Refer to the information for Inca Inc. above. Inca Inc. produces soft drinks. Mixing is the first

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Refer to the information for Inca Inc. above.
Inca Inc. produces soft drinks. Mixing is the first department and its output is measured in gallons. Inca uses the FIFO method. All manufacturing costs are added uniformly. For July, the mixing department provided the following information:
Refer to the information for Inca Inc. above.
Inca Inc. produces

Required:
1. Calculate the equivalent units for August.
2. Calculate the unit cost. (Note: Round to two decimal places).
3. Assign costs to units transferred out and EWIP using the FIFO method.

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Cornerstones of Financial and Managerial Accounting

ISBN: 978-1111879044

2nd edition

Authors: Rich, Jeff Jones, Dan Heitger, Maryanne Mowen, Don Hansen

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