Pet Products Company Uses an Automated Process to Manufacture Its

question 102

Essay

Pet Products Company uses an automated process to manufacture its pet replica products.For June,the company had the following activities:
$$\begin{array} { | l | r | } \hline \text {Beginning work-in-process inventory } & 4500 \text { items, 1/4 complete } \\\hline \text { Units placed in production } & 15000 \text { units } \\\hline \text { Units completed } & 17500 \text { units } \\\hline \text { Ending work-in-process inventory } & 2000 \text { items, 3/4 complete } \\\hline\\\hline \text { Cost of beginning work in process } & \$ 5250 \\\hline \text { Direct material costs, current } & \$ 16500 \\\hline \text { Conversion costs, current } & \$ 23945 \\\hline\end{array}$$
Direct materials are placed into production at the beginning of the process and conversion costs are incurred evenly throughout the process.
Required:
Prepare a production cost worksheet using the FIFO method.
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