Reutter, Inc. makes a single product and uses the FIFO method of process costing.The company's...
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Reutter, Inc. makes a single product and uses the FIFO method of process costing.The company's product goes through two processing departments - Etching and Wiring - which completes the process.This problem focuses on the Writing department which received the 'etched' products and then completes them by adding appropriate writing.In Wiring, the direct materials are placed into production when the process is 35% complete.Conversion costs are incurred evenly throughout the process.The relevant information for April is below:
Beginning work in process inventory
10,000 items, 30% complete to conversion
Units startedin April
170,000 units
Ending work in process inventory
20,000 items,40% complete to conversion
Transferred-InMaterialsConversion
Cost of beginning work in process
$7,000 $ 0$4,900
Current costs in April
$187,000$153,000$ 244,200
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