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What is the total costs transferred from Department 1 to Department 2?

What is the total costs transferred from Department 1 to Department 2?

Principles of Accounting Volume 2
Principles of Accounting Volume 2
19th Edition
ISBN:9781947172609
Author:OpenStax
Publisher:OpenStax
Chapter5: Process Costing
Section: Chapter Questions
Problem 10MC: Direct material costs $3 per unit, direct labor costs $5 per unit, and overhead is applied at the...
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Zoey Company produces a product that undergoes three processes and the completed items at end of process 3 are the items to be sold to customers.. For November 2021, Masipag Company presented the following costs on three processes:

A.What is the total costs transferred from Department 1 to Department 2?
 
P  84,040
P110,450
P  70,760
P115,760
 
B. What is the total costs transferred from Department 2 to Department 3?
P177,185
P184,175
P212,135
P203,625
Costs incurred: Process 1 Process 2 Process 3 45,000 39,040 31,720 Materials 38,775 34,800.00 Direct Labor 34,950 32,550.00 26,040.00 100% at the beginning 50% at beginning, 50% 40% at beginning, 30% at 50% complete, and remaining 30% at 80% Overhead 27,960 Materials are added at: at 60% complete complete. 25,000 units Completed and transferred ou 23,500 units 1,500 units 60% converted Started/Transferred In ? ? 22,500 units 1,000 units 80% 20,500 units 1,000 units 30% converted, 1,000 units 70% converted In Process, end converted
Transcribed Image Text:Costs incurred: Process 1 Process 2 Process 3 45,000 39,040 31,720 Materials 38,775 34,800.00 Direct Labor 34,950 32,550.00 26,040.00 100% at the beginning 50% at beginning, 50% 40% at beginning, 30% at 50% complete, and remaining 30% at 80% Overhead 27,960 Materials are added at: at 60% complete complete. 25,000 units Completed and transferred ou 23,500 units 1,500 units 60% converted Started/Transferred In ? ? 22,500 units 1,000 units 80% 20,500 units 1,000 units 30% converted, 1,000 units 70% converted In Process, end converted
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