Calculate the cost of goods transferred out, calculate the cost of EWIP, and reconcile the costs assigned with the costs to account for.

Cost of goods transferred out

Cost of EWIP

Cost to account for:

BWIP

Current (December)

Total

Cost Information and FIFO Gunnison Company had the following equivalent units schedule and cost information for its Sewing De December: Direct Materials Conversion Costs Units started and completed 50,000 50,000 - 2,000 13,000 Add: Units in beginning work in process x Percentage complete: 4,000 ~ 0% direct materials 4,000 ~ 50% conversion Costs Add: Units in ending work in process x Percentage complete: 13,000 x 100% direct materials 13,000 ~ 35% conversion Costs Equivalent units of output Costs: Work in process, December 1: Direct Material Conversion Costs Total work in process 4,550 63,000 56,550 $44,000 6,000 $50,000 Current costs: Direct Material Conversion Costs $756,000 282,750 Total current costs $1,038,750