Reference no: EM132943872
Question - Bill Gate Company incurred costs for materials and conversion in the amount of P 45,000 and P 4,860 respectively. As of the same date, the work in process inventory in units of P 6,000 is 40% complete, as to conversion costs. As of February 28, 2017, the total units to account for amounted to 51,000 units and the work in process inventory in units amounting to 7,500 is 60% as to conversion costs.
During the production period, the company incurred costs of P 56,544 and P 308,250 for conversion and materials, respectively. The company then started and completed 33,600 units during the period.
A machine malfunction or an improper blending of batch of paint usually causes spoilage. It is the policy of Bill Gate Company to consider normal loss up to a maximum of 5% of the started and completed units during the period. Normal losses are accounted to be part of the product costs while excess loss shall be treated as period costs.
Required - How much is the share of the ending work in process in normal loss?
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