Work in progress beginning: Units in process 15,000; stage of completion for materials 40%; Work in progress ending: Units in process 35,000; Stage completion for labor and overhead 30%; units started into production in January 140,000. Beginning work in progress: $28,480 ; Costs added to production: Materials $168,000 ; Labor 112,000 Overhead 74,000.

Instructions:

production cost report using the FIFO method.