Question
Pix Company has the following production data for March: no beginning work in process, units started and completed 29,000, and ending work in process 3,300
Pix Company has the following production data for March: no beginning work in process, units started and completed 29,000, and ending work in process 3,300 units that are 100% complete for materials and 40% complete for conversion costs. Pix uses the FIFO method to compute equivalent units. If unit materials cost is $7 and unit conversion cost is $10. The total costs to be assigned are $529,300, prepare the cost section of the production cost report for Pix Company using the FIFO approach.
PIX COMPANY (Partial) Production Cost Report For the Month Ended March 31 | ||||||
---|---|---|---|---|---|---|
COSTS | ||||||
Materials | Conversion Costs | Total | ||||
Unit costs | ||||||
Total costs | $enter a dollar amount | $enter a dollar amount | $enter a total of the two previous amounts | |||
Equivalent units | enter a number of units | enter a number of units | ||||
Unit costs | $enter a dollar amount | $enter a dollar amount | $enter a total of the two previous amounts | |||
Costs to be accounted for | ||||||
In process, March 1 | $enter a dollar amount | |||||
Started into production | enter a dollar amount | |||||
Total costs | $enter a total of the two previous amounts | |||||
Costs accounted for | ||||||
Transferred out | ||||||
In process, March 1 | $enter a dollar amount | |||||
Started and completed | enter a dollar amount | |||||
In process, March 31 | ||||||
Materials | $enter a dollar amount | |||||
Conversion costs | enter a dollar amount | enter a subtotal of the two previous amounts | ||||
Total costs |
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