Question: Use the information for Octavia Corp. in Problem E6-58, except assume that the company uses FIFO costing. Prepare, in good form, a FIFO cost of

Use the information for Octavia Corp. in Problem E6-58, except assume that the company uses FIFO costing. Prepare, in good form, a FIFO cost of production report for the Curing Department for May.

Data From Problem E6-58:-

Octavia Corp.'s products are manufactured in three separate departments: Molding, Curing, and Finishing. Materials are introduced in Molding; additional material is added in Curing. The following information is available for the Curing Department for May:

Beginning WIP Inventory (degree of completion: transferred in, 100%; direct material, 80%;

direct labor, 40%; overhead, 30%) ... Transferred in from Molding.... Ending WIP

Prepare, in good form, a weighted average cost of production report for the Curing Department for May.

Beginning WIP Inventory (degree of completion: transferred in, 100%; direct material, 80%; direct labor, 40%; overhead, 30%) ... Transferred in from Molding.... Ending WIP Inventory (degree of completion: transferred in, 100%; direct material, 70%; direct labor, 50%; overhead, 40%) Transferred to Finishing... 8,000 units 40,000 units 4,000 units ? units

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