Refer to the information for Boxer Corporation in PA3-1.

Required:

Complete all requirements for PA3-1 using the FIFO method.

Data from PA3-1

Boxer Corporation manufactures metal toolboxes. It adds all materials at the beginning of the manufacturing process. The company has provided the following information:

Transcribed Image Text:

Beginning work in process (30% complete) Direct materials Conversion cost Total cost of beginning work in process Number of units started Number of units completed and transferred to finished goods Ending work in process (50% complete) Direct materials cost incurred Conversion cost applied Total cost added 40,000 units $ 40,000 95,000 $135,000 76,000 82,000 $ 90,000 157,000 $247,000