Question
Johnny Company uses the weighted-average method in its process costing system. The company adds materials at the beginning of the process in the Forming Department,
Johnny Company uses the weighted-average method in its process costing system. The company adds materials at the beginning of the process in the Forming Department, which is the first of two stages of its production process. Information concerning the materials used in the Forming Department in April follows:
|
| Units | Materials Costs |
| Work in process at April 1................ | 12,000 | P6,000 |
| Units started during April................ | 100,000 | P51,120 |
| Units completed and transferred to next department during April........ | 88,000 |
|
What was the materials cost of the work in process at April 30?
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