Material is added at the beginning of the process.

Beginning Units in process

$30\%$

$20\mathrm{.}00$

Transferred to finished goods

$625\mathrm{.}00$

Ending units in process

$60\%$

$40\mathrm{.}00$

Direct material used

$1,710\mathrm{.}00$

$?????$

Material purchased during month

$2,200\mathrm{.}00$

$$$$8,250\mathrm{.}00$

Direct labor used

$1,132\mathrm{.}00$

$$$$11,321\mathrm{.}00$

Variable overhead

$$$$6,839\mathrm{.}00$

Fixed overhead

$$$$8,796\mathrm{.}00$

Use FIFO method for the process cost report

Company uses standard cost accounting.

Process Cost Report

Units to account for

$$

$$

$$

$$

Beginning units in process

$$

$$Ending units in process

$$

$$

Units started

$$

$$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

$$

$$

$$

$$

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

$$

$$

$$

$$

Beginning work in process

$$

$$

$$

$$

DM

$$

$$

$$

$$

DL

$$

$$

$$

$$

FO

$$

$$

$$

$$

Units started and completed

$$

$$

$$

$$

Costs transferred to finished goods

$$

$$

$$

$$

Ending work in process

$$

$$

$$

$$

DM

$$

$$

$$

$$

DL

$$

$$

$$

$$

FO

$$

$$

$$

$$

Cost for ending work in process

$$

$$

$$

$$

Costs accounted for

$$

$$

$$

$$

Journal entry to transfer to finished goods

$$

$$

$$

$$

$$

$$

ed journal entries to record the variances. $($Due in Module $8)$