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Question -
Q1. The Iloilo Company uses process costing. In Department 2, conversion costs are incurred uniformly throughout the process. Materials are added at the end of the process, following inspection. Normal spoilage is expected to be 5% of good output. Information pertaining to Department 2 include: Units received from Department 1 is 12,000 at a cost of P84,000. Units transferred to finished goods is 9,000 and there are 2,000 units in the ending inventory which are 70% complete. Costs incurred in this department include: Materials - P18,000 with Labor and overhead at P45,600. How much is the cost of goods manufactured in Department 2?
Q2. Materials are added at the start of the process in Department B. Units received from Department A cost P11.10 and in Department B, unit costs are P1 for materials and P1.22 for conversion cost. Quantity Data include: In process, July 1 at 8,000 units, 3/4 done; Received from Dept. A is 50,000 units; In process, July 31 is 10,000 units, 1/5 done. Normal loss at the end is 3,000 units. Estimated recovery from spoiled units is P3,000. What should be the accumulated cost of the July 31 work in process?
If purchasing power parity holds, what is the spot exchange rate between the euro and the dollar? Do not round intermediate calculations.
Assess whether the direct or indirect cash flow statement is higher quality financial reporting, consider whether direct cash flow information (1) is useful for predictive purposes, or (2) is valued in the direct cash flow reporting format, relati..
yummy-pop ltd makes lollipops in two sizes large and giant. the company sells these lollipops to convenience stores
HyunBin Company adds materials in the beginning of the process, Using the average cost method, what were the materials cost of work in process at October 31?
The cost of operating this facility is estimated to be about $20,000 per year plus salaries of $100,000 annually. The insurance on the facility will be $3,000 per year. What is the annual cost of this facility to the community
he beginning WIP Inventory is 100% complete for direct materials and 50% complete for conversion. What are the equivalent units for materials
He received loan from the employer of RS. 2,500,000. Interest on the loan is 17%. Calculate taxable income and Tax amount for the tax year
Identify whether you should reduce variable or fixed costs. What will be the impact on the company in the future?
indicate and describe whether each of the subsequent independent situations should be treated as a temporary difference
Prepare the journal entries that Branch-Rickie recorded during the three-year period for these transactions. (If no entry is required for a particular transaction, select "No journal entry required" in the first account field. Enter your answers in w..
Compute the labor turnover rate using replacement method based on the given information: Employee resignations, 8; Employees recruited, 5
ABC Limited produces a product which has a monthly demand of 52,000 units. Calculate the economic order quantity for Component P
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