The following data pertain to the Fantasia Flour Milling Company for the month of October. Work in

Question:

The following data pertain to the Fantasia Flour Milling Company for the month of October.

Work in process, October 1 (in units)....................................................... ?

Units started during October....................................................................70,000

Total units to account for..........................................................................80,000

Units completed and transferred out during October...............................?

Work in process, October 31 (in units)..................................................... 5,000

Total equivalent units: direct material.......................................................80,000

Total equivalent units: conversion............................................................?

Work in process, October 1: direct material............................................. $112,000

Work in process, October 1: conversion...................................................?

Costs incurred during October: direct material......................................?

Costs incurred during October: conversion..............................................900,000

Work in process, October 1: total cost......................................................142,225

Total costs incurred during October.......................................................... 1,500,000

Total costs to account for.......................................................................... 1,642,225

Cost per equivalent unit: direct material.................................................... 8.90

Cost per equivalent unit: conversion..........................................................?

Total cost per equivalent unit..................................................................... 20.75

Cost of goods completed and transferred out during October..................?

Cost remaining in ending work-in-process inventory: direct material.......?

Cost remaining in ending work-in-process inventory: conversion.............41,475

Total cost of October 31work in process...................................................85,975

Additional Information:

a. Direct material is added at the beginning of the production process, and conversion activity occurs uniformly throughout the process.

b. Fantasia uses weighted-average process costing.

c. The October 1 work in process was 15 percent complete as to conversion.

d. The October 31 work in process was 70 percent complete as to conversion.


Required:

Compute the missing amounts, and prepare the firm's October production report.


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