Reference no: EM133063966
Questions -
Q1. Nasiraandin Company started operations in the current month. During the month, 10,000 units were started in Department 1. Of the units started, 1,000 units were spoiled at the end of the process which is considered abnormal in the operations of the company. 7,000 units were transferred to Department 2, and 2,000 remained in work in process at the end of the month, which was 100% complete as to materials and 50% complete as to conversion costs. Materials costs of P30,000 and conversion costs of P45,000 were charged to Department 1 in the current month. What was the cost of work in process ending inventory?
a. P8,000
b. P11,000
c. P16,000
d. P56,000
Q2. What is the value assigned to the by-product and removed from the work in process at the point of separation?
a. P7,800
b. P8,800
c. P9,500
d. P7,500
Q3. Ikawna Corp uses machine hours as a base for its factory overhead rate. The following information is available for the year 2021: Budgeted machine hours, 271,000 MH; FOH rate, P5/MH; Underapplied FOH, P16,900; Actual machine hours, 265,200MH. How much is the actual FOH cost?
a. P1,342,900
b. P1,309,100
c. P1,381,900
d. P1,348,100
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