Quantity data: Beginning WIP Received preceding department Completed and Transferred Ending WIP 40,000 40% complete as to materials and 25% for conversion cost 120,000 130,000 30,000 20% complete as to materials and 30% for conversion cost Beginning Cost data: Balance TMC Cost this department Raw Materials P13,680.00 P72,000.00 38,700.00 96,000.00 P59,460.00 P206,700.00 Conversion Cost 5,780.00 Cost preceding department 40,000.00 Total

Quantity data: Beginning WIP Received preceding department Completed and Transferred Ending WIP 40,000 40% complete as to materials and 25% for conversion cost 120,000 130,000 30,000 20% complete as to materials and 30% for conversion cost Beginning Cost data: Balance TMC Cost this department Raw Materials P13,680.00 P72,000.00 38,700.00 96,000.00 P59,460.00 P206,700.00 Conversion Cost 5,780.00 Cost preceding department 40,000.00 Total

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 8EB: A production department within a company received materials of $7,000 and conversion costs of $5,000...

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