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PROCESS 1- ACTIVITY IWAN Company started its operations for the year 2022 in the month of May. The company has three departments for manufacturing one product continuously. The departments are Cutting Department, Assembly Department, and Finishing Department. The production started in cutting department for 10,000 units. The following pertains for the current month production: IP, End 2,000 units (60% completed) and Completed and Transferred Out 8,000 units - Cost incurred for the month are Direct Materials P10,000, Direct Labor P12,000, and FOH-A P12,000 A. Solve for the following: 1. EUP for Material 8. Total Cost as Acounted 4. Unit cost for Direct Labor 5. Unit Cost for FOH-A 2. EUP for Conversion Cost 3. Unit Cost for Direct 6. Cost Allocated for IP, End Material 7. Cost Allocated for CTO Using the following Assumptions/ Cases: A. Materials are added evenly

PROCESS 1- ACTIVITY IWAN Company started its operations for the year 2022 in the month of May. The company has three departments for manufacturing one product continuously. The departments are Cutting Department, Assembly Department, and Finishing Department. The production started in cutting department for 10,000 units. The following pertains for the current month production: IP, End 2,000 units (60% completed) and Completed and Transferred Out 8,000 units - Cost incurred for the month are Direct Materials P10,000, Direct Labor P12,000, and FOH-A P12,000 A. Solve for the following: 1. EUP for Material 8. Total Cost as Acounted 4. Unit cost for Direct Labor 5. Unit Cost for FOH-A 2. EUP for Conversion Cost 3. Unit Cost for Direct 6. Cost Allocated for IP, End Material 7. Cost Allocated for CTO Using the following Assumptions/ Cases: A. Materials are added evenly

Managerial Accounting
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter3: Process Cost Systems
Section: Chapter Questions
Problem 2BE: Kraus Steel Company has two departments, Casting and Rolling. In the Rolling Department, ingots From...
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With proper solution. Answer 5,6.7,8. I also attached the answer for no.s 1,2,3,4 so you can  answer 5,6,7,8 

Part 1. EUP for materials 9,200 Part 2. EUP for Conversion = 9,200 Part 3. Unit cost for direct materials =P1.09 Part 4. Unit cost for direct labor= P1.30 Step 3 Working notes Case A. Assuming materials are added evenly: Calculation of equivalent units Equivalent units % work for materials Equivalent units % work for Conversion completed Whole units completed Units completed and transferred 8,000 8,000 100% 8,000 100% Ending WIP 2,000 1,200 60% 1,200 60% Total 10,000 9,200 9,200 Calculation of cost per equivalent unit Material Direct labor FOH Costs added during the period Equivalent units Cost per equivalent unit P1.09 P10,000 P12,000 P12,000 9,200 9,200 9,200 P1.30 P1.30 WAS THIS HELPFUL?
Transcribed Image Text:Part 1. EUP for materials 9,200 Part 2. EUP for Conversion = 9,200 Part 3. Unit cost for direct materials =P1.09 Part 4. Unit cost for direct labor= P1.30 Step 3 Working notes Case A. Assuming materials are added evenly: Calculation of equivalent units Equivalent units % work for materials Equivalent units % work for Conversion completed Whole units completed Units completed and transferred 8,000 8,000 100% 8,000 100% Ending WIP 2,000 1,200 60% 1,200 60% Total 10,000 9,200 9,200 Calculation of cost per equivalent unit Material Direct labor FOH Costs added during the period Equivalent units Cost per equivalent unit P1.09 P10,000 P12,000 P12,000 9,200 9,200 9,200 P1.30 P1.30 WAS THIS HELPFUL?
PROCESS 1- ACTIVITY IWAN Company started its operations for the year 2022 in the month of May. The company has three departments for manufacturing one product continuously. The departments are Cutting Department, Assembly Department, and Finishing Department. The production started in cutting department for 10,000 units. The following pertains for the current month production: IP, End 2,000 units (60% completed) and Completed and Transferred Out 8,000 units Cost incurred for the month are Direct Materials P10,000, Direct Labor P12,000, and FOH-A P12,000 A. Solve for the following: 1. EUP for Material 4. Unit cost for Direct Labor 8. Total Cost as Accounted 2. EUP for Conversion Cost 5. Unit Cost for FOH-A 6. Cost Allocated for IP, End 7. Cost Allocated for CTO 3. Unit Cost for Direct Material Using the following Assumptions/ Cases: A. Materials are added evenly B. Materials are added 100% at the beginning of the process C. Materials are added 100% at the end of the process D. Materials are added 50% at the beginning and another 50% at the end of the process E. Materials are added as follows: 30% at the beginning of the process; 20% when the units are 70% completed; and lastly 50% at the end of the process F. Materials are added as follows: 50% at the beginning of the process; 30% when the units are 50% completed; and lastly 20% at the end of the process
Transcribed Image Text:PROCESS 1- ACTIVITY IWAN Company started its operations for the year 2022 in the month of May. The company has three departments for manufacturing one product continuously. The departments are Cutting Department, Assembly Department, and Finishing Department. The production started in cutting department for 10,000 units. The following pertains for the current month production: IP, End 2,000 units (60% completed) and Completed and Transferred Out 8,000 units Cost incurred for the month are Direct Materials P10,000, Direct Labor P12,000, and FOH-A P12,000 A. Solve for the following: 1. EUP for Material 4. Unit cost for Direct Labor 8. Total Cost as Accounted 2. EUP for Conversion Cost 5. Unit Cost for FOH-A 6. Cost Allocated for IP, End 7. Cost Allocated for CTO 3. Unit Cost for Direct Material Using the following Assumptions/ Cases: A. Materials are added evenly B. Materials are added 100% at the beginning of the process C. Materials are added 100% at the end of the process D. Materials are added 50% at the beginning and another 50% at the end of the process E. Materials are added as follows: 30% at the beginning of the process; 20% when the units are 70% completed; and lastly 50% at the end of the process F. Materials are added as follows: 50% at the beginning of the process; 30% when the units are 50% completed; and lastly 20% at the end of the process
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