Comprehensive Problem (Algo) LO 12-1, 12-2, 12-3, 12-4

During Year 3, Anywhere, Inc. (AI) incurred the following product costs.

Raw materials	$	98,000
Labor		122,802
Overhead		76,000

The Year 2 ending balance in the Work in Process (WIP) account was $44,000. Accordingly, this is the beginning WIP balance for Year 3. There were 105 units of product in beginning WIP inventory. AI started 2,140 units of product during Year 3. Ending WIP inventory consisted of 80 units that were 60 percent complete. Required Prepare a cost of production report by filling in the cells that are left blank.

So Required Prepare a cost of production report by filling in the cells that are left blank. Equivalent Unit Computations Units Equivalent Units Complete 105 2,140 Beginning inventory Units started Total units available for completion Units in ending inventory Units complete Total equivalent units % (80) 2,165 100 % 2.213 Cost per Equivalent Unit Cost Units Cost per Unit $ Beginning inventory Raw materials 44,000 Labor Overhead Total product cost 76,000 2,213 = Allocation of Product Cost Cost transferred to finished goods Costin ending inventory Total product cost $ 340.802 Prey 16 of