Process Costing at Procter & Gamble

• Values:
  • Beginning Work in Process: $60,000
  • Total Manufacturing Costs: $700,000
  • Ending Work in Process: $40,000
  • Units Completed: 60,000 units

• Requirements:
  1. Calculate the cost per equivalent unit using the FIFO method.
  2. Determine the cost of goods manufactured and transferred out.
  3. Discuss the advantages of process costing in consumer goods production.
  4. Recommend ways to optimize process costing at Procter & Gamble.