Problem 7: Cost of Production Report Helen Company uses FIFO process costing. Dta are as follows:b Beginning inventory 40% complete 25,000 units Units completed during period 500,000 units Ending inventory 70% complete 45,000 units The cost of the beginning inventory was P14,500 and current period production cost were P834,400. Required: Compute the cost of goods coompleted and transferred to finished goods inventory.

Problem 7: Cost of Production Report Helen Company uses FIFO process costing. Dta are as follows:b Beginning inventory 40% complete 25,000 units Units completed during period 500,000 units Ending inventory 70% complete 45,000 units The cost of the beginning inventory was P14,500 and current period production cost were P834,400. Required: Compute the cost of goods coompleted and transferred to finished goods inventory.

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 9EB: Production data show 15,200 units were transferred out of a stage of production and 3,500 units...

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