Aztec Company manufactures microchips on a highly automated assembly line. Aztecs costing system uses two cost categories: direct materials and conversion costs. Direct materials are added at the beginning of the production process and conversion costs are added evenly throughout production. Beginning work-in-process was 40% complete as to conversion costs and ending work- in-process was 60% complete for conversion costs.

Calculate Aztecs physical flow of units, equivalent units, and cost per equivalent unit. Assign and identify costs allocated to Finished Goods and Ending Work-In-Process inventory categories using the FIFO method of process costing. (Thumbs up for that)

Data for the most recent year end are: Workinprocess,beginninginventoryUnitsstartedWorkinprocess,endinginventory:6,000units120,000units2,500units Costs for the most recent year end are: Work in process, beginning inventory: DirectmaterialsConversioncostsmaterialscostsaddedsioncostsadded$44,400$62,240$510,000$625,260