Material is added at the beginning of the process Beginning Units in process Transferred to finished goods Ending units in process

$\backslash$table$[[$Beginning work in process,,,,$],[$DM$,,,,],[$DL$,,,,],[$FO$,,,,],[$Units started and completed,,,,$],[\backslash$table$[[$Costs transferred to finished$],[$goods$]],,,,],[$Ending work in process,,,,$],[$DM$,,,,],[$DL$,,,,],[$FO$,,,,],[$Cost for ending work in process,,,,$],[$Costs accounted for,,,,$]]$

Use FIFO method for the process cost report Company uses standard cost accounting.

$\backslash$table$[[$Process Cost Report$],[$Units to account for,,,,,$],[$Beginning units in process,I,$\backslash$table$[[$Ending units in$],[$process$]],,,],[$Units started,,$\backslash$table$[[$Units transferred$],[$out$]],,,],[$Units to account for,,Units accounted for,,,$],[,,,,,],[$Equivalent units,DM$,$DL$,$FO$,,],[$Units transferred out,,,,,$],[$Beginning units in process,,,,,$],[$Units completed and transferred,,,,,$],[\backslash$table$[[$Amount needed to complete$],[$beginning units in process$]],,,,,],[$Ending units in process,,,,,$],[$Equivalent units,,,,,$],[,,,,,],[$Cost to account for,,,,,$],[$Direct material,,,,,$],[$Direct labor,,,,,$],[$Factory overhead,,,,,$],[$Total costs to account for,,,,,$],[,,,,,],[$Costs accounted for,,,,,$],[$Transferred to finished goods,,,,,$]]$

Journal entry to transfer to finished goods