USE FIFO Method. Show all workings. Ignore exhibits, use your own format

Cool Fizzy Ltd's division A produces soft drinks in standard sizes. Set out below is information for the month of January: 4,000 units $6,000 $12,000 8,000 units 8,000 units Work-in-process inventory, 1 January Direct materials: 100% complete Conversion: 50% complete Units started during January Units completed and transferred out during January Work-in-process inventory, 31 January Direct materials: 100% complete Conversion costs: 50% complete Costs incurred during January Direct materials Conversion $12,000 $128,000