THE NEXT LINE DOWN IS TOTAL ACCOUNTED FOR (SHOWN) AFTER WIP (ABOVE).
I ONLY NEED FIRST PART OF FIFO METHOD TABLE COMPLETED (ALL NUMBERS IN NARRATIVE ABOVE TO DO SO) 
Self-Study Problem 6-2 Weighted-Average Method versus FIFO Method with Transferred-in Cost Reed Company has two departments, a machining department and a finishing department. The following information relates to the finishing department: Work-in-process, November 1, was 28 units, 40% completed, consisting of $190 transferred-in costs, $116 direct materials costs, and $70 conversion costs. Production completed for November totaled 82 units; Work-in-process, November 30, is 8 units, 50% completed. All finishing department direct materials are introduced at the start of the process; conversion costs are incurred uniformly throughout the process. Transferred-in costs from the machining department during November were $1,240; costs of direct materials added were $900; conversion costs incurred were $1,425. Following is the summary data of Reed Company's finishing department: $ $ 190 116 70 376 62 units 82 units Work-in-process, November 1, 28 units: Transferred-in: 100% complete Direct materials: 100% complete Conversion: 40% complete Total costs Units transferred in from machining department during November Units completed during November and transferred out to finished goods inventory Work-in-process, November 30 Transferred-in: 100% complete Direct materials: 100% complete Conversion: 50% complete Costs incurred during November Transferred in Direct materials Conversion Total current costs $ 1,240 900 1,425 $ 3,565 Required: Required: 1. Prepare a production cost report for November using the weighted average method. 2. Prepare a production cost report for November using the FIFO method. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a production cost report for November using the weighted average method. (Round "Cost per unit" to 2 decimal places and other answers to the nearest whole dollar amount.) REED COMPANY Finishing Department Weighted Average Production Cost Report Production Quantity Information Step 1: Analyze Flow of Step 2: Calculate Equivalent Physical Units Units Physical Transferred Direct Conversion Units in Materials Costs Input Work-in-process, November 1 28 0 0 Started this month 62 0 0 0 Total units to account for 90 0 0 0 Output Completed 82 82 82 82 Work-in-process, November 30 8 8 8 4 4 HDO max 90 86 Conversion Total $ 70 $ 376 1,425 1,495 3,565 3,941 $ $ $ $ $ 17.38 $ 43.79 Total accounted for 90 Total work done to date 90 Unit Cost Determination Transferred Direct Step 3: Determine Total Costs to Account for in Materials Work-in-process, November 1 $ 190 $ 116 Current costs 1,240 900 Total costs to account for $ 1,430 $ 1,016 Step 4: Compute Unit Costs Cost per unit 15.89 11.29 Cost Assignment Completed and Step 5: Assign Total Manufacturing Costs Transferred Out Units completed and transferred out 3,654 Ending work-in-process Transferred-in Materials Conversion Total costs accounted for $ 3,654 Ending Work-in- Process Total $ 3,654 $ 127 127 90 90 70 70 $ 287 $ 3,941 Required 1 Required 2 Prepare a production cost report for November using the FIFO method. (Negative amounts should be indicated by a minus sign. Round "Cost per unit" to 2 decimal places and other answers to the nearest whole dollar amount.). Step 2: Calculate Equivalent Units Direct Conversion Materials Costs 0 17 0 REED COMPANY Finishing Department FIFO Production Cost Report Production Quantity Information Step 1: Analyze Flow of Physical Units Physical Transferred Units in Input Work-in-process, November 1 28 0 Started this month 62 0 Total units to account for 90 0 Output Completed 82 54 Work-in-process, November 30 Total accounted for 90 Total work done to date 62 Work-in-process, November 1 0 Total work done this month - FIFO equivalent units 62 Unit Cost Determination Transferred 0 0 0 54 X 54 X 8 8 8 4 62 75 0 17 62 75 Direct
