57 The mixing department of Cerise Ltd., a producer of fabric for Broadway Shows, has the following information regarding costs and output for March Units: Opening work-in-process inventory: 0 units Started and completed: 175,000 units Started and still in process at March 31: 58,000 units Direct materials: 100% complete Conversion costs: 50% complete The company uses the FIFO method of process costing Required: Costs: Direct materials: $885,400 Direct labour: $52,000 Factory overhead: $315,200 1. Prepare a quantity schedule showing the computation of the equivalent units of production for March. The company is interested in learning if there will be a difference between the WACM and FIFO approaches for data for March. (Round cost per equivalent unit to 2 decimal places.) 30 Required: 1. Prepare a quantity schedule showing the computation of the equivalent units of production for March. The company is interested in learning if there will be a difference between the WACM and FIFO approaches for data for March. (Round cost per equivalent unit to 2 decimal places.) Beginning work in process Poduction activity in the period Beginning work in process Started into production Started and completed Completed units Ending work in process Total volume processed Less EU from beginning of period Production volume in EU for the period Cost in work process, beginning i Costs added in the period Total costs to account for EU produced in March Cost per EU Physical Units Equivalent Units Processed Direct Materials To account for Accounted for (EU-DOC Physical units) Conversation Cost (EU DOC Physical units) DOC EU DOC EU % " % 1% % 0 0 WACM 0 WACM FIFO 0 FIFO $ 0 $ 2. Calculate the cost of 175,000 units transferred out in March. Transferred out in March 3. Calculate the cost of ending inventory in March. (Do not round intermediate calculations.) Ending inventory in March