Refer to the information for Aztec Inc. on the previous page.

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

Production:

Units in process, July 1, 80% complete.................120,000 gallons

Units completed and transferred out....................690,000 gallons

Units in process, July 31, 75% complete.................80,000 gallons

Costs:

Work in process, July 1...........................................$ 120,000

Costs added during July...........................................1,471,500

Required:

1. Calculate the equivalent units for July.

2. Calculate the unit cost. (Note: Round to two decimal places.)

3. Assign costs to units transferred out and EWIP using the FIFO method.