1.

Pablo Company calculates the cost for an equivalent unit of production using process costing.

Data for June
Work-in-process inventory, June 1: 19,000 units
Direct materials: 100% complete	$	39,900
Conversion: 40% complete		15,200
Balance in work-in-process, June 1	$	55,100
Units started during June		45,800
Units completed and transferred out		45,800
Work-in-process inventory, June 30		19,000
Direct materials: 100% complete
Conversion: 80% complete
Cost incurred during June
Direct materials	$	119,080
Conversion costs
Direct labor		119,080
Applied overhead		155,720
Total conversion costs	$	274,800

Required:
1.	Compute cost per equivalent unit for both the weighted-average and FIFO methods. (Round your answers to 4 decimal places.)

	Weighted Average Cost Per EU	FIFO Cost per EU
Materials	?	?
Conversion	?	?
Total Cost	?	?

2.

Taxes R Us (TRU), an income tax preparation firm, uses the FIFO method of process costing for the monthly reports. TRU has no materials cost in the preparation of the returns. The following shows its March information:

Returns in process, March 1 (30% complete)		160
Returns started in March		1,900
Returns in process, March 31 (90% complete)		320
Labor and overhead costs for returns in process, March 1	$	4,000
Labor and overhead costs incurred in March	$	148,500

Required:

Calculate the amounts for conversion costs using the FIFO method:

Equivalent Units	?
Cost per equivalent unit	?
Cost of completed tax returns for the month of March	?
Cost of tax returns in process as of March 31	?

Thank you!!!