Masipag Company produces a product that undergoes three processes and the completed items at end of process 3 are the items to be sold to customers.. For November 2021, Masipag Company presented the following costs on three processes:A. What is the total units to account for (TUTAF) in Department 1? 23,50022,50025,00021,750 B. What is the equivalent units of production (EUP) on Materials in Department 1? 23,50020,00025,00022,500 Costs incurred:DEPARTMENT 1DEPARTMENT 2DEPARTMENT 338,77534,950MaterialsDirect LaborOverheadMaterials are added at:34,800.0032,550.0026,040.0040% at beginning,30% at 50%complete, andremaining 30% at54,00093,040|13,72027,960100% at thebeginning50% at beginning,50% at 60%completeStarted/Transferred InCompleted and transferred 23,500 unitsIn Process, end25,000 units?22,500 units1,000 units 80%converted?20,500 units1,000 units 30%converted, 1,000 units70% converted1,500 units 60%converted

Equivalent number of units means units completed in the particular period or manufactured in the…

Masipag Company produces a product that undergoes three processes and the completed items at end of process 3 are the items to be sold to customers.. For November 2021, Masipag Company presented the following costs on three processes: A. What is the total units to account for (TUTAF) in Department 1? 23,500 22,500 25,000 21,750 B. What is the equivalent units of production (EUP) on Materials in Department 1? 23,500 20,000 25,000 22,500

Masipag Company produces a product that undergoes three processes and the completed items at end of process 3 are the items to be sold to customers.. For November 2021, Masipag Company presented the following costs on three processes: A. What is the total units to account for (TUTAF) in Department 1? 23,500 22,500 25,000 21,750 B. What is the equivalent units of production (EUP) on Materials in Department 1? 23,500 20,000 25,000 22,500

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 10MC: Direct material costs $3 per unit, direct labor costs $5 per unit, and overhead is applied at the...

See similar textbooks

Similar questions

All costs incidental to materials procurement and handling until they are issued are charged tothe materials account by Cruz Mfg. Co. at a rate predetermined for each of the departmentsinvolved.For 19C, the estimated departmental costs are given:Purchasing department P175,000Receiving and Inspection Dept. 124,500Materials department 83,000Accounting department (20% isestimated to be related toprocessing of payments formaterials.295,000Purchases for 19C were estimated to amount to P5, 000,000 for more or less 8,300,000units to be ordered 50 times.Actual purchases for 19C amounted to P5, 600,000 for total of 8,000,000 units in 52orders. Costs incurred by the four given departments were as follows:Purchasing department P180,000Receiving and inspectiondepartment128,000Materials department 78,000Accounting department (20% isestimated to be related toprocessing of payments formaterials.290,000Required:a. Compute for the predetermined departmental overhead rates.b. How much is the applied…
ssume the following information: Milling Department Materials Conversion Total Cost of beginning work in process inventory $ 10,000 $ 15,000 $ 25,000 Costs added during the period 291,600 394,500 686,100 Total cost $ 301,600 $ 409,500 $ 711,100 Assume the equivalent units of production for materials and conversion, when using the weighted-average method, are 5,200 units and 5,000 units, respectively. If the equivalent units in ending work in process inventory for materials and conversion are 400 units and 200 units, respectively, then what is the total cost of ending work in process for the Milling Department?
Choose the correct letter of answer materials used, P500,000; labor cost, 60% of raw materials used; overhead, 30% of raw materials used; administrative and selling expenses, 40% of labor cost. The total period cost is equivalent to: a. P 120,000b. P890,000c. P800,000d. P590,000
Work in Process, August 31 (50% complete as to conversion cost) 175,000 Trasferred to next department 275,000 Started in August 375,000 Work in Process, August 1 (60% complete as to conversion cost) 150,000 Lost in Production (normal) 75,000 Under FIFO, what are the EUP for conversion?
Eddie Company had the following data available:Direct materials purchased on account P74,000Direct materials requisitioned P41,000Direct-labor cost incurred P65,000Factory overhead incurred P77,000Factory overhead applied P85,000Work in process is increased by _____. a) P334,250 b) P191,000 c) P179,000 d) P139,000
Work in Process, Aug 31 (50% complete as to conversion cost) 175,000 Transferred to next department 275,000 Started in August 375,000 Work in Process, Aug 1 (60% complete as to conversion cost) 150,000 Lost in production (normal) 75,000 Under weighted average, what are the eul for conversion?
Requirements: Total manufacturing costs, $8,250,000 Manufacturing overhead allocated, $4,000,000 (allocated at a rate of 200% of direct manufacturing labor costs) Work-in-process inventory on January 1, 2020, $370,000 Cost of finished goods manufactured, $8,040,000
The following cost relate to COBEED for the year: Distribution Cost 123,000Direct Materials 234,000Conversion cost 456,000Factory overhead 111,000Compute for total prime cost:
Direct, sequential, and reciprocal allocationMing Company has two service departments (S1 and S2) and two production departments (P1 and P2). Last year, directly identified overhead costs were $255,000 for S1 and $320,000 for S2.Information on the consumption of their services follows: Supplying User Departments Departments S1 S2 P1 P2 S1 500 1,200 6,000 1,300 S2 800 200 7,000 9,000 (a) Determine the service department costs allocated to the two production departments using the direct method.Note: Round each rate to two decimal places before calculating the allocated amounts. Round answers to the nearest dollar. Rate Total (rounded to 2 decimals) Total P1 Total P2 (any diff due to rounding) S1 allocation amount Answer Answer Answer S1 allocation amount Answer Answer Answer Total service department costs Answer Answer Answer (b) Determine the service department costs allocated to the two production departments using the…
Determine the costs to be assigned to the ending work in process. A. 60,000.00 B. 207,000.00 C. 57,000.00 D. 267,000.00
question 6. ordered but have not yet recieved, materials costing 70,000. Encumbrances..................................................................................... Encumbrances Outstanding............................................... To record order of materials. (Budgetary entry)
Compute the Equivalent units of production (EUP):Units received from preceding department 25,000 unitsUnits completed and transferred 14,000 unitsUnits in process, end (30% incomplete) 11,000 unitsCompute the equivalent production for conversion if 40% of materials are added at the beginning and the remaining 60% are added 75% completed