P9-1 Tampa Corporation uses FIFO process costing. It had the following results in September: Beginning inventory, 60% completed Units completed Ending inventory, 40% completed Cost of beginning inventory Current period costs 2,000 units -8,000 units 1,000 units P 24,000 P158,400 Required: Compute the equivalent unit production for September. Compute the unit cost for September. Compute the cost of ending inventory of work in process. Compute the cost transferred to finished goods. a. b. С. d.

P9-1 Tampa Corporation uses FIFO process costing. It had the following results in September: Beginning inventory, 60% completed Units completed Ending inventory, 40% completed Cost of beginning inventory Current period costs 2,000 units -8,000 units 1,000 units P 24,000 P158,400 Required: Compute the equivalent unit production for September. Compute the unit cost for September. Compute the cost of ending inventory of work in process. Compute the cost transferred to finished goods. a. b. С. d.

Name: “Process Costing Using FIFO Method” p9-1 Tampa Corporation uses FIFO p
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Description: “Process Costing Using FIFO Method” p9-1 Tampa Corporation uses FIFO process costing. It had the following results in September:Beginning inventory, 60%, completedUnits completedEnding inventory, 40% completedCost of beginning inventoryCurrent period

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 2EA: A company started a new product, and in the first month started 100,000 units. The ending work in...

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