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EFG Corporation's packaging department for the month of December has the following data: Units No. of Units % Completion WIP as of Dec. 1 250
EFG Corporation's packaging department for the month of December has the following data: Units No. of Units % Completion WIP as of Dec. 1 250 40% Started to Process 3,500 WIP as of Dec. 31 500 65% Costs In Process, Dec. 1 9,000 Costs added to Production: Material 525,600 Conversion Cost 619,800 Required: Prepare the COPR using FIFO Method. The company adds 30% of material at the beginning of the process, 30% at 75% of the process and the rest at 100%. Conversion cost is applied evenly. Use 2 decimal places. Finished and transferred Units WDM to the next department EPM WDC EPC WIP, Beg Started to Process Total Units transferred WIP, End Total Units as Accounted for Cost Amount Unit Cost Analysis Cost incurred during the month Material Labor Overhead Labor Overhead Total cost to be Accounted for Finished and transferred to the next department Amount WIP, Beg Cost last month Cost this month Started to process Cost from previous department Cost this month Total Cost of Transfer WIP, WIP, Ending Cost from previous department Cost this month Total Cost as Accounted for EFG Corporation's packaging department for the month of December has the following data: Units No. of Units % Completion WIP as of Dec. 1 250 40% Started to Process 3,500 WIP as of Dec. 31 500 65% Costs In Process, Dec. 1 9,000 Costs added to Production: Material 525,600 Conversion Cost 619,800 Required: Prepare the COPR using FIFO Method. The company adds 30% of material at the beginning of the process, 30% at 75% of the process and the rest at 100%. Conversion cost is applied evenly. Use 2 decimal places. Finished and transferred Units WDM to the next department EPM WDC EPC WIP, Beg Started to Process Total Units transferred WIP, End Total Units as Accounted for Cost Amount Unit Cost Analysis Cost incurred during the month Material Labor Overhead Labor Overhead Total cost to be Accounted for Finished and transferred to the next department Amount WIP, Beg Cost last month Cost this month Started to process Cost from previous department Cost this month Total Cost of Transfer WIP, WIP, Ending Cost from previous department Cost this month Total Cost as Accounted for
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