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1.Denpasar Moon Products Company uses an automated process to clean and polish its souvenir items....

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Accounting

1.Denpasar Moon Products Company uses an automated process to clean and polish its souvenir items. For March, the company had the following activities:

Beginning work in process inventory

3,000 items, 1/3 complete

Units placed in production

12,000 units

Units completed

9,000 units

Ending work in process inventory

6,000 items, 1/2 complete

Cost of beginning work in process

$2,500

Direct material costs, current

$9,000

Conversion costs, current

$7,700

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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