Solution-What is the equivalent units of production for

What is the equivalent units of production for materials

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Reference no: EM133016153

Question - Wartortle Company manufactures chemical products through continuous process in different departments. Each department has an independent cost accountant who prepares cost of production report. The company uses FIFO costing method.

As the assigned cost accountant, the following production data for Department 1 for the month of November 2017 were provided:

Work in process, November 1 (70% completed): 7,000 liters

Started in process: 35,000 liters

Work in process, November 30 (60% completed): 6,000 liters

Normal lost units (continuous): 1,000 liters

In this department, costs are applied as follows:

Materials - added at the start

Labor and overhead - uniformly applied throughout the production process

The below were costs incurred in November for Department 1:

Materials: P44,200

Direct Labor: 15,750

Overhead: 9,525

Work in process - November 1: 10,000

Required - What is the equivalent units of production for materials? How much is the cost allocated to ending work in process?

Reference no: EM133016153

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What is the equivalent units of production for materials

Reference no: EM133016153

Reference no: EM133016153

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