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Biogenic Company uses the FIFO method in its process costing system. The following data are taken from the accounting records of a particular department for
Biogenic Company uses the FIFO method in its process costing system. The following data are taken from the accounting records of a particular department for June:
Beginning Work in Process
Costs
P26,250
Units
30,000
Percentage of Completion
Materials
100%
Conversion
60%
Cost per EUP
Materials
P1.75
Conversion
P0.50
Units Completed and transferred out
112,500 units
The cost of the 112,500 units transferred out is:
a.
P197,250
b.
P253,125
c.
P217,875
d.
P226,875
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