The Inventory at May 1 and the Costs Charged to Work

question 67

Essay

The inventory at May 1 and the costs charged to Work in Process--Department B during May for Stella Company are as follows:


During May, all direct materials are transferred from Department A, the units in process at May 1 were completed, and of the 55,000 units entering the department, all were completed except 6,000 units which were 70% completed. Inventories are costed by the first-in, first-out method.
Prepare a cost of production report for May. Round unit cost data to four decimal places and total cost to nearest cent.

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