Consider the following data. Department B of Ethel Manufacturing Corp. suffers an average of evaporation loss of 10%. The following data were obtainedfor the month of October, 2019:Units:In process, October 1 (2/5 completed)9,600 gallonsReceived from Department A30,000 gallonsFinished and transferred25,200 gallonsIn process, October 31 (1/4 complete)11.700 gallonsCosts:In process beginningP5,760Received from Department A30,000Current costsMaterials19,440Labor7,290Overhead2,430Under FIFO, how much is the unit cost? Consider the following data. Department B of Ethel Manufacturing Corp. suffers an average of evaporation loss of 10%. The following data were obtainedfor the month of October, 2019:Units:In process, October 1 (2/5 completed)9.600 gallonsReceived from Department A30,000 gallonsFinished and transferred25.200 gallonsIn process, October 31 (1/4 complete)11,700 gallonsCosts:In process beginningP5,760Received from Department A30,000Current costsMaterials19,440Labor7.290Overhead2,430Under FIFO, how many units is the Equivalent Units Of Production (EUP)

In the given question Calculation of Actual opening WIP Evaporation loss = ( 2/5 x 100 ) x 10% = 4%…

Answered: onsider the following data. Department…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Consider the following data. Department B of Ethel Manufacturing Corp. suffers an average of evaporation loss of 10%. The following data were obtained for the month of October, 2019:                Units:                               In process, October 1 (2/5 completed)         9,600 gallons                               Received from Department A                         30,000 gallons                               Finished and transferred                                  25,200 gallons                               In process, October 31 (1/4 complete)           11,700 gallons                Costs:                               In process beginning                                        P5,760                               Received from Department A                         30,000                               Current costs                                            Materials                                            19,440                                              Labor…
Consider the following data. Department B of Ethel Manufacturing Corp. suffers an average of evaporation loss of 10%. The following data were obtained for the month of October, 2019:                Units:                               In process, October 1 (2/5 completed)         9,600 gallons                               Received from Department A                         30,000 gallons                               Finished and transferred                                  25,200 gallons                               In process, October 31 (1/4 complete)           11,700 gallons                Costs:                               In process beginning                                        P5,760                               Received from Department A                         30,000                               Current costs                                            Materials                                            19,440                                              Labor…
Consider the following data. Department B of Ethel Manufacturing Corp. suffers an average of evaporation loss of 10%. The following data were obtained for the month of October, 2019:                Units:                               In process, October 1 (2/5 completed)         9,600 gallons                               Received from Department A                         30,000 gallons                               Finished and transferred                                  25,200 gallons                               In process, October 31 (1/4 complete)           11,700 gallons                Costs:                               In process beginning                                        P5,760                               Received from Department A                         30,000                               Current costs                                            Materials                                            19,440                                              Labor…
Consider the following data. Department B of Ethel Manufacturing Corp. suffers an average of evaporation loss of 10%. The following data were obtained for the month of October, 2019:                Units:                               In process, October 1 (2/5 completed)         9,600 gallons                               Received from Department A                         30,000 gallons                               Finished and transferred                                  25,200 gallons                               In process, October 31 (1/4 complete)           11,700 gallons                Costs:                               In process beginning                                        P5,760                               Received from Department A                         30,000                               Current costs                                            Materials                                            19,440                                              Labor…
Consider the following data. Department B of Ethel Manufacturing Corp. suffers an average of evaporation loss of 10%. The following data were obtained for the month of October, 2019: Units: In process, October 1 (2/5 completed)         9,600 gallons Received from Department A                         30,000 gallons Finished and transferred                                  25,200 gallons In process, October 31 (1/4 complete)           11,700 gallons Costs: In process beginning                                        P5,760 Received from Department A                         30,000 Current costs Materials                                            19,440 Labor                                                  7,290 Overhead                                           2,430 Required: a) Under FIFO, how much is the unit cost? b) Under FIFO, how much is the cost of the work in process at the beginning? c) Under FIFO, how much is the cost of the completed units( finished and transferred…
Consider the following data. Department B of Ethel Manufacturing Corp. suffers an average of evaporation loss of 10%. The following data were obtained for the month of October, 2019: Units: In process, October 1 (2/5 completed)         9,600 gallons Received from Department A                         30,000 gallons Finished and transferred                                  25,200 gallons In process, October 31 (1/4 complete)           11,700 gallons                Costs: In process beginning                                        P5,760 Received from Department A                         30,000 Current costs Materials                                            19,440 Labor                                                  7,290 Overhead                                           2,430 Required: a) Under Weighted Average Method, what was the total unit cost? b) Under Weighted Average Method, how much was the cost of the Finished and Transferred out units? c) Under Weighted Average…
Consider the following data. Department B of Ethel Manufacturing Corp. suffers an average of evaporation loss of 10%. The following data were obtained for the month of October, 2019:                Units:                               In process, October 1 (2/5 completed)         9,600 gallons                               Received from Department A                         30,000 gallons                               Finished and transferred                                  25,200 gallons                               In process, October 31 (1/4 complete)           11,700 gallons                Costs:                               In process beginning                                        P5,760                               Received from Department A                         30,000                               Current costs                                            Materials                                            19,440                                              Labor…
Consider the following data. Department B of Ethel Manufacturing Corp. suffers an average of evaporation loss of 10%. The following data were obtained for the month of October, 2019: Units: In process, October 1 (2/5 completed)         9,600 gallons Received from Department A                         30,000 gallons Finished and transferred                                  25,200 gallons In process, October 31 (1/4 complete)           11,700 gallons Costs: In process beginning                                        P5,760 Received from Department A                         30,000 Current costs Materials                                            19,440 Labor                                                  7,290 Overhead                                           2,430 Required: a) Under FIFO, how much is the cost of the work in process at the end? b) Under Weighted Average Method, the EUP, Finished and Transferred was how many units? c) Under Weighted Average Method, the EUP…
Consider the following data. Department B of Ethel Manufacturing Corp. suffers an average of evaporation loss of 10%. The following data were obtained for the month of October, 2019:                Units:                               In process, October 1 (2/5 completed)         9,600 gallons                               Received from Department A                         30,000 gallons                               Finished and transferred                                  25,200 gallons                               In process, October 31 (1/4 complete)           11,700 gallons                Costs:                               In process beginning                                        P5,760                               Received from Department A                         30,000                               Current costs                                            Materials                                            19,440                                              Labor…
Consider the following data. Department B of Ethel Manufacturing Corp. suffers an average of evaporation loss of 10%. The following data were obtained for the month of October, 2019: Units: In process, October 1 (2/5 completed) 9,600 gallons Received from Department A 30,000 gallons Finished and transferred 25,200 gallons In process, October 31 (1/4 complete) 11,700 gallons Costs: In process beginning P5,760 Received from Department A 30,000 Current costs Materials 19,440 Labor 7,290 Overhead 2,430 Required: 1. Under FIFO method, what was the actual units of the Work in Process Beginning Inventory? 2. Under FIFO method, what was the actual units of the Work in Process Inventory at the End? 3. Under FIFO,…
In June of the current year, Department 2 (last department) received 80,000 units from Department 1. At the end of the month, it completed 84,000 units, including 16,000 units in the beginning that are 60% converted and reported that 8,000 units are 50% converted. Based on company’s experience, normal spoilage is anticipated to be 2% of units that reached the inspection point. The cost of abnormal spoilage, if any, is charged to period cost. Materials are added at the start of the process in Department 1 while packaging materials are added at the end of the process in Department 2. Inspection is done at the end of the process. The following unit cost per EUP is available:The cost of goods manufactured for the period is: A. 778,000 B. 919,200 C. 925,080 D. 925,760
In June of the current year, Department 2 (last department) received 80,000 units from Department 1. At the end of the month, it completed 84,000 units, including 16,000 units in the beginning that are 60% converted and reported that 8,000 units are 50% converted. Based on company’s experience, normal spoilage is anticipated to be 2% of units that reached the inspection point. The cost of abnormal spoilage, if any, is charged to period cost. Materials are added at the start of the process in Department 1 while packaging materials are added at the end of the process in Department 2. Inspection is done at the end of the process. The following unit cost per EUP is available:The cost of goods manufactured for the period is:

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