C 1 3 llage is 24 B D E F G H 1 Juice & Fruit Company uses a FIFO process costing system. 2 Conversion costs incur evenly throughout the process. Direct Materials are added at the beginning of the process. 4 Inspection occurs when production is 80% complete. 5 Normal spoilage is 2% of good units completed. 6 7 The following is additional information for the month of July 2019: 8 9 Physical units 10 Beginning WIP (40% complete) 10,000 11 Started during July 210,000 210,000 12 Completec 180,000 180,000 13 Ending WIP (60% complete) 34,500 14 15 Costs 16 Beginning work in process costs 17 Direct materials $ 65,000 $ 73,000 18 Conversion costs 19 Costs incurred during July $ 869,400 20 Direct materials $ 2,372,980 21 Conversion costs 22 23 Required: 24 1. Calculate the equivalent units for July using the FIFO method including the physical units reconciliation (10 mark 25 26 27 28 G B D H 23 Required: 24 1. Calculate the equivalent units for July using the FIFO method including the physical units reconciliation (10 mark 25 26 27 28 29 30 31 32 33 34 35 36 37 38 2. Calculate the cost per equivalent unit using FIFO (2 marks) 39 40 41 42 43 44 45 46 47 48 49 50 3. Assign costs to the units completed and transferred out, and abnormal spoilage (10 marks) 51 52 53 Question 1 (22 marks) New