Problem5 company manufacturers a standard recliner. During February, the firm's Assembly taed production of 75,000 chairs. During, the month, the firm completed 80,000 chair and transferred them to the Finishing Department. T inventory. There were 15,000 chairs in beginning inventory. A e firm ended the month with 10,000 chairs in ending ll direct materials costs are added at the beginning of the production cycle and conversion aosts are added uniformly throughout the production process. The FIFO method of process costing is used by Rest-a-Lot. Beginning work in process was complete as to conversion costs, while ending work in process was80% mplete as to conversion costs Beginning inventory: Direct materials Conversion costs $24,000 $35,000 Manufacturing costs added during the accounting period: Direct materials Conversion costs $168,000 $278,000 Prepare a complete process costing schedule using FIFO Problem5 company manufacturers a standard recliner. During February, the firm's Assembly taed production of 75,000 chairs. During, the month, the firm completed 80,000 chair and transferred them to the Finishing Department. T inventory. There were 15,000 chairs in beginning inventory. A e firm ended the month with 10,000 chairs in ending ll direct materials costs are added at the beginning of the production cycle and conversion aosts are added uniformly throughout the production process. The FIFO method of process costing is used by Rest-a-Lot. Beginning work in process was complete as to conversion costs, while ending work in process was80% mplete as to conversion costs Beginning inventory: Direct materials Conversion costs $24,000 $35,000 Manufacturing costs added during the accounting period: Direct materials Conversion costs $168,000 $278,000 Prepare a complete process costing schedule using FIFO