FIFO Method, Single Department Analysis, One Cost Category Hatch Company produces a product that passes through three processes: Fabrication, Assembly, and Finishing. All manufacturing costs are added uniformly for all processes. The following information was obtained for the Fabrication Department for June: a. Work in process, June 1, had 90,000 units (40 percent completed) and the following costs: Direct materials $72,720 Direct labor 107,000 Overhead 36,000 b. During the month of June, 180,000 units were completed and transferred to the Assembly Department, and the following costs were added to production: Direct materials $195,000 Direct labor 144,000 Overhead 165,000 c. On June 30, there were 45,000 partially completed units in process. These units were 80 percent complete. Required: Prepare a cost of production report for the Fabrication Department for June using the FIFO method of costing. Round the cost per equivalent unit to the nearest cent. Required: Prepare a cost of production report for the Fabrication Department for June using the FIFO method of costing Hatch Company Fabrication Department Production Report for June Unit Information Units to account for: Units, beginning work in 90,000 Units starte 135.000 225,000 Equivalent Units 90,000 Total units to account for Units accounted for: Physical Flow Started and comp 90,000 From beginning work in 90,000 Units, ending work in 1 45,000 Total units accounted for 225,000 Cost Information Costs to account for: 54,000 36,000 180.000 Manufacturing Costs 504,000 1820 504,000 Costs, beginning work in Costs, ending work in Total costs to account for Cost per equivalent unit Costs accounted for: Units transferred out: Units, beginning work in process: Prior-period costs Current costs to finish units Units started and completed Total cost transferred out Units, ending work in process Total costs accounted for