Chapter 4.A, Problem 9E

EXERCISE 4A-9 Equivalent Units; Equivalent Units of Production; Assigning Costs-FIFO Method LO4-6, LO4-7, LO4-8
Janene Corporation uses the FIFO method in its process costing system. The following data are for the most recent month of operations in one of the company's processing departments:

Required:

1. Compute the total cost per equivalent unit for the month.
2. Compute the equivalent units of material and conversion in the ending inventory;
3. Compute the equivalent units of material and conversion that were required to complete the beginning inventory.
4. Compute the number of units started and completed during the month.
5. Compute the cost of ending work in process inventory for materials, conversion, and in total for the month.
6. Compute the cost of the units transferred to the next department for materials, conversion, and in total for the month