S#0 2:1 Open EXERCISE 4A-9 Equivalent Units: Applying Costs-FIFO Method (L04-6, L04- 7, L04-8) Jarvene Corporation uses the FIFO method in its process costing system, The following data are for the most recent month of operations in one of the company's processing departments: 400 Units in beginning inventory ... Units started into production Units in ending inventory Units transferred to the next department 3,000 300 3,100 Materials Conversion Percentage completion of beginning inventory..... Percentage completion of ending inventory... The cost of beginning inventory according to the company's costing system was $11,040 of which 58 120 was for materials and the remainder was for conversion cost. The costs added during the month amounted to $132.730. The costs per equivalent unit for the month were Conversion Material $25.40 Cost per equivalent unit Required: 1. Compute the total cost per equivalent unit for the month 2. Compute the equivalent units of material and of conversion in the ending inventory 3. Compute the equivalent units of material and of conversion that were required to complete the beginning inventory 4. Determine the number of units started and completed during the month 5. Determine the costs of ending inventory and units transferred out PROBLEM 4A-10 Equivalent Units; Applying Costs: Cost Reconciliation Report --FIFO Method (L04-6, L04-7, L04-8, L04-9) Selzik Company makes super-premium cake mixes that go through two processing departments, Blending and Packaging. The following activity was recorded in the Blending Department during July + 170.000 Production data: Units in process, July 1 (materials 100% complete, conversion 30% complete)... Units started into production ....... Units in process, Aly 31 (materials 100% complete conversion 40% complete... 20,000 Cost data: Work in process inventory, July 1: Materials cost ........... $8,500 Conversion cost .... $4,900 Cost added during the month Materials cost.... $139,400 Conversion cout . . $244,200 All materials are added at the beginning of work in the Blending Department. The company uses the FIFO method in its process costing system Required: 1. Determine the equivalent units for July for the Blending Department 2. Compute the costs per equivalent unit for July for the Blending Department 3. Determine the total cost of ending work in process inventory and the total cost of units transferred to the next process for the Blending Department in July 4. Prepare a cost reconciliation report for the Blending Department for July