Question: Refer to the information in Exercise 6.36. Beginning WIP (30% complete): Direct material ..... $25,000 Conversion costs ..... 3,000 Total ......... $28,000 Units started during

Refer to the information in Exercise 6.36.
Beginning WIP (30% complete):
Direct material ..... $25,000
Conversion costs ..... 3,000
Total ......... $28,000

Units started during March ........... 80,000 units
Units completed and transferred out during March ... 88,000 units
Ending WIP inventory (50% complete) ...... 12,000 units
Direct material cost added during March ........ $220,000
Conversion costs added during March ........ $74,000

REQUIRED
Prepare a process cost report using the FIFO method.

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