Pet Products Company Uses an Automated Process to Manufacture Its

question 86

Essay

Pet Products Company uses an automated process to manufacture its pet replica products.For June,the company had the following activities:
$$\begin{array} { | l | l | } \hline \text { Beginning work in process inventory } & 4,500 \text { items, } 1 / 4 \text { complete } \\\hline \text { Units placed in production } & 15,000 \text { units } \\\hline \text { Units completed } & 17,500 \text { units } \\\hline \text { Ending work in process inventory } & 2,000 \text { items, } 3 / 4 \text { complete } \\\hline & \\\hline \text { Cost of beginning work in process } & \$ 5,250 \\\hline \text { Direct material costs, current } & \$ 16,500 \\\hline \text { Conversion costs, current } & \$ 23,945 \\\hline\end{array}$$ 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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Definitions:

Marketing Research

The systematic gathering, recording, and analyzing of data about problems relating to the marketing of goods and services.

Marketers

Professionals who are involved in the process of promoting, selling, and distributing a product or service.

Suppliers

Businesses or individuals that provide goods or services to other companies or end consumers.

Purchase Decision-Making

The process through which consumers or organizations decide whether or not to buy a product or service, considering various factors and influences.