Question
PROBLEM: AVERAGE COSTING The addition of water at the start of the process in Dept. B of Mcdo Mfg. Co., increases the quantity by 5%.
PROBLEM: AVERAGE COSTING
The addition of water at the start of the process in Dept. B of Mcdo Mfg. Co., increases the quantity by 5%. The following data pertain to its production for March:
QUANTITY DATA: | |
In process, March 1 | 12,000 units, 1/4 done |
Transferred in | 80,000 units |
In process, March 31 | 10,000 units, 2/5 done |
Cost Data: | |
In process, March 1 | P17,735 |
Breakdown: Cost from Department A P11,800 Cost from Department B: Materials - P3,125; Labor - P1,490; FOH - P1,320 | |
Transferred in | P86,120 |
Cost added in September: Materials - P21,835; Labor - P43,510; FOH - P34,680 |
Materials are added at the start of the process while conversion costs are applied evenly.
QUESTION:
Using the Weighted Average Method, what should be the accumulated cost of work in process as of March 31?
(Solutions must be in good accounting form. Excel form would be good! Account Titles on the left, Amounts on the right. Put tables if necessary. Avoid parenthetical solutions. Thanks a lot!)
HERE IS THE ACTUAL IMAGE OF THE PROBLEM:
PROBLEM 3 The addition of water at the start of the process in Dept. B of Mcdo Mfg. Co., increases the quantity by 5%. The following data pertain to its production for March: Quantity data: In process, March 1 Transferred in In process, March 31 Cost Data: In process, March 1 12,000 units, % done 80,000 units 10,000 units, 2/5 done P 17,735 Breakdown: Cost from Department A Cost from Department B: P 11,800 Materials- P3,125; Labor-P1,490; FOH-P1,320 Transferred In Cost added in September: Materials P21,835; Labor-P43,510; FOH-P34,680 P86,120 Materials are added at the start of the process while conversion costs are applied evenly. Using the weighted average method, what should be the accumulated cost of work in process as of March 31?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started