Name Managerial Accounting Assignment 3-3 FIFO Cost Method for Process Costing This assignment is worth 20 points, and will be due on Friday, April 3, 2020. Spring Manufacturing Company had the following costs related to production for the month of April: $ Cost Area Materials Labor Factory Overhead WIP 4/1/20 37,000 43,200 17.100 Current Costs $ 479,600 743.900 363.300 The beginning work in process consisted of 10,000 units, which were 60% complete as to materials and 45% complete as to labor and factory overhead. 75.000 units were completed and transferred to finished goods during the month. At the end of April, work in process consisted of 12.000 units, which were 75% complete as to materials and 50% complete as to labor and factory overhead. Instructions: Prepare a Cost of Production Summary, assuming that Spring uses a FIFO cost flow assumption in valuing its work in process inventory