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Author Question: Pet Products Company uses an automated process to manufacture its pet replica products. For June, ... (Read 352 times)

lb_gilbert

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Pet Products Company uses an automated process to manufacture its pet replica products. For June, the company had the following activities: 

Beginning work in process inventory4,500 items, 1/4 complete with regards to conversion costs
Units placed in production15,000 units
Units completed17,500 units
Ending work in process inventory2,000 items, 3/4 complete with regards to conversion costs
Cost of beginning work in process$5,250
Direct material costs, current$16,500
Conversion costs, current$23,945
Direct materials are placed into production at the beginning of the process and conversion costs are incurred evenly throughout the process. 

Required: 
Prepare a production cost worksheet using the FIFO method.


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Marked as best answer by lb_gilbert on Mar 6, 2021

mrphibs

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