Daosta Inc. uses the FIFO method in its process costing system.The following data concern the op... Daosta Inc. uses the FIFOmethod in its process costing system. The following data concernthe operations of the company's first processing department for arecent month. Work in process, beginning: Units in process 900Percent complete with respect to materials 40 % Percent completewith respect to conversion 20 % Costs in the beginning inventory:Materials cost $ 530 Conversion cost $ 2108 Units started intoproduction during the month 16,000 Units completed and transferredout 16,000 Costs added to production during the month: Materialscost $ 32,180 Conversion cost $ 416,512 Work in process, ending:Units in process 900 Percent complete with respect to materials 50% Percent complete with respect to conversion 70 %
Using the FIFO method:
Equivalent Units of production for direct materials:
Equivalent units of production for conversion costs:
Cost per equivalent unit- direct materials:$
cost per equivalent unit- conversion costs:$
Total value of ending Work in process:$
Total value of units transferred out:$
