(Appendix 6A) FIFO; Production Report

Aztec Inc. produces soft drinks. Mixing is the first department, and its output is measured in gallons. Aztec uses the FIFO method. All manufacturing costs are added uniformly. For July, the mixing department provided the following information:

Production:

Units in process, July 1, 60% complete

20,000 gallons

Units completed and transferred out

137,000 gallons

Units in process, July 31, 55% complete

16,000 gallons

Costs:

Work in process, July 1

$40,000

Costs added during July

388,020

Required:

Prepare a production report.

Aztec Inc. Mixing Department

Production Report

For the Month of July (FIFO Method)

Unit Information

Physical flow:

Units to account for:

Units

Units in beginning WIP

Units started

Total units to account for

Units to account for:

Units

Units started and completed

From beginning WIP

Units in ending WIP

Total units to account for

Equivalent units:

Units

Started and completed

To complete beginning WIP

Units in ending WIP

Total equivalent units

Cost Information

Costs to account for:

Dollars

Costs in beginning WIP

$

Costs added by department

Total costs to account for

$

Cost per equivalent unit

$

Costs accounted for:

Total

Transferred out:

Units started and completed

$

Units in beginning work in process:

From prior period

From current period

Total cost transferred out

$

Goods in ending work in process

Total costs accounted for

$