In August, One of the Processing Departments at Marchese Corporation

question 72

Essay

In August, one of the processing departments at Marchese Corporation had beginning work in process inventory of $34,000 and ending work in process inventory of $35,000. During the month, $401,000 of costs were added to production. The company uses the FIFO method in its process costing system.
Required:
Construct a cost reconciliation report for the department for the month of August.