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    DiamonHead Posts: 3, Reputation: 1
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    Mar 24, 2013, 06:42 PM
    Oil Company manufactures cooking oils. The company currently uses the FIFO method.
    Oil Company manufactures cooking oils. All direct materials are added at the beginning of the production process. The company currently uses the FIFO method. Data for the month of July are listed below.

    Production data:
    Beginning Work in progress 100,000 units
    Units started during the period 200,000 units
    Completed and transferred out 270,000 units

    Manufacturing cost:
    Beginning Work in progress € 176,000
    Direct materials used 244,000

    What is the amount of goods transferred out during the month assuming no labour or conversion costs?

    I tried calculating following the steps for labor and conversion cost but to no avail. I am really stuck and need some help.

    Thanks

    Daimonhead

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