Question: Compute the cost per equivalent unit for materials and conversion costs using the FIFO method with the following data: Beginning WIP 5,000 units (50% complete),

  1. Compute the cost per equivalent unit for materials and conversion costs using the FIFO method with the following data: Beginning WIP 5,000 units (50% complete), Units started 20,000, Ending WIP 7,000 units (60% complete), Material costs $120,000, Conversion costs $80,000.

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