A B C D E 1 2 Dickerson Company uses a process costing system. The following information relates to one month's activity in the company's Mixing Department. 3 This problem just asks for conversion units. So it is a little easier 4 5 6 Beginning work-in-process inventory 7 Physical units 10,000 units Materials Conversion 65,000 (20% complete) 8 Units started in July 9 Ending work-in-process inventory 10 11 Costs added in July 12 13 Required: 21,000 units 5,000 units (80% complete) Determine the number of units completed and transferred out Compute the equivalent units using the FIFO method. 112,000 14 1. 15 2. 16 3. Compute the costs per equivalent unit using the FIFO method. 17 4. Compute the costs of goods transferred out and the ending work-in-process inventory using the FIFO method. 18 19 20 21 22