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David Company manufactures bicycles that go through two departments and the Accounting department uses the FIFO method of process costing. Bicycle parts are first manufactured

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David Company manufactures bicycles that go through two departments and the Accounting department uses the FIFO method of process costing. Bicycle parts are first manufactured in the molding department and these parts are then transferred to the assembly department where the bicycles are assembled and packaged for shipment. In both departments, materials are added at the beginning of the process and conversion is incurred evenly throughout the process. The following tables provide information about each department. Using the FIFO method, calculate the following for the molding department: Costs per equivalent unit. Cost of goods completed and transferred out. Cost remaining in the ending work-in-process inventory. Using the FIFO method, calculate the following for the assembly department: Costs per equivalent unit. Cost of goods completed and transferred out. Cost remaining in the ending work-in-process inventory

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