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												Direct Materials		Conversion
Beginning work in proces						Units						Percent Complete		Percent Complete
Direct materials	$ 18,550
Conversion	2,280		$ 20,830	Beginning work in process inventory		2,000						100%		20%
				Units started this period		32,500
Costs added this period				Completed and transferred out		32,000
Direct materials	357,500			Ending work in process inventory		2,500						100%		60%
Conversion	188,670		546,170
Total costs to account for			$ 567,000
										UNITS
											Whole Units		Equivalent Units
													Direct Materials	Conversion
										Units to account for:
										Beginning work in process	2000
										Units started this period	32500
										Total units to account for	34500
										Units to be assigned costs:
										Beginning work in process	2000		0	1600
										Units started and completed	30000		30000	30000
										Ending work in process	2500		2500	1500
										Total units accounted for	34500		32500	33100
													Costs
													Direct Materials	Converstion	Total
										COSTS
										Cost per equivalend unit:
										Costs added this period	$ 357,500		$ 188,670	$ 546,170
										Equivalent units of production	32500		33100
										Cost per equivalent unit of production	$ 11.00		$ 5.70
										Costs assigned to production:
										Beginning work in process	$ 18,550		$ 2,280	$ 20,830
										Costs added this period	$ 357,500		$ 188,670	$ 546,170
										Total costs accounted for by the Molding dept.	$ 376,050		$ 190,950	$ 567,000
										Costs allocated to completed and partially
										completed units:
										Beginning work in process	$ 18,500		$ 2,280	$ 20,830
										To complete work in process	$ -		$ 9,120	$ 9,120
										Costs of completed July 1 work in process	$ 18,550		$ 11,400	$ 29,950
										Started and completed in July	$ 330,000		$ 171,000	$ 501,000
										Transferred out in July	$ 348,550		$ 182,400	$ 530,950
										Inventory in process, July 31	$ 2,750		$ 8,550	$ 36,050
										Total costs accounted for	$ 376,050		$ 190,950	$ 567,000
Cost of Production Report- FIFO Method
For Month Ended July 31

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