Haas Company manufactures microchips on a highly automated assembly line. Haas's costing system uses two cost categories, direct materials and conversion costs. Direct Materials are added at the beginning of the production process. Conversion costs are added evenly throughout the production.

Calculate Haass physical flow of units, equivalent units, cost per equivalent unit and assign costs to Finished Goods and Ending Work-in-Process Inventories using the FIFO method of processing costing.

Costs $ 126,600 $ 77,150 Beginning WIP 20,000 units Direct Materials Conversion (35% complete) Started 72,000 Units Direct Materials Conversion Ending WIP 14,000 Units (60% complete) $ 604,800 $385,090