Toy truck corporation produces childrens toy trucks using a

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Reference no: EM13590802

Toy Truck Corporation produces children's toy trucks using a continious production process. In November, the beginning work in process inventory was 420 units, which were 50 percent complete; the ending balance was 400 units, which were 70 percent complete.

During November, 15,000 units were started into production. The Work in Process Inventory account had a beginning balance of $937 for direct materials costs and $370 for conversion costs. In the course of the month, $35,300 of direct materials were added to the process, and $31,689 of conversion costs were assigned. Using the FIFO costing method, prepare a process cost report that computes the equivalent units for November, the product unit cost for toyts, and the ending balance in the Work in Process Inventory account.

Reference no: EM13590802

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