Dachuna Inc. uses the FIFO method in its process costing system. The following data concern the operations of the company”s first processing department for a recent month.
|
Work in process, beginning: |
|
|
Units in process |
500 |
|
Stage of completion with respect to materials |
60% |
|
Stage of completion with respect to conversion…………… |
70% |
|
Costs in the beginning inventory: |
|
|
Materials cost |
$1,020 |
|
Conversion cost |
$8,925 |
|
Units started into production during the month |
10,000 |
|
Units completed and transferred out |
9,600 |
|
Costs added to production during the month: |
|
|
Materials cost |
$31,488 |
|
Conversion cost |
$259,548 |
|
Work in process, ending: |
|
|
Units in process |
900 |
|
Stage of completion with respect to materials |
60% |
|
Stage of completion with respect to conversion |
90% |
Required:
Prepare a production report for the department using the FIFO method.