In FIFO Costing method (managerial accounting), In the beginning work in process inventory, how do you calculate direct materials and conversion costs for the next month. I have previous month data, but cant figure out how to calculate it.

REQUIRED 1 Using the FIFO costing method, prepare a process cost report for the Mixing Department for January 2. ACCOUNTING CONNECTION Explain how the analysis for the Cooking Depart ment will differ from the analysis for the Mixing Department P7. Doover Company produces organic honey, which it sells to health food stores and restaurants. The company owns thousands of beehives, No direct materials other than oney are used. The production operation is a simple one. Impure honey is added at the Process Costing: One Process and Two Time Periods-FIFO Costing Method LO4 SPREADENEST ferred: $353,36s h pril total cost of goods mdh sisctured beginning of the process and flows through a series of filters, leading to a pure finished 539068 product. Costs of labor and overhead are incurred uniformly throughout the filtering process. Production data for April and May follow April Beginning work in process inventory: 12,400 7,100 $2,480 $5,110 Units (liters) Direct materials Conversion costs Production during the period Units started (liters) Direct materials Conversion costs 288,000 310,000 $100,800 $117,800 $251,550 $277,281 Ending work in process inventory: Units (liters) 12,400 16,900 From calculations at end of April The beginning work in process inventory for April was 80 percent complete for conver- sion costs, and ending work in process inventory was 20 percent complete. The end ing work in process inventory for May was 30 percent complete for conversion costs Assume no loss from spoilage or evaporation. REQUIRED 1. Using the FIFO method, prepare a process cm 2. From the infor