The following data reports on the September production activities of the Welding department at XYZ Company....

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The following data reports on the September production activities of the Welding department at XYZ Company. Prepare the Cost of Production Report using the FIFO method. Direct Materials Conversion Percent Percent Beginning work in proces Units Complete Complete Direct material $18,550 Conversion 2,280 $ 20,830 Beginning work in process inventory 2,000 100% 20% Units started this period 32,500 Costs added this period Completed and transferred out 32,000 Direct material 357,500 Ending work in process inventory 2,500 100% 60% Conversion 188,670 546,170 Total costs to account for $ 567,000 UNITS Whole Units Equivalent Units Direct Materials Conversion Units to account for: Beginning work in process Units started this period Total units to account for Units to be assigned costs: Beginning work in process Units started and completed Ending work in process Total units accounted for Costs Direct Materials Converstion Total COSTS Cost per equivalend unit: Costs added this period : Equivalent units of production Cost per equivalent unit of production Costs assigned to production: Beginning work in process Costs added this period Total costs accounted for by the Molding dept. Costs allocated to completed and partially completed units: Beginning work in process To complete work in process Costs of completed July 1 work in process Started and oompleted in July Transferred out in July Inventory in process, July 31 Total costs accounted for The following data reports on the September production activities of the Welding department at XYZ Company. Prepare the Cost of Production Report using the FIFO method. Direct Materials Conversion Percent Percent Beginning work in proces Units Complete Complete Direct material $18,550 Conversion 2,280 $ 20,830 Beginning work in process inventory 2,000 100% 20% Units started this period 32,500 Costs added this period Completed and transferred out 32,000 Direct material 357,500 Ending work in process inventory 2,500 100% 60% Conversion 188,670 546,170 Total costs to account for $ 567,000 UNITS Whole Units Equivalent Units Direct Materials Conversion Units to account for: Beginning work in process Units started this period Total units to account for Units to be assigned costs: Beginning work in process Units started and completed Ending work in process Total units accounted for Costs Direct Materials Converstion Total COSTS Cost per equivalend unit: Costs added this period : Equivalent units of production Cost per equivalent unit of production Costs assigned to production: Beginning work in process Costs added this period Total costs accounted for by the Molding dept. Costs allocated to completed and partially completed units: Beginning work in process To complete work in process Costs of completed July 1 work in process Started and oompleted in July Transferred out in July Inventory in process, July 31 Total costs accounted for

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Equivalent Units Physical Direct Conversion UNITS Units Materials Costs Units to account for Beginni... View the full answer