In October, one of the processing departments at Gascon Corporation had beginning work in process inventory of $10,000 and ending work in process inventory of $16,000. During the month, $100,000 of costs were added to production and the cost of units transferred out from the department was $94,000.The company uses the FIFO method in its process costing system.
Required:
Construct a cost reconciliation report for the department for the month of October.

Question

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The Answer of In October, one of the processing departments at Gascon Corporation had beginning work in process inventory of $10,000 and ending work in process inventory of $16,000. During the month, $100,000 of costs were added to production and the cost of units transferred out from the department was $94,000.The company uses the FIFO method in its process costing system.
Required:
Construct a cost reconciliation report for the department for the month of October.

In October, One of the Processing Departments at Gascon Corporation