1. Calculate cost per equivalent unit for direct materials and conversion cost using the FIFO method.

Production Report For the Month of August Equivalent Units Percentage of Completion with Respect to Conversion Physical Direct Material Units Conversion 80% Work in process, August 1 ...... Units started during August ............. Total units to account for Units completed and transferred out during August . Work in process, August 31 Total units accounted for ......................... 40,000 80,000 120,000 100,000 20,000 120,000 .. 100,000 20,000 100,000 6,000 30% ....... Direct Material Total Work in process, August 1 .............. Costs incurred during August....... Total costs to account for .... $ 42,000 96,000 $138,000 Conversion $ 305,280 784,400 $1,089,680 $ 347,280 880,400 $1,227,680