Pantanal, Inc., produces car seats at a local facility. To learn more,
It uses an FIFO process to cost it.
System for costing. There are three main departments in the factory.
Assembling and finishing. Here are some details about
Start work-in-process inventory at the Assembling Department
August 1, 2008
|Prices||Grade of Completion|
|In-progress inventory (2,000 units)|
|Molding is transferred in||$||98,000||100||%|
|Direct materials costs||163,200||60|
|August 1: Work-inprocess Balance||$||325,200|
97,000 units from Molding were received during August
The Department was purchased at $1,901,200. It began in Assembling. Department at a cost of $1,901,200 and started in Assembling.
Other costs incurred by the Assembling Department in August were $999,670
|Direct materials costs||$||709,920|
|Costs for August total||$||999,670|
16,000 units were still in stock as of the August 31st.
were completed to 80 percent with direct materials, and 50% for 50
Conversion is completed at a percent
Calculate the August cost of goods and calculate the August cost
Inventory of the work-in-progress ending inventories (Do
Not to round intermediate calculations.)
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