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FIFO Method, Single Department Analysis One Cost Category Hatch Company produces a product that is through the processes Fabrication Assembly, and Finishing. All manufacturing costs

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FIFO Method, Single Department Analysis One Cost Category Hatch Company produces a product that is through the processes Fabrication Assembly, and Finishing. All manufacturing costs are added uniformly for all processes. The following information was obtained for the Fabrication Department for me a: Work in process, June 1, tad 90.000 units (40 percent completed and the following cost Direct materials $72.720 Direct labor 107.000 Overhead 35,000 b. During the month of one. 100.000 units were completed and transferred to the Assembly Department, and the following the were added to production Direct materials $195.000 Direct labor 144,000 Overhead 105.000 c. on June 10, there were 45.000 partially completed units in proces these units were percent complete Required rares cost of production report for the fabrication or for new theo method of coutine. Round the cost perquivalent it to the nearest cont Hatch Company Falirication Department Production Report for June Unit Information Units to account for Total units to account for Units accounted for Physical fruivalent Unit Total units to account for Units accounted for: Physical Flow Equivalent Units Total units accounted for Cost Information Costs to account for: Manufacturing Costs Total costs to account for Cost per equivalent unit Costs accounted for: Transferred out: Units started and completed Units, beginning work in process: Prior-period costs Current costs to finish units Total cost transferred out Units, ending work in process 1000 o wulu Total costs accounted for 35.000 FIFO Method, Single Department Analysis, Ont Cost Category Hatch Company produces a product that passes through three processes Fabrication, Assembly, and Finishing. All manufacturing costs are added uniformly for all process. 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 contest Direct materials 372,720 Direct labor 107,000 Overhead b. During the month of Juna, 180,000 units were completed and transferred to the Assembly Department, and the following costs were added to production Direct materials $195,000 Direct labor 144,000 Overhead 165,000 con June 30, there were 45.000 partially completed units in process. These units were to percent complete Required Prepare a cost of production report for the fabrication Department for June using the firo method of coutino, sound 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 90.000 135.000 225.000 Total units to account for Units accounted for Physical Flow Equivalent Units 90.000 90.000 Started and completed From beginning work in process 90.000 54.000 Direct labor 107.000 Overhead 35,000 b. During the month of June, 180,000 units were completed and transferred to the Assembly Department, and the following costs were added to production Direct materials $195,000 Direct labor 144,000 Overhead 165,000 On June 30, there were 45.000 partially completed units in process. These units were 30 percent complete Required: Prepare a cost of production report for the Fabrication Department for June using the fro 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 90.000 135.000 225.000 Total units to account for Units accounted for Physical flow Equivalent Units 50.000 90.000 Started and completed from beginning work in proces Unitanding work in process 50.000 50.000 45.000 1.000 Total units accounted for 275.000 100.000 Cost Information Cost to account for 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: 90.000 135,000 225.000 Physical Flow Equivalent Units 90.000 90.000 Started and completed From beginning work in process Units, ending work in process Total units accounted for 90.000 56.000 45.000 36.000 225.000 180,000 Cost Information Costs to account for Manufacturing Costs Costs, beginning work in process Costs added by department 214,740 SO-L000 Total costs to account for 718.740 Cost per equivalent unit Costs accounted for 2.80 Transferred out: Units started and completed Units, beginning work in process: 252.000 Total units to account for Units accounted for: 225.000 Physical Flow Equivalent Units 90.000 90.000 Started and completed From beginning work in process Units, ending work in process Total units accounted for 90,000 54,000 45.000 36,000 225.000 180.000 Cost Information Costs to account for Manufacturing Costs Costs, beginning work in process Costs added by department 214.740 504,000 Total costs to account for 718,740 Cost per equivalent unit Costs accounted for: 2.80 252.000 Transferred out: Units started and completed Units, beginning work in process: Prior period costs Current costs to finish units Total cost transferred out Units, ending work in process 214.740 251.200 617.940 100.800 Total costs accounted for 718.740

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