Suburbia Company manufactures a product through a continuous single-step process. All materials are added at the beginning of processing. Production and cost data for the company for February 2016 are as follows:
Production data:
In process, beginning of month (20% converted) 1,000 units
Started during February 5,000 units
Completed and transferred to finished goods 4,500 units
In process, end of month (60% converted) 1,500 units Manufacturing costs:
Required:
Prepare a cost of production report for February 2016. Use FIFO process costing.

Question

Suburbia Company manufactures a product through a continuous single-step process. All materials are added at the beginning of processing. Production and cost data for the company for February 2016 are as follows:
Production data:
In process, beginning of month (20% converted) 1,000 units
Started during February 5,000 units
Completed and transferred to finished goods 4,500 units
In process, end of month (60% converted) 1,500 units Manufacturing costs:
   Required:
Prepare a cost of production report for February 2016. Use FIFO process costing.

Quizplus · Accepted Answer

The Answer of Suburbia Company manufactures a product through a continuous single-step process. All materials are added at the beginning of processing. Production and cost data for the company for February 2016 are as follows:
Production data:
In process, beginning of month (20% converted) 1,000 units
Started during February 5,000 units
Completed and transferred to finished goods 4,500 units
In process, end of month (60% converted) 1,500 units Manufacturing costs:
   Required:
Prepare a cost of production report for February 2016. Use FIFO process costing.

Suburbia Company Manufactures a Product Through a Continuous Single-Step Process