Jordana Woolens is a manufacturer of wool cloth. The informationfor March is as follows:
Beginning work in process | 10,000 units |
Units started | 20,000 units |
Units completed | 25,000 units |
? | ? |
Beginning work-in-process direct materials | $ 6,000 |
Beginning work-in-process conversion | $ 2,600 |
Direct materials added during month | $30,000 |
Direct manufacturing labor during month | $12,000 |
Factory overhead | $ 5,000 |
Beginning work in process was 50% complete for conversion costand 100% complete for DM. All conversion costs are incurred evenlythroughout the process. Ending work in process was 60% complete forConversion cost and 100% complete for DM.
Required: Prepare a production cost worksheet using the FIFOmethod.