Data concerning a recent period's activity in the Assembly Department, the first processing department in a company that uses the FIFO method in its process costing, appear below:

A total of 26,000 units were completed and transferred to the next processing department during the period. Beginning work in process inventory consisted of 2,000 units and ending work in process inventory consisted of 1,000 units.
Required:
1. Compute the Assembly Department's cost of ending work in process inventory for materials, conversion, and in total for the period.
2. Compute the Assembly Department's cost of units transferred out to the next department for materials, conversion, and in total for the period.

Transcribed Image Text:

Materials Conversion Cost of work in process inventory at the beginning of the period Equivalent units in the ending work in process inventory. Equivalent units required to complete the beginning $3,200 $650 200 work in process inventory. 600 $2.32 1,200 $0.75