Refer to the information in Exercise 18-17. Suppose Grey Manufacturing Company uses the FIFO method of process costing instead of the weighted-average method.

In Exercise 18-17

Required
Compute equivalent units for direct materials and conversion costs. Show physical units in the first column of your schedule.

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Physical Units Direct Conversion (pennants) Materials Costs Work-in-process, November 1 Started during November 2015 Good units completed and transferred out 1,000 S 1,423 1,110 during November 2015 Normal spoilage Abnormal spoilage Work-in-process, November 30t Total costs added during November 2015 "Degree of completion: direct materials, 100%; conversion costs, 50%. tDegree of completion: direct materials, 100%; conversion costs, 30%. 9,000 100 50 2,000 S12,180 S27,750