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Venti Chemicals has a Mixing Department and a Refining Department. Its process-costing system in the Mixing Department has two direct materials cost categories (Chemical X and Chemical Y) and one conversion costs pool. The following data pertain to the Mixing Department for July 2006: Units Work in process, July 1 Units started 50, 000 Completed and transferred to Refining Department 35, 000 Costs Chemical X Chemical Y Conversion costs P250, 000 70, 000 135, 000 Chemical X is introduced at the start of operations in the Mixing Department, and Chemical Y is added when the product is three-fourths completed in the Mixing Department. Conversion costs are added evenly during the process. The ending work in process in the Mixing Department is two-thirds complete. 4. The equivalent units in the Mixing Department for July 2006 for conversion costs is 50, 000 55, 000 40, 000 45, 000 a. b. C. d. 5. The cost of goods completed and transferred to the Refining Department during July is P350, 000 P225, 000 P550, 000 P375, 000 a. b. с. d. 6. The cost of work in process as of July 31, 2006 is P75, 000 P140, 000 P100, 000 а. b. с. d. P105, 000

Venti Chemicals has a Mixing Department and a Refining Department. Its process-costing system in the Mixing Department has two direct materials cost categories (Chemical X and Chemical Y) and one conversion costs pool. The following data pertain to the Mixing Department for July 2006: Units Work in process, July 1 Units started 50, 000 Completed and transferred to Refining Department 35, 000 Costs Chemical X Chemical Y Conversion costs P250, 000 70, 000 135, 000 Chemical X is introduced at the start of operations in the Mixing Department, and Chemical Y is added when the product is three-fourths completed in the Mixing Department. Conversion costs are added evenly during the process. The ending work in process in the Mixing Department is two-thirds complete. 4. The equivalent units in the Mixing Department for July 2006 for conversion costs is 50, 000 55, 000 40, 000 45, 000 a. b. C. d. 5. The cost of goods completed and transferred to the Refining Department during July is P350, 000 P225, 000 P550, 000 P375, 000 a. b. с. d. 6. The cost of work in process as of July 31, 2006 is P75, 000 P140, 000 P100, 000 а. b. с. d. P105, 000

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 7BE: In October, the cost of materials transferred into the Rolling Department from the Casting...
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Venti Chemicals has a Mixing Department and a Refining Department. Its process-costing system in the Mixing Department has two direct materials cost categories (Chemical X and Chemical Y) and one conversion costs pool. The following data pertain to the Mixing Department for July 2006: Units Work in process, July 1 Units started 50, 000 35, 000 Completed and transferred to Refining Department Costs Chemical X P250, 000 70, 000 135, 000 Chemical Y Conversion costs Chemical X is introduced at the start of operations in the Mixing Department, and Chemical Y is added when the product is three-fourths completed in the Mixing Department. Conversion costs are added evenly during the process. The ending work in process in the Mixing Department is two-thirds complete. 4. The equivalent units in the Mixing Department for July 2006 for conversion costs is 50, 000 55, 000 40, 000 45, 000 a. b. C. d. 5. The cost of goods completed and transferred to the Refining Department during July is а. P350, 000 b. P225, 000 P550, 000 P375, 000 с. d. 6. The cost of work in process as of July 31, 2006 is а. P75, 000 P140, 000 P100, 000 b. c. d. P105, 000
Transcribed Image Text:Venti Chemicals has a Mixing Department and a Refining Department. Its process-costing system in the Mixing Department has two direct materials cost categories (Chemical X and Chemical Y) and one conversion costs pool. The following data pertain to the Mixing Department for July 2006: Units Work in process, July 1 Units started 50, 000 35, 000 Completed and transferred to Refining Department Costs Chemical X P250, 000 70, 000 135, 000 Chemical Y Conversion costs Chemical X is introduced at the start of operations in the Mixing Department, and Chemical Y is added when the product is three-fourths completed in the Mixing Department. Conversion costs are added evenly during the process. The ending work in process in the Mixing Department is two-thirds complete. 4. The equivalent units in the Mixing Department for July 2006 for conversion costs is 50, 000 55, 000 40, 000 45, 000 a. b. C. d. 5. The cost of goods completed and transferred to the Refining Department during July is а. P350, 000 b. P225, 000 P550, 000 P375, 000 с. d. 6. The cost of work in process as of July 31, 2006 is а. P75, 000 P140, 000 P100, 000 b. c. d. P105, 000
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