PROBLEM 22: Cost of Production Report The following information is available for DVC Corporation for the current month: 120,000 11,250 3,000 1,350 Units Started this month Units Beginning WIP (3/5...

USE FIFO

a. total cost of units transferred - out

b. the amount of Work in Process,end

c. Cost of abnormal loss units

Extracted text: PROBLEM 22: Cost of Production Report The following information is available for DVC Corporation for the current month: 120,000 11,250 3,000 1,350 Units Started this month Units Beginning WIP (3/5 incomplete) Total spoilage Abnormal spoilage Ending WIP (30% to be done) Transferred out Units Units Units 108,750 Units Beginning Work in Process Costs: Material Conversion P 15,600 20,700 Current Costs: P 180,000 525,915 Material Conversion All materials are added at the start of production and the inspection point is at the end of the process. Using the more accurate method representing the physical flow of units. Required: a. Total costs of units transferred-out b. The amount of work in-process, end c. Cost of abnormal loss units