FIFOPRC Process Costing: FIFO Data Section Quantities Beginning inventory in units 10,000 Units started during month 100,000 Transferred to finished goods 95,000 Ending inventory in units 15,000 Beginning inventory % completed 80% dm Ending inventory % completed 60% cc Beginning inventory costs Direct materials cost $1,500 Direct labor cost $1,800 Factory overhead $5,400 Current month costs Direct materials cost $154,500 Direct labor cost $22,700 Factory overhead $68,100 Helena Industries Cost of Production Report May, 20XX Costs to Account For Materials Labor Overhead Total Beginning inventory $1,500 $1,800 $5,400 $8,700 Current month costs 154,500 22,700 68,100 $245,300 Total costs to account for $156,000 $24,500 $73,500 $254,000 Units to Account For Units Beginning inventory 10,000 Started during period 100,000 Total units to account for 110,000 Units Accounted For Units Units completed 110,000 Ending inventory (100,000) Total units accounted for 10,000 Total Equiv. Unit Equivalent Unit Cost Computation Cost Units Cost Materials $300 Conversion 600 Total $900.00 $2.49 Costs Accounted For Transferred to finished goods Beginning inventory Current month production Ending work in process Materials Conversion Total costs accounted for