The chair company manufacturers a standard recliner. During February, the firm's Assembly Department started production of 75,000 chairs. During the month, the firm completed 82,000 chairs, and transferred them to the Finishing Department. The firm ended the month with 3,000 chairs in ending inventory at the Assembly Department. All direct materials costs are added at the beginning of the production cycle and conversion costs are added uniformly throughout the production process. The beginning work in process was 209% completed as to conversion costs, while the ending work in process was 70% completed as to conversion costs. Beginning inventory Direct materials Conversion costs S31,750 s100,450 Manufacturing costs added during the accounting period: Direct materials $168,000 Conversion costs $278,000 Answers with the FIFO method l. What were the equivalent units for direct materials and conversion costs during February? 2. What are the costs per equivalent unit for direct material and conversion costs 3. What is the dollar value of direct materials and conversion costs assigned to the ending work-in- process inventory in February? 4 What is the cost of the goods transferred out from Assembly Department to Finish Department during February