cost of production report (884) cost per equivalent unit (882) equivalent units of production (878) first-in, first-out (FIFO) method (876) just-in-time processing (JIT) (889) manufacturing cells (890) process cost system (873) process manufacturers (872) whole units (878) yield (889) 046 Southern Aggregate Company manufactures concrete by a series of four processes. All materials are introduced in Crushing. From Crushing, the materials pass through Sifting, Baking, and Mixing, emerging as finished concrete. All inventories are costed by the first-in, first-out method. The balances in the accounts Work in Process Mixing and Finished Goods were as follows on May 1, 2008: Work in Process-Mixing (2,000 units, 1/4 completed) $13,700 Finished Goods (1,800 units at $8.00 a unit) 14.400 The following costs were charged to Work in Process-Mixing during May: Direct materials transferred from Baking: 15,200 units at $6.50 a unit Direct labor 17,200 Factory overhead 11,780 During May, 16,000 units of concrete were completed, and 15,800 units were sold. Inventories on May 31 were as follows: Work in Process Mixing: 1.200 units, 1/2 completed Finished Goods: 2,000 units Instructions 1. Prepare a cost of production report for the Mixing Department 2. Determine the cost of goods sold indicate number of units and unit costs). 3. Determine the finished goods inventory, May 31, 2008. $98,800