Estrella Company Tableting Department Production & Cost Data 2017: Note: All direct materials are added at the beginning of the process. Production:     Units in process, October 1, 80% complete    16,000     Units completed and transferred out  250,000     Units in process, October 31, 30% complete        30,000 Costs:   Work in process, October 1:   Transferred-in cost       $800   Direct materials              $300   Conversion costs       $180   Total work in process    $1,280 Current costs:   Transferred-in costs  $13,200   Direct materials        $2,500   Conversion costs    $5,000   Total current costs  $20,700   (a) Using FIFO method, prepare a Process Costing Production Report. (Show all the calculations)

FINANCIAL ACCOUNTING
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ISBN:9781259964947
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Chapter1: Financial Statements And Business Decisions
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Estrella Company Tableting Department Production & Cost Data 2017:
Note: All direct materials are added at the beginning of the process.

Production:

    Units in process, October 1, 80% complete    16,000  

  Units completed and transferred out  250,000

    Units in process, October 31, 30% complete        30,000

Costs:

  Work in process, October 1:

  Transferred-in cost       $800

  Direct materials              $300

  Conversion costs       $180

  Total work in process    $1,280

Current costs:

  Transferred-in costs  $13,200

  Direct materials        $2,500

  Conversion costs    $5,000

  Total current costs  $20,700

 

(a) Using FIFO method, prepare a Process Costing Production Report.

(Show all the calculations)

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