This is for FIFO .

LO2 PROBLEM 18.7B Delray Industries manufactures plastic wading pools as part of a continuous process through two th through Two LO5 Departments departments: Molding and Finishing. Direct materials and conversion are added throughout the month in both departments, but at different rates. The information presented below was compiled at the end of June: Process Costing Molding Finishing Beginning Inventories (on June 1): Physical units in production carried forward from May 31 3,000 5,000 Transferred Molding costs caried forward from May 31 $150,000 4,000 24,000 Direct materials costs carried forward from May 31. $ 37,800 14,400 Conversion costs camied forward from May 31........ Current Production (in June): Units started during June Units in ending inventories as of June 30._.. .. .. Costs 50,000 1,000 2,000 Molding costs transferred to Finishing during June..... Direct materials costs incurred in June Conversion costs incurred in June $912,600 612,000 $222,000 430,400 Inventories with respect to direct materials on June 1-... Inventories with respect to conversion on June 1........ Inventories with respect to direct materials on June 30 Inventories with respect to conversion on June 30. 70% 40 80% 20 20% 60 75% 90 a. Complete the following requirements for the Molding Department: 1. Prepare a schedule showing units started and completed in the Molding Department dur- 2. Compute the equivalent units of direct materials and conversion for the Molding Depart- 3. Determine the cost per equivalent unit of input resource for the Molding Department dur- 4. Prepare the summary journal entry required to transfer units from the Molding Depart- 5. Compute the costs assigned to ending inventory in the Molding Department on June 30. ing June. ment in June. ing June. ment to the FinishinDepartment during June