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Pet Products Company Uses an Automated Process to Manufacture Its

Question 118

Essay

Pet Products Company uses an automated process to manufacture its pet replica products.For June,the company had the following activities:
 Beginning work in process inventory 4,500 items, 1/4 complete  Units placed in production 15,000 units  Units completed 17,500 units  Ending work in process inventory 2,000 items, 3/4 complete  Cost of beginning work in process $5,250 Direct material costs, current $16,500 Conversion costs, current $23,945\begin{array} { | l | l | } \hline \text { Beginning work in process inventory } & 4,500 \text { items, } 1 / 4 \text { complete } \\\hline \text { Units placed in production } & 15,000 \text { units } \\\hline \text { Units completed } & 17,500 \text { units } \\\hline \text { Ending work in process inventory } & 2,000 \text { items, } 3 / 4 \text { complete } \\\hline & \\\hline \text { Cost of beginning work in process } & \$ 5,250 \\\hline \text { Direct material costs, current } & \$ 16,500 \\\hline \text { Conversion costs, current } & \$ 23,945 \\\hline\end{array} Direct materials are placed into production at the beginning of the process and conversion costs are incurred evenly throughout the process.
Required:
Prepare a production cost worksheet using the FIFO method.

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