ERIC Industries manufactures dribbits in a single process. It adds direct materials at the beginning of processing. ERIC’s cost and production information for the months of July and August is as follows:

Cost Information ae eee ei a eee July August Costs in beginning inventory Direct materials $ 41,500 $ te Conversion 10,430 te Costs added during month Direct materials 77,300 87,500 Conversion 24,850 32,880 Total $154,080 $ i

*To be computed Production Information (physical units)

July August Beginning inventory 500 300 Added during the month 600 800 Total 1,100 1,100 Completed and transferred 800 900 Ending inventory July (60% processed) 300 August (30% processed) 200 Total 1,100 1,100 Required: (1) Prepare the schedules that ERIC would include on its process cost sheet to assign the total costs accumulated in the goods-in-process inventory at the end of July to the completed and unfinished units.

(2) Repeat (1) for August. TLK=2