1. On January 1, 2018, XYZ Company had 1,000 unfinished units sitting on the assembly line. At January 1, those units were 30% complete as the material and 20% complete as conversion cost. During 2018, XYZ completed the 1,000 units referred to above and began work 7,000 new units. During 2018, XYZ completed 4,000 units. On December 31, 2018, XYZ had 4,000 on the assembly line. Those units were 60 % complete as to material and 40% complete as to conversion costs. Use this information to compute the following: ( EU stands for Equivalent Units)

A. Using FIFO Method, how many EU were produced as to conversion costs?

B. Using FIFO Method, how many EU were produced as to material?

C. Using the Weighted Average Method, how many units were produced as to material?

D. Using the Weighted Average Method, how many units were produced as to conversion costs?

E. Pretend the cost per EU is $.50 for material and $.70 for conversion costs. What is the cost of the EIWIP?