Acct344-All materials are added at the beginning of processing. Production and cost data for the…
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.
Production Data
Units
In process, beginning of month (20% converted)
2,000
Started during current month
8,000
Completed and transferred to finished goods
5,500
In process, end of month (60% converted)
2,500
Manufacturing Costs
Work in process, beginning
Materials
15,000
Conversion
6,450
21,450
Production Costs Added
Materials
54,000
Direct labor cost
105,000
Factory overhead cost
42,840
Required
Prepare a cost of production report for current month. Use FIFO process costing.
