Samura Company prepares a fertilizer compound by combining a variety of ingredients, blending for a period...

 

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Samura Company prepares a fertilizer compound by combining a variety of ingredients, blending for a period of time, and bagging the final mixture. All materials are added at the beginning of the process. a. On December 1, 2019 beginning work in process is 100% completed in respect to Direct materials, 60% as to conversion costs. Costs associated with the 5,000 partially completed units are as follow: material $4,500; direct labour $600; and overhead $3,000. b. On December 31, work in process consisted of 8,000 units, 100% completed in respect to Direct materials, 40% completed as to conversion costs. c. During the month, 70,000 units were transferred to finished goods. d. Costs added during the month were as follows: Direct materials. Direct labour... Overhead.. ..$75,000 .16,000 ..88,000 Required: Prepare the cost production report for the month of December using the FIFO method. Samura Company prepares a fertilizer compound by combining a variety of ingredients, blending for a period of time, and bagging the final mixture. All materials are added at the beginning of the process. a. On December 1, 2019 beginning work in process is 100% completed in respect to Direct materials, 60% as to conversion costs. Costs associated with the 5,000 partially completed units are as follow: material $4,500; direct labour $600; and overhead $3,000. b. On December 31, work in process consisted of 8,000 units, 100% completed in respect to Direct materials, 40% completed as to conversion costs. c. During the month, 70,000 units were transferred to finished goods. d. Costs added during the month were as follows: Direct materials. Direct labour... Overhead.. ..$75,000 .16,000 ..88,000 Required: Prepare the cost production report for the month of December using the FIFO method.

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Prepare the cost production report using the FIFO method Step 1 Calculate Equivalent Units Equivalen... View the full answer