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How much is the cast of transferred out

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Question - Holiday Company produces dog food. All direct materials are entered at the beginning of the process. Some shrinkage occurs during the production process, but management considers any shrinkage of up to 5% of started during the month to be normal. May 2019 data are as follows:

Beginning WIP {45% complete) 36,000 pounds

Started during the month 120,000 pounds

Transferred to FG 126,000 pounds

Ending WIP (70% incomplete) 22,000 pounds

Beginning work in process: Materials - P24,000; Conversion - P9,800. Current period costs: Materials - P86,640; Conversion - P54,444. The company uses FIFIDI Method. How much is the cast of transferred out?

Reference no: EM133143452

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