The Sarron Processing Company had work in process at the beginning and end of March 2020 in its Painting Department as follows: (Click the icon to view the work-in-process information.) The company completed 40,000 units during March. Manufacturing costs incurred during March were direct materials costs of $600,000 and conversion costs of $500,000. Inventory at March 1 was carried at a cost of $40,000 (direct materials, $30,000 and conversion costs, $10,000). Assuming Sarron uses FIFO costing, determine the equivalent units of work done in March, and calculate the cost of units completed and the cost of units in ending inventory. Begin by entering the physical units first, then calculate the equivalent units. Equivalent Units Direct Conversion Physical Units Flow of Production Materials Costs Work in process, beginning Started during current period To account for Completed and transferred out during current period: From beginning work in process Started and completed Work in process, ending Accounted for The Sarron Processing Company had work in process at the beginning and end of March 2020 in its Painting Department as follows: B (Click the icon to view the work-in-process information.) The company completed 40,000 units during March. Manufacturing costs incurred during March were direct materials costs of $600,000 and conversion costs of $500,000. Inventory at March 1 was carried at a cost of $40,000 (direct materials, $30,000 and conversion costs, $10,000). Assuming Sarron uses FIFO costing, determine the equivalent units of work done in March, and calculate the cost of units completed and the cost of units in ending inventory. Equivalent unts of work done in current period Next, summarize the total costs to account for. Total Direct Conversion Costs Production Costs Materials Total costs to account for Now calculate cost per equivalent unit for direct materials and conversion costs. Conversion Direct Materials Costs Divide by Cost per equivalent unit Finally, assign total costs to units completed (and transferred out) and to units in ending work in process (WIP). Begin by calculating the total from beginning inventory, then calculate the total costs accounted for. Total Direct Conversion Production Costs Materials Costs Completed and transferred out: Total from beginning inventory Total costs of units completed and transferred out Total costs accounted for ed 40,000 units during March. Manufacturing costs incurred during March were direct materials costs of $600,000 and conversion costs of $500,000. Inventory at | f $40,000 (direct materials, $30.000 and.conversion costs $10.0001 FIFO costing, determine the x st of units in ending inventory. Data table it sts to units completed (and tra Percentage of Completion Direct Materials Conversion Costs m beginning inventory, then calculate the 40% 20% March 1 (20,000 units) March 31 (20,000 units) 90% 20% erred out: Print Done ing inventory Es completed and transferred out for