Problem
Semore company makes camping lanterns using a single production process. All direct materials are added at the beginning of the manufacturing process. Information for the month of March follows:
Beginning work in process (40% complete): 10,025 units
Direct materials: $668,250
Conversion cost: $312, 900
Total cost of beginning work in process: $981,150
Number of units started: 18,500 units
Number of units completed & transferred to finished goods: 17,800 units
Ending work in process (75% complete)
Direct materials cost incurred: $1,201,200
Conversion cost applied:$ 633,250
Total cost added: $1,834,450
Using FIFO method of process costing, prepare the March production report for Seemore company.