NOTE: On your assignment submission, provide me with full Cost of Production Reports for this assignment. (You can paste in sections of an Excel spreadsheet into your Word document submission if you want to prepare the report that way.)

T Company makes a product that goes through a single processing department. Direct Materials are added at the start of the process, while Conversion Costs are added evenly during the process. T Company uses the Weighted Average method of Process Costing.

During last month, T Company had 6,750units in beginning Work-in-Process Inventory which were 100% complete for materials and 60% complete for conversion. There were 8,250units started during the period. After finishing the 6,750units in beginning Work-in-Process Inventory, the company started and completed 5,250units. (That means the total units transferred to FinishedGoods for the period was 6,750 + 5,250 = 12,000units.) T Company had 3,000 units in ending Work-in-Process Inventory which were 100% complete for materials and 30% complete for conversion.

The beginning Work-in-Process Inventory had a value of $669,900 (which was $396,000 of materials and $273,900of conversion). During the month, costs added were $1,083,900 (which was $429,000 of materials and $654,900of conversion).

PART #1 REQUIRED: Again, assume that T Company uses the Weighted Average method of Process Costing. (a) Calculate the dollar cost of items transferred out of Work-in-Process Inventory and into Finished Goods Inventory for the month using the Weighted Average method of Process Costing. (b) Calculate the dollar cost of items in Ending Inventory (at the end of the month) using the Weighted Average method of Process Costing.As is says at the top of this page, provide me with a FULL COST OF PRODUCTION REPORT . . . I can find the figures I need from that report.

PART #2REQUIRED: Now assume all of the above EXCEPT that T Company uses the FIFO method of Process Costing. (c) Calculate the dollar cost of items transferred out of Work-in-Process Inventory and into Finished Goods Inventory for the month using the FIFO method of Process Costing. (d) Calculate the dollar cost of items in Ending Inventory (at the end of the month) using the FIFO method of Process Costing.As it says at the top of this page, provide me with a FULL COST OF PRODUCTION REPORT . . . I can find the figures I need from this second report.