Use the following information to answer the next 3 questions:

Henry Incorporated manufactures a high volume of identical flashlights called the Illumin-8. The company reported the following for the month of August:

Physical Units

Beginning work in process, August 1 18,000

Started during the August 100,000

Ending work in process, August 31 24,000

Materials are added at the beginning of the process. The beginning inventory was 60% complete with respect to conversion, and ending inventory was 90% complete with respect to conversion.

The company reports the following costs:

Cost in beginning work in process, August 1

Materials $39,060

Direct labor $17,300

Applied overhead $25,948

Cost incurred during August

Materials $168,300

Direct labor $179,172

Applied overhead $218,988

1. Using the weighted average method, what is the total cost of units transferred out during August?
   1. $566,460.
   2. $648,768.
   3. $512,400.
   4. $492,898.

1. Using the FIFO method, what is the total cost of units transferred out during August?

1. $430,860.
2. $509,880.
3. $566,460
4. $513,168.

1. What was the cost per equivalent unit for conversion for July under FIFO? (rounded to the nearest penny)
   1. $4.20.
   2. $4.00.
   3. $6.00.