18-25 FIFO METHOD, SPOILAGE. Refer to the information in Exercise 18-240. LO 1 1. Equivalent units for conversion costs for the current period, 2,700 units Required Do Exercise 18-24 0 using the FIFO method of process costing.18-24 WEIGHTED-AVERAGE METHOD, SPOILAGE. Chipcity Inc. is a fast-growing manufacturer of computer chips. Direct materials are added at the start of the production process. Conversion costs are added evenly during the process. Some units of this product are spoiled as a result of defects not detectable before inspection of finished goods. Spoiled units are disposed of at zero net disposal value. Chipcity uses the weighted-average method of process costing. LO 2 1. Total equivalent units for conversion costs, 2,880 unitsSummary data for September 2018 are physical Units Direct Conversion (computer chips) Materials Costs work-in-process, beginning inventory 800 5 98.000 s 15.300 (Sept. 1) Degree of completion of beginning WIP 100%% 309% Started during September 2.550 Good units completed and transferred 2.100 out during september Work-in-process, ending inventory (Sept. 450 30) Degree of completion of ending WIP 1009% Total costs added during September $587,000 $230,400 Normal spoilage as a percentage of good units Degree of completion of normal spoilage 100% 1009% Degree of completion of abnormal 100% 100% spoilageRequired For each cost category, compute equivalent units. Show physical units in the first column of your schedule. Summarize total costs to account for, calculate cost per equivalent unit for each cost category, and assign total costs to units completed and transferred out (including normal spoilage), to abnormal spoilage, and to units in ending work-in-process