Cost Information and FIFO

Gunnison Company had the following equivalent units schedule and cost information for its Sewing Department for the month of December:

	Direct Materials		Conversion Costs
Units started and completed	40,000		40,000
Add: Units in beginning work in process
Percentage complete:
5,000 0% direct materials
5,000 50% conversion Costs			2,500
Add: Units in ending work in process
Percentage complete:
10,000 100% direct materials	10,000
10,000 35% conversion Costs			3,500
Equivalent units of output	50,000		46,000
Costs:
Work in process, December 1:
Direct Material			$35,000
Conversion Costs			10,000
Total work in process			$45,000
Current costs:
Direct Material			$400,000
Conversion Costs			184,000
Total current costs			$584,000

Required:

1. Calculate the unit cost for December, using the FIFO method. $fill in the blank 1 per equivalent unit

2. 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	$fill in the blank 2
Cost of EWIP	$fill in the blank 3

Cost to account for:
BWIP	$fill in the blank 4
Current (December)	fill in the blank 5
Total	$fill in the blank 6

3. What if you were asked for the unit cost from the month of November? Calculate November's unit cost. $fill in the blank 7 per equivalent unit