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Maynard Inc. manufactures desks. The following data was given for production in February: Phantom Enterprises adds materials to production at the beginning of the process

Maynard Inc. manufactures desks. The following data was given for production in February:

Phantom Enterprises adds materials to production at the beginning of the process in the Production Department. It uses a single-step process. Data on material for this department for July 2018 are as follows:

Production data (units):
In process, beginning of July 10,000
Started during July 60,000
Completed and transferred out during July 55,000
Manufacturing cost:
Work in process, beginning $ 39,000
Materials used in July $186,000

The company uses the FIFO inventory method. The materials cost in Work in Process on July 31 is

a.$46,500.

b.$39,000.

c.$37,500.

d.$31,000.

If a total of $11,050 in production costs were incurred, how much cost is assigned to the units completed?

a.$11,050

b.$3.250

c.$8,287.50

d.$9,750

e.None of these choices are correct.

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