Using FIFO, compute for the total cost transferred to finished goods if the losses were discovered at the end of process and were considered abnormal. Malleynila Company manufactures a single product in two process departments. Costs and production data to the month of November follows: COSTS ASSEMBLY FINISHING Wip, beg (50% materials, 30% labor, 20% overhead) 9,750.00 18,000.00 Materials 64,000.00 Labor 47,250.00 85,800.00 Factory overhead 31,500.00 47,200.00 QUANTITY Wip, beg 1/2 complete 3,000.00 4,000.00 Started in process Completed and transferred 33,000.00 30,000.00 25,000.00 Wip, end 40% to complete 5,000.00 6,000.00

Using FIFO, compute for the total cost transferred to finished goods if the losses were discovered at the end of process and were considered abnormal. Malleynila Company manufactures a single product in two process departments. Costs and production data to the month of November follows: COSTS ASSEMBLY FINISHING Wip, beg (50% materials, 30% labor, 20% overhead) 9,750.00 18,000.00 Materials 64,000.00 Labor 47,250.00 85,800.00 Factory overhead 31,500.00 47,200.00 QUANTITY Wip, beg 1/2 complete 3,000.00 4,000.00 Started in process Completed and transferred 33,000.00 30,000.00 25,000.00 Wip, end 40% to complete 5,000.00 6,000.00

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Description: Using FIFO, compute for the total cost transferred to finished goods if the losseswere discovered at the end of process and were considered abnormal.Malleynila Company manufactures a single product in two process departments. Costs andproduction dat

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 7BE: In October, the cost of materials transferred into the Rolling Department from the Casting...

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