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Problem 1. Xavier Corporation manufactures a plastic toy product in a two-stage production process. Plastic material is brought into the Forming Department where it is shaped. Shaped products are then moved to the Finishing Department where metal is added. The following data is given for the Forming Department for November: Units for November:

Work in process, beginning inventory November 1 300 units

Direct materials (100% complete)

Conversion (40% complete)

Units started in November: 2,200 units

Work in process, ending inventory November 30 500 units

Direct materials (100% complete)

Conversion (25%)

Costs for November:

Work in process, beginning inventory Direct materials $7,100

Conversion $4,525

Costs added during November:

Direct materials $70,400

Conversion $40,100

Round to two decimal places.

Required:

a. How many units were transferred to Finishing?

b. How many units were started and completed during November?

c. How many equivalent units of conversion does it take to complete the beginning inventory in the current period?

d. What is the FIFO cost assigned to the ending inventory? (Show the calculation of cost per unit).

e. What is the FIFO cost assigned to the units transferred out?

f. Show the T-account for the forming process.

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