Transcribed Image Text
In: AccountingJane industries manufactures plastic toys. the company uses theFIFO processing costing system. During October, Janes...Jane industries manufactures plastic toys. the company uses theFIFO processing costing system. During October, Janes Fabricationdepartment started work on 10,000 models. During the month, thecompany completed 11,000 models, and transferred them to thedistribution department. The company ended the month with 1500models in ending inventory. There were 2500 models in beginninginventory. All direct materials costs are added at the beginning ofthe production cycle and conversion costs are added uniformlythroughout the production process.Beginning work in process was 25% complete as to conversioncosts, while ending work in process was 50% complete as toconversion cost.Beginning Inventory: Direct Materials costs 19,200. Conversioncosts 10,800Manufacturing costs added during the accounting period: DirectMaterials Cost 70,000. Conversion costs 240,000.The FIFO method of process costing is used. CALCULATE the totalequivalent units (please show the number of equivalent unitsstarted and completed currently) and the costs per equivalent unitsfor direct materials and conversion costs, respectively for themonth of october?MaterialsConversionTotal Equivalent UnitsCost per Equivalent UnitReconcile and assign the costs for both materials and conversionfor only Started and Completed CurrentlyMaterialsConversionStarted and Completed Currently