Process Costing- increased units, FIFO method Answer in good form 25 26 Illustrative Problem-Cost of Production Report

Process Costing- increased units, FIFO method Answer in good form

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25 26 Illustrative Problem-Cost of Production Report using Treatment by Neglect Dept 1-100% of materials are added at the beginning. Inspection for lost units is done at the end of 27 28 29 30 31 Units tramsferred out Ending units in process, Mar 31, conversion costs 60% Units lost in process-Normal 32 abnormal processing. Conversion costs are evenly applied throughout. Data for the month of March: Beginning units in process, Mar 1, conversion costs 40% 16,000 38,000 14,500 1,000 500 33 Cost Data: 34 Work in process, March 1: Materials 10,740 35 Labot 6,279 36 Overhead 3,931 37 Cost added in March: Materials 21,660 38 Labot 12,760 39 Overhead 8,360 25 26 Illustrative Problem-Cost of Production Report using Treatment by Neglect Dept 1-100% of materials are added at the beginning. Inspection for lost units is done at the end of 27 28 29 30 31 Units tramsferred out Ending units in process, Mar 31, conversion costs 60% Units lost in process-Normal 32 abnormal processing. Conversion costs are evenly applied throughout. Data for the month of March: Beginning units in process, Mar 1, conversion costs 40% 16,000 38,000 14,500 1,000 500 33 Cost Data: 34 Work in process, March 1: Materials 10,740 35 Labot 6,279 36 Overhead 3,931 37 Cost added in March: Materials 21,660 38 Labot 12,760 39 Overhead 8,360