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CarltonManufacturingCompanyhasthefollowinginformationavailableforitsprocess costingsystemforthemonthofMayinthefinishingdepartment.Thefinishingdepartmentis thesecondofamultipledepartmentmanufacturingplant.Materialsareaddedattheendof theprocessinfinishing. Work in Process Units Materials $0 Beginning Inventory 100,000 Conversion $30,000 Transferred-in 200,000 Prior department $50,000 Ending Inventory 50,000 Costs added

CarltonManufacturingCompanyhasthefollowinginformationavailableforitsprocess

costingsystemforthemonthofMayinthefinishingdepartment.Thefinishingdepartmentis

thesecondofamultipledepartmentmanufacturingplant.Materialsareaddedattheendof

theprocessinfinishing.

Work in Process Units

Materials $0 Beginning Inventory 100,000

Conversion $30,000 Transferred-in 200,000

Prior department $50,000 Ending Inventory 50,000

Costs added this month

Materials $225,000

Conversion $510,000

Prior department $550,000

Beginninginventoryis30%completeastoconversioncosts;endinginventoryis80%

completeastoconversioncosts.

Required: Prepare the cost of production report using both weighted average and FIFO method

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