Pix Company has the following production data for March: no beginning work in process, units started and completed 34,000, and ending work in process 3,300 units that are 100% complete for materials and 40% complete for conversion costs. Pix uses the FIFO method to compute equivalent units. If unit materials cost is $7 and unit conversion cost is $15. The total costs to be assigned are $790,900, prepare the cost section of the production cost report for Pix Company using the FIFO approach. COSTS Unit costs Total costs Equivalent units $ PIX COMPANY (Partial) Production Cost Report For the Month Ended March 31 Materials $ Conversion Costs $ Total
Pix Company has the following production data for March: no beginning work in process, units started and completed 34,000, and ending work in process 3,300 units that are 100% complete for materials and 40% complete for conversion costs. Pix uses the FIFO method to compute equivalent units. If unit materials cost is $7 and unit conversion cost is $15. The total costs to be assigned are $790,900, prepare the cost section of the production cost report for Pix Company using the FIFO approach. COSTS Unit costs Total costs Equivalent units $ PIX COMPANY (Partial) Production Cost Report For the Month Ended March 31 Materials $ Conversion Costs $ Total
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Transcribed Image Text:Pix Company has the following production data for March: no beginning work in process, units started and
completed 34,000, and ending work in process 3,300 units that are 100% complete for materials and 40% complete
for conversion costs. Pix uses the FIFO method to compute equivalent units. If unit materials cost is $7 and unit
conversion cost is $15. The total costs to be assigned are $790,900, prepare the cost section of the production cost
report for Pix Company using the FIFO approach.
COSTS
Unit costs
Total costs
Equivalent units
Unit costs
Costs to be accounted
for
In process, March 1
Started into production
Total costs
Costs accounted for
$
$
PIX COMPANY
(Partial) Production Cost Report
For the Month Ended March 31
Materials
$
$
Conversion
Costs
$
$
$
$
Total
Transcribed Image Text:Transferred out
In process, March 1
Started and
completed
In process, March 31
Materials
Conversion costs
Total costs
LA
$
$
LA
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