Green Company makes a product, Gloworm, in a two-part process. Gloworm is assembled in Department A and then goes to Department B for finishing. All direct materials in B are added when the product is 45% complete and conversion costs are added uniformly throughout the process. The following information refers to the production in Department B in April.
Beginning inventory: 25,000 units, 40% completed for conversion costs; total cost: $49,700 ($28,000) conversion costs)
Ending Inventory: 60% completed for conversion costs
Units completed in April: 70,000 units
Costs added in April: Transferred-in from Department A, 90,000 units at $67,500; direct materials, $103,500; conversion costs, $127,890.
REQUIRED: (round to nearest penny)
Prepare a cost of production report for Department B using the FIFO method.