Question: Daosta Incorporated uses the FIFO method in its process costing system. The following data concern the operations of the companys first processing department for a

Daosta Incorporated uses the FIFO method in its process costing system. The following data concern the operations of the companys first processing department for a recent month. Work in process, beginning: Units in process 300 Percent complete with respect to materials 40% Percent complete with respect to conversion 20% Costs in the beginning inventory: Materials cost $ 605 Conversion cost $ 2,153 Units started into production during the month 15,000 Units completed and transferred out 14,600 Costs added to production during the month: Materials cost $ 43,007 Conversion cost $ 403,519 Work in process, ending: Units in process 700 Percent complete with respect to materials 50% Percent complete with respect to conversion 50%

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