That's Refreshing makes sports drinks for active people using the process cost system. Below are the cost and production data from the Mixing Department for July. The beginning inventory on the first of July was 100% complete as to materials and 20% as to conversions costs. Units Materials Costs Conversion Costs Inventory, July 1st. 56,700 $11,230.00 $16,560.00 Placed in production in July 135,000 $34,220.00 $43,616.00 Invetory, July 31st. 65,000 The inventory on July 31st was 100% completed for materials and 33% completed as to conversions costs. Prepare a production report using the FIFO Method. (Round your answers to two decimal places when needed and use rounded answers for all future calculations). That's Refreshing Equivalent Units UNITS Whole Units Transferred In Direct Material Conversion Costs Units to account for: Beginning work-in-process Materials Received Total units to account for Units to be assigned costs: Beginning WIP Started and Completed Transferred out Ending work-in-process Total units assigned costs That's Refreshing COSTS Transferred In Direct Materials Conversion Costs Total Costs Costs per Equivalent Unit of Production: Total costs for the month Total Equivalent Units Costs per EUP Costs Assigned to Product: Beginning WIP Cost for the month Total Costs allocated to units: Beginning WIP Cost to complete WIP Started and Completed units Transferred out Ending WIP Total Costs Assigned

Name: That's Refreshing makes sports drinks for active people using the proc
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Description: That's Refreshing makes sports drinks for active people using the process cost system. Below are the cost and production data from the Mixing Department for July. The beginning inventory on the first of July was 100% complete as to materials and 20%

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 3PA: Pant Risers manufactures bands for self-dressing assistive devices for mobility-impaired...

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That's Refreshing makes sports drinks for active people using the process cost system. Below are the cost and production data from the Mixing Department for July. The beginning inventory on the first of July was 100% complete as to materials and 20% as to conversions costs.

	Units	Materials Costs	Conversion Costs
Inventory, July 1st.	56,700	$11,230.00	$16,560.00
Placed in production in July	135,000	$34,220.00	$43,616.00
Invetory, July 31st.	65,000

The inventory on July 31st was 100% completed for materials and 33% completed as to conversions costs.

Prepare a production report using the FIFO Method.

(Round your answers to two decimal places when needed and use rounded answers for all future calculations).

That's Refreshing

	Equivalent Units
UNITS	Whole Units	Transferred In	Direct Material	Conversion Costs
Units to account for:
Beginning work-in-process
Materials Received
Total units to account for
Units to be assigned costs:
Beginning WIP
Started and Completed
Transferred out
Ending work-in-process
Total units assigned costs

That's Refreshing

COSTS	Transferred In	Direct Materials	Conversion Costs	Total Costs
Costs per Equivalent Unit of Production:
Total costs for the month
Total Equivalent Units
Costs per EUP
Costs Assigned to Product:
Beginning WIP
Cost for the month
Total
Costs allocated to units:
Beginning WIP
Cost to complete WIP
Started and Completed units
Transferred out
Ending WIP
Total Costs Assigned

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