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Q3. [40%) Tamtam Company started its January production with $98,260. Of this amount, $31.400 was the cost of direct materials (DRM), and $66,860 was for

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Q3. [40%) Tamtam Company started its January production with $98,260. Of this amount, $31.400 was the cost of direct materials (DRM), and $66,860 was for conversion costs (CC). The company had 8,000 units in the beginning inventory that were 30% complete with respect to both DRM and CC. During January, 17,000 units were completed and transferred out (CTO), 500 units were spoiled, and 4,500 units remained in the ending inventory (EWIP). Spoiled units were 100% complete with respect to DRM and 50% complete with respect to CC. The units in EWIP were 80% complete with respect to DRM and 40% complete with respect to CC. Added costs during the period amounted to $390,600 for DRM and $504,640 for CC. The Company applies the FIFO method The Company treats spoilage as normal spoilage. Required: Use the aforementioned information to prepare a production table using steps 1 to 4 in case the company a. wants to account for the spoiled units. b. does not want to account for the spoiled units. Q3. [40%) Tamtam Company started its January production with $98,260. Of this amount, $31.400 was the cost of direct materials (DRM), and $66,860 was for conversion costs (CC). The company had 8,000 units in the beginning inventory that were 30% complete with respect to both DRM and CC. During January, 17,000 units were completed and transferred out (CTO), 500 units were spoiled, and 4,500 units remained in the ending inventory (EWIP). Spoiled units were 100% complete with respect to DRM and 50% complete with respect to CC. The units in EWIP were 80% complete with respect to DRM and 40% complete with respect to CC. Added costs during the period amounted to $390,600 for DRM and $504,640 for CC. The Company applies the FIFO method The Company treats spoilage as normal spoilage. Required: Use the aforementioned information to prepare a production table using steps 1 to 4 in case the company a. wants to account for the spoiled units. b. does not want to account for the spoiled units

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