Chilly Clothing, Inc., is a manufacturer of winter clothes. It has a kniting department and a finishing department. This exercise focuses on the finishing department. Direct materials are added at the end of the process. Conversion costs are added evenly during the process. Suppose Chily uses the FIFO method. Information for June 2020 follows: (Click the icon to view the information.) Read the requirements. Requirement 1. Calculate equivalent units of work done in the current period (for transferred-in costs, direct materials, and conversion costs) to complete beginning work in process, to start and complete new units, and to produce ending work in process inventory. (Enter a "D" for any zero balances.) Work in process, beginning Transferred-in during current period To account for Completed and transferred out during current period From beginning work in process Started and completed Work in process, ending Accounted for Equivalent units of work done in current period (tons) Physical Units Transferred-in Costs Equivalent Units Direct Materials Conversion Costs 80 145 65 Chilly Clothing, Inc., is a manufacturer of winter clothes. It has a knitting department and a finishing department. This exercise focuses on the finishing department. Direct materials are added at the end of the process. Conversion costs are added evenly during the process. Suppose Chilly uses the FIFO method. Information for June 2020 follows: (Click the icon to view the information.) Read the requirements Requirement 1. Calculate equivalent units of work done in the current period (for transferred-in costs, direct materials, and conversion costs) to complete beginning work in process, to start and complete new units, and to produce ending work in process inventory. (Enter a "0" for any zero balances.) Work in process, beginning Transferred-in during current period To account for Completed and transferred out during current period From beginning work in process Started and completed Work in process, ending Accounted for Equivalent units of work done in current period Equivalent Units Physical Units Transferred-in (tons) Costs Direct Materials Conversion Costs 80 145 65 ng, Inc., is a manufacturer of winter clothes. It has a knitting department and a finishing department. This exercise focuses on the fi rocess. Conversion costs are added evenly during the process. Suppose Chilly uses the FIFO method. Information for June 2020 fo he icon to view the information.) Data table D E Transferred-In Direct Conversion Costs Materials Costs 80 $ 57,000 $ 0 $ 24,000 100% 0% 50% 1 A 2 Work in process, beginning inventory (June 1) 3 Degree of completion, beginning work in process 4 Transferred-in during June 5 Completed and transferred out during June 6 Work in process, ending inventory (June 30) Degree of completion, ending work in process 7 8 Total costs added during June B Physical Units (tons) 145 160 65 Print Done 100% 0% 60% $ 144,000 $ 44,000 $ 81,600 nc., is a manufacturer of winter clothes. It has a knitting department and a finishing department. This exercise focuses ss. Conversion costs are added evenly during the process. Suppose Chilly uses the FIFO method. Information for Jun- on to view the information.) ements. 1. Calcul units, and cess, begin d-in during c t for d and transfe beginning wo d and comple process, endin ted for Requirements 1. Calculate equivalent units of work done in the current period (for transferred-in costs, direct materials, and conversion costs) to complete beginning work in process, to start and complete new units, and to produce ending work in process inventory. 2. Summarize the total costs to account for, and calculate the cost per equivalent unit for transferred-in costs, direct materials, and conversion costs. 3. Assign costs to units completed (and transferred out) and to units in ending work in process. ent units of work done in current period Print Done - X version c