. Preparing a cost of production report for two departments.

The Montez Manufacturing Company has three producing departments: the Casting Department, the Assembling Department, and the Painting Department, The FIFO method of pricing the beginning work in process inventory is used. Two departmental Work in Process accounts with data for July 19X5 are given below. The monthly departmental production reports for July 19X5 have been submitted. The reports have been summarized, and the result is shown below and on page 349. The depart- mental supervisors have submitted their cost of production reports for June 19X5. These reports have also been summarized, and the result for the work in process sections is shown on page 349.

Instructions 1. Prepare the equivalent production computations and the cost of production report for the Casting Department for July 19X5.
2. Prepare the equivalent production computations and the cost of production report for the Assembling Department for July 19X5.

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Work in Process-Casting Department DATE EXPLANATION POST. REF. DEBIT CREDIT 19 X5 No. 134 BALANCE DR. : CR. Jul. 1 Balance 31 Materials MR8 10,206 27 2,977 20 Dr. 13,183 47 Dr. 31 Labor J8-9 4.161 62 31 Overhead J8-10 9,345 64 17,345 09 Dr. 26,690 73 Dr. DATE Work in Process-Assembling Department No. 135 POST. EXPLANATION DEBIT CREDIT BALANCE REF. Ce DR. CR. 19 X5 Jul. 1 Balance 3,880 15 Dr. 31 Materials MR8 720 10 4,600 25 Dr. 31 Labor J8-9 6,331 17 10,931 42 Dr. 31 Overhead J8-10 1,152 34 12,083 76 Dr.