Refer to the data for Helox Ltd in E5-10. Assume that the company uses the FIFO cost method.

Data from E5-10

Helox Ltd manufactures a product that passes through two production processes. A quantity schedule for a recent month for the first process follows:

Costs in the beginning work in progress inventory of the first processing department were: materials, £1,200; and conversion cost, £3,800. Costs added during the month were: materials, £54,000; and conversion cost, £352,000.

Required
1. Prepare a quantity schedule and a computation of equivalent units for the month for the first process.
2. Compute the costs per equivalent unit for the month for the first process.

Transcribed Image Text:

Units to be accounted for: Work in progress inventory, 1 May (all materials, 40% conversion cost added last month) Started into production Total units Quantity schedule 5,000 180,000 185,000