Equivalent Units and Product Cost Report-FIFO Method Following are the September 2019 charges (and certain annotations) appearing in the work-in-process account for Empire Company's processing department:

Empire uses the FIFO method. Materials are added at the beginning of the process and conversion costs are incurred evenly throughout. Ending work-in-process is composed of 1,000 units, 60% complete. Compute the following:

a. Equivalent units for direct materials and conversion.

b. Cost per equivalent unit or units transferred in and conversion.

c. Total cost assigned to the units transferred out.

Transcribed Image Text:

Beginning inventory (1,500 units, 70% complete) Direct materials. Conversion costs Current period Direct materials (6,000 units) Direct labor Manufacturing overhead applied.. $21,950 10,000 72,000 32,500 52,200