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:
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  ​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