FIFO Method, Single Department Analysis, One Cost Category Hatch Company produces a product that passes through three processes: Fabrication, Assembly, and Finishing. All manufacturing costs are added uniformly for all processes. The following information was obtained for the Fabrication Department for June: a. Work in process, June 1, had 90,000 units (40 percent completed) and the following costs: Direct materials Direct labor Overhead $72,740 109,000 35,000 b. During the month of June, 190,000 units were completed and transferred to the Assembly Department, and the following costs were added to production: Direct materials $226,000 Direct labor Overhead 144,000 162,000 c. On June 30, there were 45,000 partially completed units in process. These units were 80 percent complete. Required: Prepare a cost of production report for the Fabrication Department for June using the FIFO method of costing. Round the cost per equivalent unit to the nearest cent. Hatch Company Fabrication Department Production Report for June Unit Information Units to account for: Units, beginning work in process Units started Total units to account for Units accounted for: 90,000 145,000 235,000 Physical Flow Equivalent Units Started and completed 145,000 X 145,000 X From beginning work in process 90,000 54,000 Units, ending work in process 45,000 36,000 Total units accounted for 280,000 X 235,000 X