Balloform Manufacturing Company uses FIFO process costing. At the beginning of August 2011, there were...
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Balloform Manufacturing Company uses FIFO process costing. At the beginning of August 2011, there were 500 units in beginning work-in-process that were 40% complete. In process 1 all direct materials are added at the beginning of the process. The costs for the 500 units include $1,500 for direct materials and $2,000 for direct labor and conversion costs. During August, an additional 2,000 units entered Process Costs incurred during August include $6,200 for direct materials and $19,200 for conversion costs. There were 200 units only 70% complete by the end of the month.
Prepare a production cost report for the month of August.
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