prepare a production cost report using the fifo method.

Project Description:

calgary corporation produces a liquid solvent in two departments: mixing and finishing. assume that calgary corporation provides you with the following information for finishing operations for november (no new material is added in the finishing department):
wip inventory--finishing
beginning inventory (10,000 units, 30% complete with respect to finishing costs)
transferred-in costs (from mixing)................................. $ 109,600
finishing conversion costs.............................................. 11,006
current work (98,000 units started)
mixing costs................................................................... 862,400
finishing costs............................................................... 398,594
the ending inventory has 14,000 units, which are 60 percent complete with respect to finishing department costs and 100 percent complete for mixing department costs.

required: prepare a production cost report using the fifo method.
Skills Required:
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