Malmedy Corporation uses the FIFO method in its process costing system. The following data pertain to operations in the first processing department for a recent month: Work in process, beginning: Units in process? Percent complete with respect to materials 75 % Percent complete with respect to conversion 50 % Costs in the beginning inventory: Materials cost $ 2,300 Conversion cost $ 3,600 Units started into production during the month 25,200 Units completed and transferred out during the month 24,000 Costs added to production during the month: Materials cost $ 98,750 Conversion cost $ 220,500 Work in process, ending: Units in process 2,000 Percent complete with respect to materials 80 % Percent complete with respect to conversion 45 %
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