Subject: Cost Accounting
Extracted text: 1. Faye Manufacturing uses a process cost system to manufacture Dust Density Sensors for the mining industry. The following information pertains to operations for the month of May 2019: Work in process inventory, May 1 Started in production during May Completed production during May Work in process inventory, May 31 The beginning work in process was 60% complete for materials and 20% complete for conversion costs. The ending inventory was 90% complete for materials and 40% complete for conversion costs. Cost pertaining to the month of Mat are as follows: • The beginning inventory cost are, materials, P54,560; direct labor, P20,320; and factory overhead, P15,240. • Costs incurred during May are materials used, P468,000; direct labor, P182,880; and factory overhead, P391,160. 16,000 units 100,000 92,000 24,000 Using the First-in, first-out (FIFO) method, the equivalent units of production for materials are a. 97,600 units c. 107,200 units d. 108,000 units b. 104,000 units