1. Complete Problem 5- 33 using the FIFO method of process costing.

2. If you did Problem 5- 33, explain any difference between the cost of work completed and transferred out and the cost of ending work in process in the mixing department under the weighted- average method and the FIFO method. Should CBC’s managers choose the weighted- average method or the FIFO method? Explain briefly.

Problem 5-33

Transcribed Image Text:

Physical Unit (Pounds) 2,000 13,400 14,150 1,250 Direct Materials Conversion Costs Work in process, September 1 Started during September 2012 Completed during September 2012 Work in process, September 30 Total costs added during September 2012 $ 4,460 4,175 $37,120 $39,400