Cost Accounting

Sample manufacturing Company has two producing departments namely, P1 and P2. After the goods are processed in department P1, they are transferred to department P2 for further processing. In department P2 cost are applied evenly throughout the process. The following data are given on department P2's production for December, 2019 No. of days Quantity data: processed Transferred Out 35,000 units Finished and on hand 200 units In process, December 1, 2019 9,000 units 5 days In process, December 31, 2019 5,000 units 3 days Transferred in ? @P2.00 Cost data: Factory cost, December, 2019: Materials 60,000.00 Labor 45,000.00 Factory overhead 15,000.00 In process December 1, 2019 35,000.00 Note: Length of manufacturing process = 15 days