Production costs chargeable to the Finishing Department in May at Kim Company are materials $8,000, labor $20,000, overhead $18,000, and transferred-in costs

$67,000. Equivalent units of production are materials 20,000 and conversion costs 19,000.

Kim uses the FIFO method to compute equivalent units. Compute the unit costs for ma terials and conversion costs. Transferred-in costs are considered materials costs.

AppendixLO1