help with calculations please :)
Cozy Clothing, Inc., is a manufacturer of winter clothes. It has a knitting department and a finishing department. This exercise focuses on the finishing department. Direct materials are added at the end of the process. Conversion costs are added evenly during the process. Suppose Cozy uses the FIFO method. Information for June 2020 follows: (Click the icon to view the information.) Read the requirements. --- Requirement 1. Calculate equivalent units of work done in the current period (for transferred-in costs, direct materials, and conversion costs) to complete beginning work in process, to start and complete new units, and to produce ending work in process inventory. (Enter a "0" for any zero balances.) Equivalent Units Physical Units Transferred-In Direct (tons) Costs Materials Conversion Costs Data Table Work in process, beginning 60 100 Transferred-in during current period A 160 To account for 1. B D E Physical Transferred-In Direct Conversion Units (tons) Costs Materials Costs 60 $ 45,000 s os 18,000 Completed and transferred out during current period: From beginning work in process Started and completed 60 0 60 309 60 60 60 0% 100% 50% 60' 40 40 0 Work in process, ending 30 100 120 160 2 Work in process, beginning inventory (June 1) 3 Degree of completion, beginning work in process 4 Transferred-in during June 5 Completed and transferred out during June 6 Work in process, ending inventory (June 30) 7 Degree of completion, ending work in process 8 Total costs added during June Accounted for 40 100 120 120 Equivalent units of work done in current period 75% 100% 0% 120,000 $30,000 $ S 63,000 Requirement 2. Summarize the total costs to account for, and calculate the cost per equivalent unit for transferred-in costs, direct materials, and conversion costs. Begin by summarizing the total costs to account for. (Enter a "0" for any zero balances.) Print Done Work in process, beginning Total Transferred-In Production Costs Costs 63,000 $ 45,000 $ 213,000 120,000 276,000 $ 165,000 $ Direct Conversion Materials Costs 0's 18,000 30,000 63,000 30,000 $ 81,000 Costs added in current period Total costs to account for Calculate the cost per equivalent unit for transferred-in costs, direct materials, and conversion costs. (Round your answers to the nearest cent.) Direct Conversion Materials Costs Transferred-In Costs $ 120,000's 100 Costs added in current period 30,000's 63,000 Divide by equivalent units of work done in current period 120 120 $ 1,200.00 $ 250.00 $ 525.00 Cost per equivalent unit Requirement 3. Assign costs to units completed (and transferred out) and to units in ending work in process Begin by calculating the total from beginning inventory, then calculate the total costs accounted for. (Enter a "0" for any zero balances. Round your final answers to the nearest whole dollar.) Total Transferred-In Direct Conversion Production Costs Costs Materials Costs Completed and transferred out: Work in process, beginning 63,000 $ 45,000 $ o's 18,000 Costs added to beginning WIP in current period 30,750 0 15,000 15,750 Total from beginning inventory 93,750 Started and completed 72,000 15,000 31,500 Total costs of units completed and transferred out 212 250 Work in process, ending 63,750 15,750 $ 276,000 $ 165,000 $ 30,000 $ 81,000 Total costs accounted for 118,500 48,000
