of work in process, Sept. 30.