Reference no: EM132562185
Royce Pogi Manufacturing Co. uses process costing in the manufacture of its sole product. The following information is available for the current year:
Units started 100,000 units
WIP, beg. (80% complete) 20,000 units
Normal spoilage 3,500 units
Abnormal spoilage 5,000 units
WIP, end (20% incomplete) 14,500 units
Cost of beginning WIP
Material P90,000
Conversion 210,000
Current cost
Material 690,000
Conversion 471,150
All materials are added at the start of the process. Royce Pogi inspects goods at 75% completion as to conversion.
Required:
Using FIFO...
Question 1: Compute for the EUP for materials and conversion.
Question 2: Compute for the cost per EUP for materials and conversion.
Question 3: Compute for the cost assigned to units completed.
Question 4: Compute for the cost assigned to the ending inventory.
Using average costing...
Question 5: Compute for the EUP for materials and conversion.
Question 6: Compute for the cost per EUP for materials and conversion.
Question 7: Compute for the cost assigned to units completed.
Question 8: Compute for the cost assigned to the ending inventory.
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Make and journalized the transaction
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