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The following data were taken from the books of Denver Company which manufactures a single...

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Finance

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The following data were taken from the books of Denver Company which manufactures a single product through a two-department manufacturing process-machining and finishing. In the production process, materials are added to the product in both departments. Normal spoilage occurs in the finishing department, and the spoiled units are not detected until units are completed and inspected. DEPARTMENTS MACHINING FINISHING 20,000 50% 60,000 UNITS BEG INVENTORY Stage of Completion TRANSFERRED IN STARTED IN PRODUCTION TRANSFERRED OUT ENDING INVENTORY Stage of Completion SPOILED (LOST) UNITS 80,000 60,000 20,000 25% 60,000 18,000 70% 2,000 COSTS BEGINNING INVENTORY Direct Materials Conversion Costs Prior Department Costs CURRENT COST Direct Materials Conversion Costs 28,000.00 27,500.00 118,000.00 320,000.00 130,000.00 90,000.00 193,800.00 Requirements: Prepare CPR report for Month of April 2021 using: 1. FIFO METHOD 2. AVERAGE METHOD 3. NORMAL LOST DISCOVERED AT THE BEGINNING OF THE PROCESS PREPARE CPR 3.1 FIFO METHOD 3.2 AVERAGE METHOD

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