Units completed and transferred out Less: beginning WIP Units started and completed Answer b 380,000 76,000 304,000 Equivalent units of production - FIFO Method Direct materials Conversion Percent Percent Units added EUP added E A B C=A*B D E= Beginning WIP 76,000 35% 26,600 65% 4 Units started and completed 304,000 100% 304,000 100% 30 Ending WIP 98,000 85% 83,300 35% 3 Equivalent units of production 478,000 413,900 38 Answer Req a Cost per Equivalent units of production - FIFO Method Cost incurred this period Total costs + Equivalent units of production Direct materials Conversion $1,278,951 $84 Costs $1,278,951 Costs $84 EUP 413,900 EUP 38 $ 3.09 $ Cost per Equivalent units of production Answer Req b Cost assignment - FIFO Beginning work in process $ 226,003 To complete beginning work in process EUP Cost per EUP Direct material 26,600 $ Conversion 49,400 $ 3.09 2.18 Total cost $ 82,194 $107,692 Total cost to complete $ 189,886 Total cost to complete beginning work in process $ 415,889 Started & Completed: Direct material EUP Cost per EUP Total cost 304,000 $ Conversion Total cost of started & completed Completed & Transferred out 304,000 $ 3.09 $ 939,360 2.18 $ 662,720 $1,602,080 $2,017,969 Ending work in process EUP Cost per EUP Total cost