Process Costing

P-1 COST OF PRODUCTION REPORT - FIFO In March, Department B transferred to Department C,50,000 units costing P150,000. In addition to the above, Department C Provide the following data : In process, beginning: 5,000 units (1/5 completed )P15,670 3,000 units (5/6 completed) - P 10,269 During the month, Department C transferred to stockroom 48,000 units, finished and on hand. Remainder is divided as follows: One-third is 40% complete Two-thirds are 60% complete Cost incurred during the month consist of materials P 15,240 labor P5,030 overhead P6,036. Labor and Overhead are applied uniformly to production. Required: Compute for the Equivalent Units of Production using FIFO and Weighted Average Method. Required: under the following independent cases. Case A. Materials are added 30% at the start; 50% when the process is 1/2 completed and the balance at the end of the process. Case B. Materials are added 50% at the start of the process and 50% at the end of the process