Stevens Company's inventory on March 1 and the costs charged to Work in Process-Department B during March are as follows: During March, all direct materials were transferred from Department A, the units in process at March 1 were completed, and of the 55,000 units entering the department, all were completed except 6,000 units which were 70% completed. Inventories are costed by the first-in, first-out method.
Prepare a cost of production report for March. Round unit cost data to four decimal places and total cost to nearest cent.

Question

Stevens Company's inventory on March 1 and the costs charged to Work in Process-Department B during March are as follows:  During March, all direct materials were transferred from Department A, the units in process at March 1 were completed, and of the 55,000 units entering the department, all were completed except 6,000 units which were 70% completed. Inventories are costed by the first-in, first-out method.
Prepare a cost of production report for March. Round unit cost data to four decimal places and total cost to nearest cent.

Quizplus · Accepted Answer

The Answer of Stevens Company's inventory on March 1 and the costs charged to Work in Process-Department B during March are as follows:  During March, all direct materials were transferred from Department A, the units in process at March 1 were completed, and of the 55,000 units entering the department, all were completed except 6,000 units which were 70% completed. Inventories are costed by the first-in, first-out method.
Prepare a cost of production report for March. Round unit cost data to four decimal places and total cost to nearest cent.

Stevens Company's Inventory on March 1 and the Costs Charged