Reference no: EM132697664
Problem 1: Monsters Inc. uses two producing departments namely X and Y. In Dep't Y, the second dept, costs are applied evenly throughout the process. Prepare the cost of production report of Dept Y using the following data for February of the current year:
WIP, beg - 6,000 units, ¼ done, P19,710 (50% of which was from department X, 20% for materials, 10% labor, 20% overhead)
Received from Dep't X - 35,000 units @ P3
Factory Costs : Materials, P20,770; Direct Labor, P8,375; FOH, P16,750
WIP, end - 8,000 units ¼ done
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