KGPA Glass Company manufactures a highly specialized glass that is used extensively in the IT...
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KGPA Glass Company manufactures a highly specialized glass that is used extensively in the IT industry. The following data have been complied for the month of July. Conversion activity occurs uniformly throughout the production process. Work in Process, July 1 Direct materials: 70% complete Conversion: 40% complete Units started during July Units completed during July Work in Process, July 30 Direct materials: 90% complete Conversion: 60% complete Costs incurred during July Conversion costs Direct material Direct labor Applied overhead 50,000 units RM 120,000 RM 34,400 200,000 units 190,000 units RM 492,500 RM 87,450 manufacturing RM 262,350 Required: Prepared the production cost report using the FIFO method
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