Equivalent Units and Product Cost ReportFIFO Method Following are the September 2019 charges (and certain annotations) appearing in the work-in-process account for Empire Companys processing department:

Beginning inventory (1,500 units, 70% complete)

Direct materials ............................................................. $21,950

Conversion costs ........................................................... 10,000

Current period Direct materials (6,000 units) .................................................. 72,000

Direct labor ................................................................ 32,500

Manufacturing overhead applied................................................ 52,200

Empire uses the FIFO method. Materials are added at the beginning of the process and conversion costs are incurred evenly throughout. Ending work-in-process is composed of 1,000 units, 60% complete. Compute the following:

a. Equivalent units for direct materials and conversion.

b. Cost per equivalent unit or units transferred in and conversion.

c. Total cost assigned to the units transferred out.