Anika Manufacturing makes toys and uses the average process costing system. On May 1,

2017, the company had 400 units in process that were 70% completed as to materials and

85% completed as to conversion. During the month, 3,800 additional units were started. On

May 31, 300 units were still in process (40% completed as to materials and 60% completed as

to conversion). Cost information for May 2017 is as follows:

Beginning WIP Inventory

Direct materials P 4,349

Conversion 4,658

Current period costs

Direct materials 60,775

Conversion 46,750

1. Calculate the EUP for each cost component using the average method.

2. Calculate cost per EUP for each cost component using the average method.

3. Calculate the EUP for each cost component using the FIFO method.

4. Calculate cost per EUP for each cost component using the FIFO method.