Exercise $8-49($Algo$)$ Prepare a Production Cost Report: FIFO Method $($LO $8-2,4,5)$

Terminal Industries $($TI$)$ produces a product using three departments: Mixing, Processing, and Filtering. New material is added only in the Mixing Department. The following information is given for the Processing Department for August. TI uses process costing.

$\backslash$table$[[$WIP Inventory Processing Department: August $1,],[$Quantity $(6$es complete$),28,000$ units$],[$Transferred$-$in costs $($from Mixing Department$),42,380],[$Conversion costs $($Processing Department$),14,812],[$Total wIP cost: August $1,$$$57,192$