Compute Costs per Equivalent Unit—FIFO: A company uses the FIFO method to account for its work in process inventories. The accounting records show the following information:

Quantity information is obtained from the manufacturing records and includes the following:

Required: Compute the cost per equivalent unit for direct materials and for conversion costs.

Transcribed Image Text:

Beginning work in process inventory: Direct materials Conversion costs Debits to work in process inventory this period: Direct materials Conversion costs $ 360 108 $ 468 $3,714 2,258