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)	9,600	units
Units started during the month	72,000	units
Ending WIP Inventory (100% complete as to material; 40% complete as to
direct labor; 80% complete as to overhead)	16,000	units

Cost Component	November 1	During November
Direct material	$10,416	$72,000
Direct labor	1,526	36,634
Overhead	3,709	56,659

• 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.

Phunky Phingers
Cost of Production Report (WA Method)
For the Month of November
Production Data:	Units
Beginning WIP inventory
Units started
Units to account for
	Units	Material	Labor	Overhead
Beginning WIP Inventory
Started & completed
Ending WIP inventory (100%, 40%, 80%)
Units accounted for
Cost Data:	Total	Material	Labor	Overhead
Beginning WIP Inventory
Current costs
Cost to account for
Divided by EUP
Cost per EUP
Cost Assignment
Transferred out
Ending inventory:
Material
Direct labor
Overhead
Total cost accounted for

b. For November, prepare a cost of production report, assuming that the company uses the FIFO 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.

Phunky Phingers
Cost of Production Report (FIFO Method)
For the Month of November
Production Data:	Units
Beginning WIP inventory
Units started
Units to account for
	Units	Material	Labor	Overhead
Beginning WIP Inventory (0%, 70%, 40%)
Started & completed
Ending WIP inventory (100%, 40%, 80%)
Units accounted for
Cost Data:	Total	Material	Labor	Overhead
Beginning WIP Inventory
Current costs
Cost to account for
Divided by EUP
Cost per EUP
Cost Assignment
Transferred out:
Beginning WIP Inventory
Complete beginning WIP
DL
OH
Started & completed
Ending WIP Inventory:
Material
Direct labor
Overhead
Total cost accounted for