First-In, First-Out Method; Equivalent Units Aztec Inc. produces soft drinks. Mixing is the first department, and its output is measured in gallons. Aztec uses the FIFO method. All manufacturing costs are added uniformly. For July, the mixing department provided the following information: Production: Units in process, July 1, 80% complete 40,000 gallons Units completed and transferred out 260,000 gallons Units in process, July 31, 75% complete 16,000 gallons Costs: Work in process, July 1 $ 64,000 Costs added during July 520,000

I need help with #3.

I have no idea what I am doing wrong and I keep getting the same answers.

Required: 1. Calculate the equivalent units for July. 240,000 equivalent units 2. Calculate the unit cost. Round your answer to the nearest cent. 2.17 per unit 3. Assign costs to units transferred out and EWIP using the FIFO method. Note: Do not round interim computations. Cost of units transferred out $ 558,760 x Ending work in process $ 26,040 X Feedback Check My Work Under FIFO, the equivalent units of work in BWIP from the prior period are not counted in calculating this period's equivalent units as BWIP prior period costs are excluded in calculating the unit cost. 1. Equivalent units (output) = BWIP (to be completed) + Units started and completed + EWIP (started but not completed) 2. Unit cost = Costs added during period / Equivalent units (output) 3. Cost of goods transferred out = BWIP costs (given) + Cost to finish BWIP (calculated) + Cost of units started and completed (calculated) 4. Ending WIP = Unit cost x Equivalent units EWIP *Unit cost x BWIP completed Review the "How to Calculate Output and Cost Assignments: First-In, First-Out Method" example in your text