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WA & FIFO; cost of production report In a single - process production system, Phunky Phingers produces wool gloves. For November, the company s accounting
WA & FIFO; cost of production report
In a singleprocess production system, Phunky Phingers produces wool gloves. For November, the companys accounting records reflected the following:
Beginning WIP Inventory complete as to material; complete as to
direct labor; complete as to overhead units
Units started during the month units
Ending WIP Inventory complete as to material; complete as to
direct labor; complete as to overhead units
Cost Component November During November
Direct material $ $
Direct labor
Overhead
Part A
Part B
a For November, prepare a cost of production report, assuming that the company uses the weighted average method.
Note: Round the costs per EUP to the nearest two decimal points; use the rounded amounts in subsequent calculations.
Note: Other than costs per EUP, round all amounts to the nearest whole dollar.
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