Reference no: EM132650145
Process costing FIFO Production cost report: Manufacturer
The following data relate to the coating department of Ronald Plastics Ltd for July.
Unit data
Work in process, 1 July (in units) ?
Units started during July ?
Total units to account for ?
Units completed and transferred out during July 70 000
Work in process, 31 July (in units) 50 000
Total equivalent units: direct material ?
Total equivalent units: conversion ?
New equivalent units accomplished in July: direct material 80 000
New equivalent units accomplished in July: conversion ?
Cost data
Work in process, 1 July: direct material $608 000
Work in process, 1 July: conversion ?
Costs incurred during July: direct material 1 224 000
Costs incurred during July: conversion ?
Work in process, 1 July: total cost ?
Total costs incurred during July 2 986 800
Total costs to account for 3 866 800
Cost per equivalent unit: direct material ?
Cost per equivalent unit: conversion ?
Total cost per equivalent unit ?
Costs of good completed and transferred out during July ?
Cost remaining in ending work in process inventory:
- Direct material ?
- Conversion ?
Total cost of 31 July work in process ?
Additional information:
Direct material is added at the beginning of the production process, and conversion occurs uniformly throughout the process.
Ronald Plastics uses FIFO process costing.
- 1 July work in process was 30 per cent cmplete as to conversion.
- 31 July work in process was 40 per cent cmplete as to conversion
Required
Question 1. Calculate the missing amounts.
Question 2. Prepare the July production report for the coating department.