Terminal Industries (TI) produces a product using three departments: Mixing, Processing, and Filtering. New material is added
Question:
Terminal Industries (TI) produces a product using three departments: Mixing, Processing, and Filtering. New material is added only in the Mixing Department. The following information is given for the Processing Department for August. TI uses process costing.
Required
Prepare a production cost report for August using FIFO.
Transcribed Image Text:
WIP Inventory-Processing Department: August 1 Quantity ( 60% complete). Transferred-in costs (from Mixing Department). Conversion costs (Processing Department).. Total WIP cost: August 1 Current production and costs (August) Units started..... Current costs Transferred-in costs (from Mixing Department). Conversion costs (Processing Department). Total current cost: August ..... WIP Inventory-Processing Department: August 31 Quantity (20% complete)....... Transferred-in costs (from Mixing Department). Conversion costs (Processing Department). Total WIP cost: August 31.... 28,000 units $33,8:90 13,612 $47,502 75,000 units $82,500 53,060 $135,560 13,000 units ?? ?? ??
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