Solution-What is the cost of units transferred out

What is the cost of units transferred out

Reference no: EM132940865

Question - The following data has been gathered from the records of Gilas Manufacturing Company for August 2016. The company uses the FIFO process costing method. Materials are added at the beginning of processing; overhead is applied on a direct labor basis. The units are transferred to a second department for packaging.

Beginning WIP inventory 5,000 units (40% completed as to conversion)

Started in August 90,400 units

Ending WIP inventory 4,000 units (70% completed as to conversion)

Cost incurred in August

Materials P433,920

Conversion costs P115,250

Beginning inventory cost totaled P24,875.

Required - What is the cost of units transferred out to Packaging Department in August?

a. P522,720

b. P547,595

c. P526,470

d. P551,345

Reference no: EM132940865

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What is the cost of units transferred out

Reference no: EM132940865

Reference no: EM132940865

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