Problem 5 ABS Manufacturing had the following production for the month of July: Units Work in process at July 1 10,000 Started during July 40,000 Completed and transferred to finished goods 33,000 Abnormal spoilage incurred 2,000 Work in process at July 31 15,000 Materials are added at the beginning of the process. As to conversion cost, the beginning work in process was 70% completed while ending work in process is 40% completed. Spoilage is detected at the end of the process. Using the weighted average method, how many were the equivalent units for July for conversion cost? Problem 6-FIFO - Equivalent Production The equivalent production of 22,000 units under the average costing is arrived at as follows: Finished and transferred - 20,000 units x 100% = 20,000 In process, March 31 - 3,000 units x 2/3 = 2,000 With the beginning work in process consisting of 5,000 units, 1/5 done, what should be the equivalent production under FIFO? Problems 8 - By Products Problem 8 - In Department III of SAMCIS Company, a portion of the materials (a byproduct) is removed further processed and sold. The Company uses the reversal cost method to account for the by-product. Data for June include: Amount of by-product removed is 2000 units; Estimated sales price of by-product after processing further is P1.20/unit. Estimated processing cost after separation is P0.30 per unit and estimated selling expenses is 10% of the sales price. The estimated profit margin is 5% of the sales price. What is the total cost of the by-product? Problem 9 - By Product Problem 9 - Using the above data in Problem 8, what is the gain (loss) on sale of the by-product if all of the units are sold at P1.50?