Question: Refer to the data in Problem 6-16. Assume that the FIFO method is used. Required: 1. Prepare a physical flow schedule. 2. Calculate equivalent units

Refer to the data in Problem 6-16. Assume that the FIFO method is used.


Required:

1. Prepare a physical flow schedule.

2. Calculate equivalent units of production for direct materials and conversion costs.

3. Compute unit cost.

4. Calculate the cost of goods transferred to drilling at the end of the month. Calculate the cost of ending inventory.


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