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

 Easy Inc. uses the FIFO method in its process costing system.

The following data concern the operations of the company's first processing department

Easy Inc. uses the FIFO method in its process costing system. The following data concern the operations of the company's first processing department for a recent month: Units started into production during the month 26,000 Units completed and transferred out 25,500 Costs added to production during the month: Materials cost $79,732 Conversion cost $887,626 Work in process, ending: Units in process 800 Stage of completion with respect to materials 50% Stage of completion with respect to conversion 40% Required: Prepare a production report for the department using the FIFO method: Include the following: 2. Quantity schedule that shows total units accounted for and equivalent units (material, conversion). b. Total costs to be accounted for: cost per equivalent unit for material, conversion and total. There will be bonus marks to complete the dollar reconciliation either as part of section b and c or separately. c. Costs accounted for: cost of units transferred out and work-inprocess

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