The Forming Dept. is the 1st of a two-stage prodn. process. Spoilage is identified when the units have completed the forming process. Cost of spoiled units are assigned to units completed & transferred to the 2nd dept. in the period spoilage is identified. The ff. info. concerns Forming's conversion cost in May 2019. Units Conversion Cost Beg. WIP (50% complete) 2,000 10,000 Units started May 8,000 75,500 spoilage -normal 500 units completed & transferred 7,000 End WIP (80% complete) 2,500 Using the weighted average method, what was Forming's conversion cost transferred to the 2nd dept.? 8. Thames Company uses the FIFO method in its process costing system. The following information was obtained from the accounting records of the Finishing Department during November: Number of Units Conversion Costs (%age Complete) Work in process, 11/1 50,000 20% Transferred-in during November 150,000 Work in process, 11/30 30,000 60% University of Luzon COLLEGE of ACCOUNTANCY ACC415/416/417/ACP: Midterm_Semi-final Examination 3 November Costs: Transferred-in Materials Conversion Beginning inventory P100,000 P75,000 P15,000 Costs added in November P300,000 P337,500 P560,700 All materials are added at the beginning of the manufacturing process. The cost assigned to the ending inventory is: