Question 18.IP.1: Southern Aggregate Company manufactures concrete by a series...

Southern Aggregate Company manufactures concrete by a series of four processes. All materials are introduced in Crushing. From Crushing, the materials pass through Sifting, Baking, and Mixing, emerging as finished concrete. All inventories are costed by the first-in, first-out method.
The balances in the accounts Work in Process—Mixing and Finished Goods were as follows on May 1, 2014:

Inventory in Process—Mixing (2,000 units, 1/4 completed)            $13,700

Finished Goods (1,800 units at $8.00 a unit)                                       14,400

The following costs were charged to Work in Process—Mixing during May:

Direct materials transferred from Baking: 15,200 units at

$6.50 a unit                                                                                      $98,800

Direct labor                                                                                                   17,200

Factory overhead                                                                                         11,780

During May, 16,000 units of concrete were completed, and 15,800 units were sold. Inventories on May 31 were as follows:

Inventory in Process—Mixing: 1,200 units, 1/2 completed

Finished Goods: 2,000 units

instructions

1. Prepare a cost of production report for the Mixing Department.

2. Determine the cost of goods sold (indicate number of units and unit costs).

3. Determine the finished goods inventory, May 31, 2014.