COST ACCOUNTING Santa Lucia Corp. produces product A and product B. It has two departments that process all products. During February, the beginning WIP in department 1 was half completed as to...

COST ACCOUNTING

Santa Lucia Corp. produces product A and product B. It has two departments that process all products. During February, the beginning WIP in department 1 was half completed as to conversion, and complete as to direct materials. The beginning inventory included P40,000 for materials and P60,000 for conversion cost. Ending WIP Inventory in department 1 was 40% complete. Direct materials are added at the end of the process. Begnning WIP in department 2 was 20% incomplete as to conversion. Direct materials for department 2 are added near the end of the process. Beginning inventories included P24,000 for transferred-in cost and P28,000 for conversion costs. Ending inventory was 70% incomplete. Additional information about the two department are as follows:

1. Compute for the cost of work-in-process, ending using average method

2. Compute for the unit cost of transferred unit for Department 2 using average method

SOLUTIONS SHOULD BE IN A GOOD ACCOUNTING FORM!