Managerial Accounting

Free Version

Upgrade subject to access all content


Process costing FIFO Cost Assignment Report Missing Pieces


Below is a partially complete cost assignment report using FIFO process costing method.

What is the cost of ending inventory for this period using the data in this table?

Cost Assignment Report
EU Cost per EU Direct Materials Conversion costs
Costs in beg WIP inventory \$15,800 \$5,000
Costs to complete Beg units:
Conversion costs 6,000 \$1.25 \$7,500
Started and completed:
Direct Materials 396,000 \$1.58 \$625,680
Conversion Costs 396,000 \$x.xx \$xx,xxx
Ending inventory:
Direct Materials 5,400 \$x.xx \$xx,xxx
Conversion Costs 4,320 \$x.xx \$xx,xxx

Enter your response rounded to a whole number without dollar sign or commas. For example, enter 58004 rather than $58,004.