Question: Refer to the data for Kalox, Inc., in Exercise 46. In Exercise 46, Kalox, Inc., manufactures an antacid product that passes through two departments. Data

Refer to the data for Kalox, Inc., in Exercise 4€“6.
In Exercise 4€“6, Kalox, Inc., manufactures an antacid product that passes through two departments. Data for May for the first department follow:

The beginning work in process inventory was 80% complete with respect to materials and 75% complete with respect to labor and overhead. The ending work in process inventory was 60% complete with respect to materials and 20% complete with respect to labor and overhead.

Required:
Assume that the company uses the FIFO method of accounting for units and costs.
1. Compute the equivalent units for May€™s activity for the first processing department.
2. Determine the costs per equivalent unit forMay.

Gallons Materials Labor Overhead Work in process, May 1 80,000 $68,600 $30,000 Gallons started in process.760,000 Gallons transferred out Work in process, May 31 50,000 Cost added during May $48,000 790,000 $907,200 $370,000 $592,000

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