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Ermoin Inc. uses the FIFO method in its process costing system. The following data concern the operations of the company's first processing department for a

Ermoin Inc. uses the FIFO method in its process costing system. The following data concern the operations of the company's first processing department for a recent month.

Work in process, beginning:
units in process 700
Percent complete with respect to materials 50 %
Percent complete with respect to conversion 10 %
Costs in the beginning inventory:
Materials cost $ 595
Conversion cost $ 2,093
Units started into production during the month 14,000
Units completed and transferred out 14,600
Costs added to production during the month:
Materials cost $ 21,465
Conversion cost $ 440,618
Work in process, ending:
Units in process 100
Percent complete with respect to materials 60 %
Percent complete with respect to conversion 60 %

Using the FIFO method:

Required:
a. Determine the equivalent units of production for materials and conversion costs.

Materials Conversion
Equivalent units of production

b.

Determine the cost per equivalent unit for materials and conversion costs. (Round your answer to 2 decimal places.)

Materials Conversion
Cost per equivalent unit $ $

c. Determine the cost of ending work in process inventory.

Cost of ending work in process inventory $

d. Determine the cost of units transferred out of the department during the month.

Cost of units transferred out $

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