Piroddi Brakes has three departments. Its first department (the Processing Department) shows the following data for...

Transcribed Image Text:

Piroddi Brakes has three departments. Its first department (the Processing Department) shows the following data for the month of May: Work in process, beginning: Units in process Stage of completion with respect to materials Stage of completion with respect to conversion 8,000 80% 35% Costs in the beginning inventory: Materials cost Labour cost Overhead cost $110,500 $33,000 $26,000 Units started into production during the month 94,000 Units completed and transferred out 92,000 Costs added to production during the month: Materials cost $964,920 Labour cost $333,200 Overhead cost $190,400 Work in process, ending: Required: Units in process Stage of completion with respect to materials Stage of completion with respect to conversion Using the FIFO method, prepare a production cost report for the company. ??? 90% 60% Piroddi Brakes has three departments. Its first department (the Processing Department) shows the following data for the month of May: Work in process, beginning: Units in process Stage of completion with respect to materials Stage of completion with respect to conversion 8,000 80% 35% Costs in the beginning inventory: Materials cost Labour cost Overhead cost $110,500 $33,000 $26,000 Units started into production during the month 94,000 Units completed and transferred out 92,000 Costs added to production during the month: Materials cost $964,920 Labour cost $333,200 Overhead cost $190,400 Work in process, ending: Required: Units in process Stage of completion with respect to materials Stage of completion with respect to conversion Using the FIFO method, prepare a production cost report for the company. ??? 90% 60%

Answer rating: 100% (QA)

Solution To prepare a production cost report for Prirodi Brakes using the FIFO method we need to follow the following steps 1 Calculate the cost of un... View the full answer