Reference no: EM132562188

The department production report of Peninsula Company for August is summarized below:

                                                           Assembly Finishing                             Department Department

Quantity:

Started in Production - Current Month             2,000                             -0-

Transferred in From Prior Department             -0-                                  1,860

Transferred out to Next Department               1,860                                  -0-

Transferred out to Finished goods                   -0-                                  1,800

State of Completion of Ending WIP

Materials Complete 40%

Labor 70% 10%

Overhead 75% 40%

Costs allocated to the departments are presented below:

Materials Labor Overheard

Assembly Department P30,000 P29,670 P18,830

Finishing Department 68,000 13,671 7,825

Required:

Question 1: Make cost of production report for each department. Round total costs to the nearest peso. Use WAM.