A firm produces its product by a continuous process involving three production department, 1 through 3. Present entries to record the following selected transactions related to production during August:

a) materials purchesed on account, $120,000

b) materials requisitioned for use on Department 1, $125,700, of which $124,200 entered directly into product

c) labor cost incurred in Dept 1, $195, 400, of the high $174,000 was used directly in the manufacture of the product.

d) FO costs for Dept 1 incurred on account, $54,700

e) depreciation on the machinery in adept 1, $29,000

f) Expiration of prepaid insurance charge led to Dept 1, $7,000

g) FO applied to production in Dept , $106,300

h) Output of Dept 1 transferred to Depr 2, $362,700

11) The following information relates to a company X for the month of November

Beg. Work process

Direct materials, 100% complete

conversion cost, 70% complete

Units started in Nov,, 14,000

Nove Costs charged to WIP:

Direct material costs, $57,400

Direct labor costs, $20,049

FO costs. $30,073

Ending WIP: Nov. 30. 1,500 units

Direct materials, 100% complete

Conversion costs, 30% complete

Using the FIFO method I need to calculate the following

a) the equivalent units for materials and conversion costs

b) the cost per equivalent unit of materials and conversion cost.