1. Do Exercise 17- 24 using the FIFO method. In Exercise 17-24, Tomlinson Corporation is a biotech company based in Milpitas. It makes a cancer-treatment drug in a single processing department. Direct materials are added at the start of the process. Conversion costs are added evenly during the process. Tomlinson uses the weighted-average method of process costing. The following information for July 2014 is available.
2. Tomlinson’s management seeks to have a more consistent cost per equivalent unit. Which method of process costing should the company choose andwhy?