Please give solution to this#1 Total cost of the work in process at the end using Average Method isA. P 3,577B. P 3,477C. P 3,528D. P 3,500#2 Total cost of the work in process at the end using FIFO Method isA. P 3,577B. P 3,477C. P 3,528D. P 3,500 The following information pertains to the production process of GSM Blue Manufacturing Company forMarch 2022:a. Opening inventory, 100% material, 50% convertedPut in process during the periodUnits completed and transferredIn process end, 100% materials, 60% converted4,000 units20,000 units21,000 unitsb. CostsPrior periodP 1,9921,074This periodP 12,0009,984(100% of direct labor)MaterialLaborOverhead846

As per the weighted average method Weighted average method takes cost of both prior period and…

Please give solution to this #1 Total cost of the work in process at the end using Average Method is A. P 3,577 B. P 3,477 C. P 3,528 D. P 3,500 #2 Total cost of the work in process at the end using FIFO Method is A. P 3,577 B. P 3,477 C. P 3,528 D. P 3,500

Please give solution to this #1 Total cost of the work in process at the end using Average Method is A. P 3,577 B. P 3,477 C. P 3,528 D. P 3,500 #2 Total cost of the work in process at the end using FIFO Method is A. P 3,577 B. P 3,477 C. P 3,528 D. P 3,500

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 3EA: Given the following information, determine the equivalent units of ending work in process for...

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Concept explainers

Manufacturing Costs

Manufacturing cost is the total cost of procuring or producing a product. In other words, the manufacturing cost is the cost that an individual or business owner undertakes for the manufacturing of goods.

Question

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Please give solution to this

#1 Total cost of the work in process at the end using Average Method is
A. P 3,577
B. P 3,477
C. P 3,528
D. P 3,500

#2 Total cost of the work in process at the end using FIFO Method is
A. P 3,577
B. P 3,477
C. P 3,528
D. P 3,500

The following information pertains to the production process of GSM Blue Manufacturing Company for
March 2022:
a. Opening inventory, 100% material, 50% converted
Put in process during the period
Units completed and transferred
In process end, 100% materials, 60% converted
4,000 units
20,000 units
21,000 units
b. Costs
Prior period
P 1,992
1,074
This period
P 12,000
9,984
(100% of direct labor)
Material
Labor
Overhead
846

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