cost of production fifo

Project Description:

the roberto company uses the fifo cost method and adds all materials, labor, and factory overhead evenly to production. a record of the factory operations for october follows:

production summary units
work in process, may 1, 70% complete 10,000
started into production during may 39,000
finished and transferred to next process 41,000
work in process, may 31, 60% complete 8,000
cost summary
work in process, may 1 $30,800
materials 97,000
labor 34,920
factory overhead 32,980
prepare a cost of production summary for the month of may.
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Project Stats:

Price Type: Negotiable

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