On your assignment submission, you only need to provide me with four numbers with labels "a" and "b" and "c" and "d" to correspond to the requirements. You do NOT have to do full Cost of Production Reports for this assignment BUT you can sketch out Cost of Production Reports on your own separate pieces of paper to help you get the answers for this assignment if that helps you. The Instructor Lecture Video on Process Costing and accompanying Student Handout should help you much in doing this part of the Assignment.

F Company uses the FIFO process costing method. During last month, F Company PROCESS #1 had 8,700 units in beginning Work-in-Process Inventory which were 100% complete for materials and 25% complete for conversion. There were 34,500 units started during the period. After finishing the 8,700 units in beginning Work-in-Process Inventory, PROCESS #1 started and completed 23,300 units. PROCESS #1 had 11,200 units in ending Work-in-Process Inventory which were 100% complete for materials and 70% complete for conversion.

The beginning Work-in-Process Inventory had a value of $101,093.25 During the month, costs added were $803,610.75 (which was $293,250 of materials and $510,360.75 of conversion.

From a Cost of Production Report (that you can do on a separate piece of paper), provide the following four figures: (a) Number of Units to Account For, (b) Dollar Amount of Costs to Account For, (c) Dollar Amount of Total Costs Transferred Out to the next process, and (d) Dollar Amount of Total Cost of Ending Work-in-Process Inventory for PROCESS #1