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Please show work when possible. The following data reports on the September production activities of the Welding department at XYZ Company. Prepare the cost of
Please show work when possible.
The following data reports on the September production activities of the Welding department at XYZ Company. Prepare the cost of Production Report using the FIFO method. Direct Materials Conversion Percent Percent Complete Units Complete Beginning work in proces Direct material S 18,550 Conversion 2,280 $ 20,830 100% 20% Beginning work in process inventory Units started this period Completed and transferred out Ending work in process inventory 2,000 32,500 32,000 2,500 100% Costs added this period Direct material 357,500 Conversion 188,670 Total costs to account for 60% 546,170 $567,000 UNITS Whole Units Equivalent Units Direct Materials Conversion Units to account for: Beginning work in process Units started this period Total units to account for Units to be assigned costs: Beginning work in process Units started and completed Ending work in process Total units accounted for Costs Direct Materials Conversion Total COSTS Cost per equivalend unit: Costs added this period Equivalent units of production Cost per equivalent unit of production Costs assigned to production: Beginning work in process Costs added this period Total costs accounted for by the Welding dept. Costs allocated to completed and partially completed units: Beginning work in process To complete work in process Costs of completed Sep1 work in process Started and competed in Sept Transferred out in Sept Inventory in process, Sep 30 Total costs accountediorStep by Step Solution
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