Glass Company manufactures a product through a continuous single-step process.
All materials are added at the beginning of processing. Production and cost data for the company for the current month are as follows.
In process, beginning of month (20% converted)
Started during current month
Completed and transferred to finished goods
In process, end of month (60% converted)
Work in process, beginning
Production Costs Added
Direct labor cost
Factory overhead cost
Prepare a cost of production report for current month. Use FIFO process costing.