38 Department Ruses $60,000 of direct materials and Department Suses $15.000 of direct materials, the following journal entry would be recorded by the process costing system Work in Process Inventory. Department R Work in Process Inventory. Departments Raw Materials Inventory 50,00 15,000 75,000 2008 True or False True False Richards Corporation uses the FIFO method of process costing. The following information is available for October in its Fabricating Department 07 Units Beginning Inventory. 90,000 units, 70% complete as to materials and 20% complete as to conversion Units started and completed: 260,000 Units completed and transferred out 350,000 Ending Inventory, 35,000 units, 40% complete as to materials and 15% complete as to conversion points 2000 Costs: Costs in beginning Work in Process Direct Materials: 547,200 Costs in beginning Work in Process Conversion: 589700 Costs incurred in October - Direct Materials $759.920 Costs incurred in October - Conversion: $929,300 Calculate the cost per equivalent unit of materials