Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. topic: average and fifo costing problem 13 samah

Topic: Average and FIFO Costing Problem 13 Samahan, Inc. manufactures a highly sensitive...

50.1K

Verified Solution

Question

Accounting

image

Topic: Average and FIFO Costing

Problem 13 Samahan, Inc. manufactures a highly sensitive smoke alarm and uses the FIFO method. In costing finished goods, the unit costs for units completed from the work in-process at the beginning of the period is kept separate from the unit cost of those started and completed during the period. The total manufacturing costs for the monti of June, 2016 is P264,000 and 2,750 units are completed during the month. 1.250 units 600 units P128.000 76,800 The inventories at the beginning of June are: Smoke alarm in process (80% complete) Smoke alarms on hand (complete) The inventories at the end of June are: Smoke alarm in process (50% complete) Smoke alarms on hand (complete) 500 units 700 units Required 1. Total cost of the units in process, end 2. Cost of finished goods inventory at the end 3. Total costs of the units sold

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

500.0 mL of 0.150 M NaOH is added to 605 mL of 0.200 M weak...

Chemistry
Q

A newspaper story claims that more houses are purchased by singles now than singles 5...

Statistics
Q

A landmark case establishing that auditors should be held liable to third parties not...

Accounting
Q

PA 6. LO 2.2 Olivia's Apple Orchard had the following transactions during the month of...

Accounting
Q

Saxbury Corporation's relevant range of activity is 3,000 units to 7,000 units. When it produces...

Accounting
Q

Indique la cantidad de tenencias de efectivo que Apple inform en su informe anual de...

Accounting
Q

Koontz Company manufactures a number of products. The standards relating to one of these products...

Accounting
Q

The partnership of Frick, Wilson, and Clarke has elected to cease all operations and liquidate...

Accounting
Q

To ensure that the IRS will not assess a deficiency against a partner of a...

Accounting
Q

Use the model in Spreadsheet C10 to solve this problem. Golden State Bakers, Inc. (GSB)...

Finance
Q

QUESTION 4 If you were the CEO of a compary and was promised a $10M...

Finance
Q

Question 1:Rare Metals Inc. sells a rare metal found only in underdeveloped countries overseas. As...

Finance