(EUP; cost per EUP; cost assignment; FIFO & weighted average) Technosound Company mass produces miniature speakers for portable CD players. The fol¬ lowing T-account presents the firm’s cost information for February 1997:

The company had 400 units in process on February. 1. These units were 40 percent complete as to material and 30 percent complete as to conversion cost. During February, the firm started 1,500 units and ended the month with 150 units still in process. The units in ending WIP Inventory were 20 percent com¬ plete as to material and 70 percent complete as to conversion cost.

a. Compute the unit costs for February under the FIFO method for direct material and for conversion costs.

b. Compute the unit costs for February under the weighted average method for direct material and for conversion costs.

c. Determine the total costs transferred to Finished Goods Inventory during February using the FIFO method.

LO1

WORK IN PROCESS INVENTORY 2/1 Direct material cost in BI $ 1,027 2/1 Conversion cost in BI 588 Feb. DM received 11,682 Feb. DL incurred 2,513 Feb. OH applied to production 1,257