Production report_transfered in cost-FIFO
There are 2department,frames and string department.. 6000 frames transferred to the string depart.. we are using process costinng here.
Beginning WIP, oct is* 1000 unit $17100(prior depart cost)~~~~~ $10600(material cost)~~~~ $10420conversiionn cost
Transferd-in drg oct 6000unit
Fromframes depart
Ending WIP, oct ** 2700unit
Cost added drg oct $53200(prior depart cost)~~~ $12500(material cost)~~~ $16475(conversion cost)
*degree of completion:transfered in cost,100% ;dir material 60% and conversion cost,75%
**degr of complt: tranfered in cost, %, dirct material: 80% and conv cost is 45%
I need to do production report using FIFO METHOD.. I don't no how to work out the transferred in cost fir the ending wip(degree of completion)
IF SOMEONE CAN HELP WITH THIS PLZZZZ?
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