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Needed 1.A production report for the pounding department using FIFO. 2.Journal entry to show the costs flowing from the pounding department to the mixing department.
Needed
1.A production report for the pounding department using FIFO.
2.Journal entry to show the costs flowing from the pounding department to the mixing department.
------ DATA for the pounding department: Physical Units 2,000 Direct Conversion Materials Costs $3.920 $3,850 100% 80% Total Costs $7,770 units Beginning work-in-process Degree of Completion of Beginning Work in process Started During March Completed and transferred out during March Ending Work In process Inventory Degree of Completed of ending work in process Total costs Added during March 12.000 10.000 ???? units units units 100% $20,160 45% $5,000 $25.1601 You may find it helpful to compute the following units and percentage so you can reference this information as data to complete my production reports. You are more than welcome to set up your own Data information on this DATA worksheet to reference on your production reports. I set this up when I developed the 2 production reports, so I know you need this information, too. Calculate the Units started and completed and the ending work-in-process for the pounding department Units started and completed Ending Work in process Units Units Determine the percentage of materials and conversion costs used(added) in the current period (March) for the pounding department's beginning, units started and completed, and ending work-in-process. Materials Conversion costs Beginning work in process Units started and completed Ending work-in-processStep by Step Solution
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