Solution-Calculate cost of transferred to finished goods

Calculate cost of transferred to finished goods inventory

Assignment Help Cost Accounting

Reference no: EM132758786

Question - Alberta Instrument Company uses a process costing system. A unit of product passes through three departments - molding, assembly and finishing before it is completed. The following activity took place in the Department during May: WIP, May 1 - 1,400 units; Units transferred in from Assembly Department - 14,000 units; Units transferred out to finished goods inventory - 11,900 units.

Raw material is added at the beginning of processing in the Finishing Department. The work in process inventory was 70% complete to conversion on May 1 and 40% complete to conversion on May 31. Alberta Instrument Company uses the weighted-average method of process costing. The cost per EUP is as follows: transferred in - P5.00; Raw materials - P1.00; Conversion Costs - P3.00. Calculate the cost of units transferred to finished goods inventory during May and the cost of Finishing Department's work in process inventory on May 31.

a. FG - P107,100; WIP - P25,200

b. FG - P107,100; WIP - P6,300

c. FG - P126,000; WIP - P6,300

d. FG - P126,000; WIP - P25,200

Reference no: EM132758786

Questions Cloud

Are clinical practice guidelines used to address the problem : Are clinical practice guidelines used to address this problem? Why or why not? If used, provide a brief overview of the CPG. If a CPG is not used.

What is your annual rate of interest : Your bank will lend you $4,400 for 45 days at a cost of $71 interest. What is your annual rate of interest

What curative factors might be important for the group : Review this week's Learning Resources and reflect on the insights they provide on group work and group therapy. Select one of the articles from the Learning.

What amount of indirect cost would be assigned : If services to a client required $25,000 of attorney cost and $20,000 of paraprofessional cost, what amount of indirect cost would be assigned?

Calculate cost of transferred to finished goods inventory : Calculate the cost of units transferred to finished goods inventory during May and the cost of Finishing Department's work in process inventory on May 31

What rule should managers use to decide how to deploy : What rule should managers use to decide how to deploy capital? What are some ways that shareholders can ensure that managerial decisions are made

Describe two contributions made to nursing : Select a nurse that historically contributed to the advancement of the profession. Write a 2-3 page paper that responds to the following questions.

Compute what would be the total cost to be accounted for : Ridling Corporation had ending work in process, In the department's cost reconciliation report for October, what would be the total cost to be accounted for?

Calculate the cost per unit of the allocation base : Calculate the cost per unit of the allocation base for each activity. Determine the profitability of each of these two customers, using activity-based costing

User Account

All Pages

Calculate cost of transferred to finished goods inventory

Reference no: EM132758786

Reference no: EM132758786

Questions Cloud

Reviews

Write a Review

Cost Accounting Questions & Answers

Cost accounting assignment

Prepare the journal entries

Advise as to the liability of all the parties

Prepare revenues budget

Effect of exchange rate changes on cash and cash

Corporate governance

Cost-benefit analysis

Non-annual interest rates and annuities

Job costing in service organizations

Accounting for bad debt expense

Accounting and partnership problems

Development of relevant cash flows

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT