. Corporation uses the FIFO method in its process costing system. Data concerning the first processing department for the most recent month are listed below:

Required:

II. The company uses FIFO Method in its process costing system.

a) What are the equivalent units for materials for the month in the first processing department?

b) What is the cost per equivalent unit for materials for the month in the first processing department? (Give answer to two decimal places)

Beginning work in process inventory: Units in beginning work in process inventory Materials costs....... Conversion costs..... Percent complete with respect to materials.... Percent complete with respect to conversion... Units started into production during the month.. Units transferred to the next department during the month... Materials costs added during the month ......... Conversion costs added during the month ... Ending work in process inventory: Units in ending work in process inventory...... Percent complete with respect to materials... Percent complete with respect to conversion..... 200 $4,500 $6,500 80% 75% 8,800 8,500 $241,400 $362,000 500 75% 30%