(Cost per EUP; weighted average & FIFO) Fantastic Borders manufactures concrete garden border sections. May 2006 production and cost information are as follows:

a. What is the total cost to account for?

b. Using weighted average process costing, what is the cost per equivalent unit for each cost component?

c. Using FIFO process costing, what is the cost per equivalent unit for each cost component?

d. How many units were in beginning inventory and at what percentage of completion was each cost component?LO1.

Transcribed Image Text:

WA EUP Direct material 80,000 sections Direct labor Overhead 76,000 sections 75,000 sections FIFO EUP Direct material 60,000 sections Direct labor 62,000 sections Overhead Bl costs Direct material 66,000 sections $ 9,800 Direct labor 3,160 Overhead 5,010 Current period costs Direct material $27,000 Direct labor 17,360 Overhead 42,240