Cost Accounting 306 Problem 4 The following data appeared in the accounting records of The Beautiful Company: Started in process Completed and transferred Work in process, end of month Stage of completion Costs: Materials Labor 12,000 units 10,500 units 1,500 units 2/5 complete P 72,000 88,800 44,400 Overhead One half of the materials are added at the beginning of the process and the balance when the units are one-half completed. Required: Calculate the following: 1. Equivalent production for materials and conversion cost. 2. Cost of the units completed and transferred. 3. Cost of the units in process at the end of the month. Problem 5 ABM Company uses two departments to produce a product. The following data were taken from the books for the month of January, 2019. Department 1 Department 2 Units: Started 60,000 Completed & transferred 40,000 30,000 In process, end 20,000 10,000 Stage of completion 75% 80% Costs: Materials P 480,000 P 245,000 Labor 330,000 Factory overhead 190,000 220,000 114,000 Department 1 - all materials added at the beginning of the process. Department 2 - 50% of the materials are added at the beginning of the process, remaining 50% added at the end of the process. Required: Cost of production report.