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The Stewart Company Had Computed the Flow of Units for Department

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The Stewart Company had computed the flow of units for Department 123 for the month of July as follows:
 Work in process, July 1: 10,000 Started into production during July 39,000 Units to be accounted for 49,000\begin{array}{ll}\text { Work in process, July 1: } & 10,000 \\\text { Started into production during July } & 39,000 \\\text { Units to be accounted for } & 49,000\end{array} Materials are added at the beginning of the process.There were 8,000 units of work in process at July 31.The work in process at July 1 was 70% complete as to direct labour and factory overhead costs,and the work in process at July 31 was 60% complete as to direct labour and factory overhead costs.What was the cost of the goods transferred out and in ending work in process using the FIFO method?
 The Stewart Company had computed the flow of units for Department 123 for the month of July as follows:   \begin{array}{ll} \text { Work in process, July 1: } & 10,000 \\ \text { Started into production during July } & 39,000 \\ \text { Units to be accounted for } & 49,000 \end{array}  Materials are added at the beginning of the process.There were 8,000 units of work in process at July 31.The work in process at July 1 was 70% complete as to direct labour and factory overhead costs,and the work in process at July 31 was 60% complete as to direct labour and factory overhead costs.What was the cost of the goods transferred out and in ending work in process using the FIFO method?

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Definitions:

Sodium Chloride

A chemical compound commonly known as table salt, consisting of sodium and chlorine atoms, used extensively in food preparation and preservation.

Chloride Ion

A negatively charged ion (Cl-) that is an essential electrolyte found in all body fluids, important for maintaining fluid balance and electrical neutrality.

Dissociation

A mental process involving a lack of connection in a person's thoughts, memory, and sense of identity.

Sodium Ion

An essential electrolyte in the body that helps regulate water balance, nerve impulses, and muscle function.

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