Finishing: The company uses the FIFO method of process costing for this department.

• Materials are added at the end of the process.
• Spoilage is detected at the end of the finishing process. Normal spoilage is 2% of the good units transferred out of the finishing process into finished goods.

Production information related to January:

• Beginning work in process on January 1 was 65% complete as to conversion.
• Ending work in process on January 31 was 25% complete as to conversion.
• The beginning inventory on January 1 included $16,000 for transferred-in costs and $20,000 for conversion costs.

Other information related to production in January for the Finishing Department:

Beginning work-in-process units 24,000

Good units completed this period 51,000

Ending work-in-process units 20,000

Material costs added $28,000

Direct manufacturing labor added $27,000

Factory overhead applied $24,000

Provide the Following:

• Physical flow
• Equivalent units
• Cost per equivalent unit
• Cost assigned to units transferred out
• Cost of abnormal spoilage (if applicable)
• Cost assigned to units in ending work in process