Yarmouth Company produces a liquid solvent in two departments: Mixing and Finishing. Accounting records at Yarmouth show the following information for Finishing operations for February (no new material is added in the Finishing Department).

WIP inventoryFinishing
Beginning inventory (11,000 units, 30% complete with respect to Finishing costs)
Transferred-in costs (from Mixing)	$	130,000
Finishing conversion costs		11,250
Current work (100,000 units started)
Mixing costs		980,000
Finishing costs		508,500

The ending inventory has 15,000 units, which are 60 percent complete with respect to Finishing Department costs and 100 percent complete for Mixing Department costs.

Required: a. Complete the production cost report using the FIFO method. (Round "Cost per equivalent unit" to 2 decimal places.)

Yarmouth Company produces a liquid solvent in two departments: Mixing and Finishing. Accounting records at Yarmouth show the following information for Finishing operations for February (no new material is added in the Finishing Department).

WIP inventoryFinishing
Beginning inventory (11,000 units, 30% complete with respect to Finishing costs)
Transferred-in costs (from Mixing)	$	130,000
Finishing conversion costs		11,250
Current work (100,000 units started)
Mixing costs		980,000
Finishing costs		508,500

The ending inventory has 15,000 units, which are 60 percent complete with respect to Finishing Department costs and 100 percent complete for Mixing Department costs.

Required: a. Complete the production cost report using the FIFO method. (Round "Cost per equivalent unit" to 2 decimal places.)

Yarmouth Company produces a liquid solvent in two departments: Mixing and Finishing. Accounting records at Yarmouth show the following information for Finishing operations for February (no new material is added in the Finishing Department).

WIP inventoryFinishing
Beginning inventory (11,000 units, 30% complete with respect to Finishing costs)
Transferred-in costs (from Mixing)	$	130,000
Finishing conversion costs		11,250
Current work (100,000 units started)
Mixing costs		980,000
Finishing costs		508,500

The ending inventory has 15,000 units, which are 60 percent complete with respect to Finishing Department costs and 100 percent complete for Mixing Department costs.

Required: a. Complete the production cost report using the FIFO method. (Round "Cost per equivalent unit" to 2 decimal places.)

	Physical Units	Equivalent Units
		Mixing Department	Finishing Department
Flow of units:
Units to be accounted for:
Beginning WIP inventory
Units started this period
Total units to account for	0
Units accounted for:
Completed and transferred out
From beginning WIP inventory
Mixing
Finishing
Started and completed currently
Units in ending WIP inventory
Mixing
Finishing
Total units accounted for	0	0	0
	Total	Mixing Department	Finishing Department
Flow of costs:
Costs to be accounted for:
Costs in beginning WIP inventory
Current period costs
Total costs to be accounted for	$0	$0	$0
Cost per equivalent unit
Mixing
Finishing
Costs accounted for:
Costs assigned to units transferred out:
Costs from beginning WIP inventory
Current costs added to complete beginning WIP inventory
Mixing
Finishing
Current costs of units started and completed:
Mixing
Finishing
Total costs transferred out	$0	$0	$0
Cost of ending WIP inventory
Mixing
Finishing
Total costs accounted for	$0	$0	$0