FIFO Method, Single Department Analysis, One Cost Category

Hatch Company produces a product that passes through three processes: Fabrication, Assembly, and Finishing. All manufacturing costs are added uniformly for all processes. The following information was obtained for the Fabrication Department for June:

1. Work in process, June 1, had 90,000 units (40 percent completed) and the following costs:

   Direct materials	$72,720
   Direct labor	107,000
   Overhead	35,000

2. During the month of June, 180,000 units were completed and transferred to the Assembly Department, and the following costs were added to production:

   Direct materials	$195,000
   Direct labor	144,000
   Overhead	165,000

3. On June 30, there were 45,000 partially completed units in process. These units were 80 percent complete.

Required:

Prepare a cost of production report for the Fabrication Department for June using the FIFO method of costing. Round the cost per equivalent unit to the nearest cent.

Hatch Company
Fabrication Department
Production Report for June
Unit Information
Units to account for:
Units, beginning work in process
Units started
Total units to account for
Units accounted for:
	Physical Flow	Equivalent Units
Started and completed
From beginning work in process
Units, ending work in process
Total units accounted for
Cost Information
Costs to account for:
		Manufacturing Costs
Costs, beginning work in process		$
Costs added by department
Total costs to account for		$
Cost per equivalent unit		$
Costs accounted for:
Units transferred out:
Units, beginning work in process:
Prior-period costs		$
Current costs to finish units
Units started and completed
Total cost transferred out		$
Units, ending work in process
Total costs accounted for		$