Jenice Company uses FIFO process costing to account for the costs of its single product. Production begins in the fabrication department, where units of direct materials are molded into various connecting parts. After fabrication is complete, the units are transferred to the assembly department, which adds no material. After assembly is complete, the units are transferred to the packaging department, which packages units for shipment. After the units have been packaged, the final products are transferred to the shipping department. A partially completed production cost report for the month of May in the fabrication department follows:

 

 

JENICE COMPANY
Fabrication Department-Production Cost Report
For the month of May
Quantity Schedule
Units to be accounted for
Work-in-process inventory, May 1						3,000
	Materials		100%	complete
	Conversion		40%	complete
Started into production						?
Total units to be accounted for						?
Units accounted for as follows
Transferred to department Y
	Units from the beginning inventory					?
	Units started and completed this month					?
Work-in-process inventory, May 31						4,000
	Materials		100%	complete
	Conversion		60%	complete
Total units accounted for						?
Equivalent Units and Unit Costs					Materials	Conversion		Total
Cost added during May					$172,500	$224,900		?
Equivalent Units					?	?		?
Unit Cost					?	?		?
Cost reconciliation
Cost to be accounted for
		?
Cost accounted for as follows:
		?

The cost incurred in the fabrication department’s work-in-process inventory at May 1 is $13,800. The assembly department’s production cost report for the month of May shows that the number of transferred-in units is 68,000.

 

Cost incurred to work-in-process inventory at May 1						$13,800
Transferred in units						68,000
Transferred in units cost						$393,400

Required

1. Fill in the missing amounts in the quantity schedule and complete the equivalent units and costs.

2. Complete the cost assignment part of the production cost report.