Example. Let us use the same example as in the article on process costing under weighted average method. Prepare a cost of production report for the packaging department of Company ABC for the month of December 2013 under FIFO method of process costing. Important information is reproduced here.
Water goblets are a type of stem ware typically used in formal place settings along with wine glasses or goblets. While usually made of glass or crystal, water goblets are also made of metal, ceramic, wood or plastic. Use these large goblets to consume water, not any other beverages.
The quart (abbreviation qt.) is an English unit of volume equal to a quarter gallon. It is divided into two pints or four cups. Historically, the exact size of the quart has varied with the different values of gallons over time and in reference to different commodities. Presently, three kinds of quarts remain in use: the liquid quart and dry quart of the US customary system and the imperial quart of the British imperial system.