FIFO; Production Report

Inca Inc. produces soft drinks. Mixing is the first department and its output is measured in gallons. Inca uses the FIFO method. All manufacturing costs are added uniformly. For July, the mixing department provided the following information:

Production:
Units in process, July 1, 80% complete		24,000 gallons
Units completed and transferred out		141,000 gallons
Units in process, July 31, 75% complete		16,000 gallons
Costs:
Work in process, July 1		$25,700
Costs added during July		301,000

Required:

Prepare a production report. Round all intermediate calculations and per unit amounts to the nearest cent. Round final answers to the nearest dollar or unit (except for per unit amounts). Note: "Total costs to account for" and "Total costs to account for" would be different due to rounding.

Inca Inc. Mixing Department

Production Report

For the Month of July (FIFO Method)

Unit Information

Physical flow:

Units to account for:	Units
Units in beginning WIP
Units started
Total units to account for

Units to account for:

	Units
Units started and completed
From beginning WIP
Units in ending WIP
Total units to account for
Equivalent units:	Units
Started and completed
To complete beginning WIP
Units in ending WIP
Total equivalent units

Cost Information

Costs to account for:

	Dollars
Costs in beginning WIP	$
Costs added by department
Total costs to account for	$
Cost per equivalent unit	$

Costs accounted for:

	Total
Transferred out:
Units started and completed	$
Units in beginning work in process:
From prior period
From current period
Total cost transferred out	$
Goods in ending work in process
Total costs accounted for	$