How much was the total cost to account for

Assignment Help Financial Accounting

Reference no: EM132651677

In June 2020, Shimmer & Shine Co. computed the equivalent unit costs under FIFO process costing as follows:

Direct material P29.50

Packaging 3.00

Direct Labor 10.84

Factory Overhead 7.68

Direct material and packaging are added at the start and end of the processing, respectively. Beginning inventory cost was P1,026,810 and consisted of:

P789,040 direct material cost for 54,000 EUP.
P91,862 direct labor cost for 16,200 EUP.
P145,908 factory overhead cost for 18,900 EUP.

Shimmer & Shine Co. transferred a total of 370,000 units to finished goods during June and had 12,000 units in ending WIP inventory. The ending inventory units were 30% complete as to direct labor and 55% complete as to overhead.

Required:

Question A. What percentage complete were the beginning inventory units as to Direct material? Packaging? Direct labor? Factory overhead?

Question B. What is the total units to account for?

Question C. How much was the total cost to account for?

Question D. What was the total cost of the completed beginning inventory units?

Question E. What was the cost of the units started and completed in June?

Question F. What was the cost of the total units completed and transferred?

Question G. What was the cost of June's ending inventory?

Reference no: EM132651677

Questions Cloud

Case study-improving production at beothic fish : Please discuss the case study, Improving Production at Beothic Fish. Identify the problem, focusing the following elements of the case:

What is profit-maximizing retail price for phil to charge : What is the profit-maximizing retail price for Phil to charge? Phil Pfeifer owns a business refurbishing Army Surplus calculators. He has a contract to buy

Unit F/615/2700 Strategic Human Resource Management : Unit F/615/2700 Strategic Human Resource Management Assignment Help and Solution, ATHE Level 7 Diploma in Management - Assessment Writing Service

Define all the styles of leadership : Whose approach do you favour, Frieda's or Consuela's? Please explain your answer using the concepts you learnt about leadership styles :

How much was the total cost to account for : What percentage complete were the beginning inventory units as to Direct material? Packaging? Direct labor? Factory overhead?

Herzberg motivation-hygiene theory : Herzberg's Theory suggests that pay and benefits are not motivators, because they do not satisfy the worker (who doesn't want more pay or vacation time?).

Curriculum planning-a foundation : Discuss who will be on your curriculum team. Describe how you will conduct a needs assessment. Use a variety of resources and methods, not just test results.

Possible challenges of innovation to organizations : What are the possible challenges of innovation to organizations

How much in accrued salaries should be recognized : Salon has 7 employees and every employee is given 1 day-off every week, how much in accrued salaries should be recognized at the end of September?

User Account

All Pages