Question: Daosta Inc. uses the FIFO method in its process costing system. The following data concern the operations of the companys first processing department for a

Daosta Inc. uses the FIFO method in its process costing system. The following data concern the operations of the companys first processing department for a recent month.

Work in process, beginning:
Units in process 600
Percent complete with respect to materials 60 %
Percent complete with respect to conversion 10 %
Costs in the beginning inventory:
Materials cost $ 585
Conversion cost $ 2,141
Units started into production during the month 11,000
Units completed and transferred out 11,400
Costs added to production during the month:
Materials cost $ 29,627
Conversion cost $ 306,516
Work in process, ending:
Units in process 200
Percent complete with respect to materials 70 %
Percent complete with respect to conversion 70 %

Daosta Inc. uses the FIFO method in its process costing system. The

Question 1: Determine the equivalent units of production for materials and conversion costs.

Question 2: Determine the cost per equivalent unit for materials and conversion costs. (Round your final answers to 2 decimal places.)

Question 3: Determine the cost of ending work in process inventory. (WIP)

Question 4: Determine the cost of units transferred out of the department during the month.

Required: Using the FIFO method: a. Determine the equivalent units of production for materials and conversion costs. b. Determine the cost per equivalent unit for materials and conversion costs. c. Determine the cost of ending work in process inventory. d. Determine the cost of units transferred out of the department during the month Complete this question by entering your answers in the tabs below. Req a Reg b Reqc Reg d Determine the cost per equivalent unit for materials and conversion costs. (Round your final answers to 2 decimal places.) Cost per Equivalent Unit Materials Conversion

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