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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 single-process production system, Phunky Phingers produces wool gloves. For November, the companys accounting records reflected the following:
Beginning WIP Inventory (100% complete as to material; 30% complete as to
direct labor; 60% complete as to overhead)24,000 units
Units started during the month 180,000 units
Ending WIP Inventory (100% complete as to material; 40% complete as to
direct labor; 80% complete as to overhead)40,000 units
Cost Component November 1 During November
Direct material $26,040 $180,000
Direct labor 3,81691,584
Overhead 9,272141,648
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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