Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

1.A. Cost of Production Report The manufacturing operations of Gilo Inc, consist of 3 departments, Department X, Y and Z. During the month of March

image text in transcribed

image text in transcribed

1.A. Cost of Production Report The manufacturing operations of Gilo Inc, consist of 3 departments, Department X, Y and Z. During the month of March 2021, Department X transferred 15,000 units to Department Y with a total cost of P16,500. Data for Departments Y and Z are as follows: Units: Department y Department Z In process, March 1 1,000 2,000 Stage of completion 3/4 1/5 Transferred to next department 13,500 14,000 In process, March 31 ? ? Stage of completion 2/5 1/3 Costs: Unit cost of transfer to next department P2.16 P 3.00 Current Costs: Materials P 6,875 P 5,320 Labor 4,125 2,660 Overhead 2,750 2,660 Required: Cost of Production Report for Department Y and Z. 2.B. Cost of Lost Units Department B received 8,000 units at a cost of P16,000. Five thousand units were completed and transferred to storeroom, while 2,000 units were still in process on April 30, 1/2 completed , and 1,000 units were lost at the end of the process. The total costs incurred in this department for materials, labor and overhead during the month totaled P10,500. Required: Costs of the 1,000 lost units at the end of the process

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Beyond Compliance Design Of A Quality System Tools And Templates For Integrating Auditing Perspectives

Authors: Janet Bautista Smith, Robert Alvarez

1st Edition

1951058232, 978-1951058234

More Books

Students also viewed these Accounting questions

Question

b. What groups were most represented? Why do you think this is so?

Answered: 1 week ago

Question

3. Describe phases of minority identity development.

Answered: 1 week ago

Question

5. Identify and describe nine social and cultural identities.

Answered: 1 week ago