Compute for the total cost accounted for using FIFO. ATOZ company's product is manufactured in two departments. Units are inspected at the end of th production process in the first department. Data related to the month of May are: WIP.beg (60% material 35% labor, and 25% FOH), 1,000 units; started in process this period, 9,000 units; WIP,end (100% material 75% labor and 50% FOH), 1,500 units. Cost data follows: WIP,beg Cost this Month Materials Labor P1,260 P36,240 10,780 21,725 770 FOH 1,400

Principles of Cost Accounting
17th Edition
ISBN:9781305087408
Author:Edward J. Vanderbeck, Maria R. Mitchell
Publisher:Edward J. Vanderbeck, Maria R. Mitchell
Chapter5: Process Cost Accounting—general Procedures
Section: Chapter Questions
Problem 3P: Kokomo Kayak Inc. uses the process cost system. The following data, taken from the organizations...
icon
Related questions
Question
Compute for the total cost accounted for using FIFO.
ATOZ company's product is manufactured in two departments. Units are inspected at the end of the
production process in the first department. Data related to the month of May are: WIP,beg (60% materials,
35% labor, and 25% FOH), 1,000 units; started in process this period, 9,000 units; WIP,end (100% materials,
75% labor and 50% FOH), 1,500 units. Cost data follows:
WIP,beg
P1,260
770
Cost this Month
P36,240
10,780
21,725
Materials
Labor
FOH
1,400
Transcribed Image Text:Compute for the total cost accounted for using FIFO. ATOZ company's product is manufactured in two departments. Units are inspected at the end of the production process in the first department. Data related to the month of May are: WIP,beg (60% materials, 35% labor, and 25% FOH), 1,000 units; started in process this period, 9,000 units; WIP,end (100% materials, 75% labor and 50% FOH), 1,500 units. Cost data follows: WIP,beg P1,260 770 Cost this Month P36,240 10,780 21,725 Materials Labor FOH 1,400
Expert Solution
steps

Step by step

Solved in 2 steps

Blurred answer
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Principles of Cost Accounting
Principles of Cost Accounting
Accounting
ISBN:
9781305087408
Author:
Edward J. Vanderbeck, Maria R. Mitchell
Publisher:
Cengage Learning
Managerial Accounting
Managerial Accounting
Accounting
ISBN:
9781337912020
Author:
Carl Warren, Ph.d. Cma William B. Tayler
Publisher:
South-Western College Pub
Cornerstones of Cost Management (Cornerstones Ser…
Cornerstones of Cost Management (Cornerstones Ser…
Accounting
ISBN:
9781305970663
Author:
Don R. Hansen, Maryanne M. Mowen
Publisher:
Cengage Learning
Principles of Accounting Volume 2
Principles of Accounting Volume 2
Accounting
ISBN:
9781947172609
Author:
OpenStax
Publisher:
OpenStax College
Managerial Accounting: The Cornerstone of Busines…
Managerial Accounting: The Cornerstone of Busines…
Accounting
ISBN:
9781337115773
Author:
Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:
Cengage Learning