Question: Refer to E3-10 for information regarding Legacy Company. Required: Complete all requirements for E3-10 using the FIFO method. 1. Reconcile the number of physical units

Refer to E3-10 for information regarding Legacy Company.

Required:
Complete all requirements for E3-10 using the FIFO method.
1. Reconcile the number of physical units worked on during the period.
2. Calculate the number of equivalent units.
3. Calculate the cost per equivalent unit rounded to five decimal places.
4. Reconcile the total cost of work inprocess.

Work in process, May1 (100% complete for materials, 90% for conversion) Direct materials Conversion cost 36,000 units $64,500 $87,500 Number of units started 90,500 units May costs Direct materials Conversion cost $103,000 $189,500 Work in process, May 31 (100% complete for materials, 20% for conversion) 33,500 units

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