Toy Truck Corporation produces children's toy trucks using a continuous production process. All direct materials are added at the beginning of the process. In November, the beginning work in process inventory was 420 units, which were 50 percent complete; the ending balance was 400 units, which were 70 percent complete.

During November, 15,000 units were started into production. The Work in Process Inventory account had a beginning balance of $937 for direct materials costs and $370 for conversion costs. In the course of the month, $35,300 of direct materials were added to the process, and $31,689 of conversion costs were assigned.

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Using the FIFO costing method, prepare a process cost report that computes the equivalent units for November, the product unit cost for the toys, and the ending balance in the Work in Process Inventory account. Round cost per equivalent unit to the four decimal places. If the amount is zero, enter "0". For the percentages, do not enter the percent sign. For example, 60% would be entered as 60.

Toy Truck Corporation

Process Cost ReportFIFO Costing Method

For the Month Ended November 30

Physical Units:

Beginning inventory
Units started this period
Units to be accounted for
Beginning inventory
Units started and completed
Ending inventory
Units accounted for

Current Equivalent Units

	Direct Materials	Percentage	Conversion Costs	Percentage
Beginning inventory		%		%
Units started and completed		%		%
Ending inventory		%		%
Units accounted for

Cost Information

Costs to account for:

	Total Costs =	Direct Materials +	Conversion Costs
Beginning inventory	$	$	$
Current costs
Total costs	$
Cost per equivalent unit	$	$	$

Cost of goods manufactured and transferred out
From beginning inventory	$
Current costs to complete
Units started and completed this period
Equals cost of goods manufactured	$
Ending inventory
Total cost