Louisville Company produces baseball bats and cricket paddles. It has two departments (cutting and finishing) that process all products. During July, beginning work in process in the finishing department was 100% complete as to transferred in costs, 0% as to materials, and 80% complete as to conversion costs. Direct materials for finishing the units are added at the end of the process. Beginning inventories included $128,000 for transferred-in costs and $28,000 for conversion costs. Ending inventory was 100% complete as to transferred in costs, 0% as to direct materials, and 30% complete as to conversion costs. Phy units Beginning WIP 24,000 Units started this period 64,000 Units completed this period 68,000 Ending WIP units 20,000 Costs added during the period Trans in $128,000 DM $0 Conversion $28,000 $48,000 $34,000 $68,500 Given the following information regarding physical and equivalent units, prepare a production cost worksheet (i.e., compute the cost per equivalent unit and cost all of the relevant units) using FIFO for the Finishing Department. Flow of Production Finish beginning inventory Started and completed Work in process-ending Equivalent Units Physical Transferred Direct Conversion Units In Materials Costs 24,000 0 24,000 4,800 44,000 44,000 44,000 44,000 20,000 20,000 0 6,000