Jones Company manufactures a single product and uses process costing (FIFO method). The companys product goes through two processing departments, Etching and Wiring. The following activity was recorded in the Etching Department during July:

Production data:
Units in process, July 1 (materials 60% complete; conversion 30% complete)		50,000
Units started into production		500,000
Units in process, July 31 (materials 80% complete; conversion 40% complete)		60,000
Cost data:
Work in process inventory, July 1:
Materials cost	$	17,000
Conversion cost	$	3,000
Cost added during July:
Materials cost	$	457,200
Conversion cost	$	349,300

Materials are added at several stages during the etching process. The company uses the FIFO method.

Required:

1. Compute the equivalent units of production.

2. Compute the costs per equivalent unit for July. (Round your answers to 2 decimal places.)

3. Determine the cost of ending work in process inventory and of the units transferred to the Wiring Department. (Round your intermediate calculations to 2 decimal places.)

4. Prepare a cost reconciliation between the costs determined in requirement 3 above and the cost of beginning inventory and costs added during the period. (Round your intermediate calculations to 2 decimal places.)