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Yarmouth Company produces a liquid solvent in two departments: Mixing and Finishing. Accounting records at...

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Accounting

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 inventoryFinishingBeginning inventory (10,900 units, 20% complete with respect to Finishing costs)Transferred-in costs (from Mixing)$127,870Finishing conversion costs8,617Current work (99,800 units started)Mixing costs968,060Finishing costs495,243

The ending inventory has 14,900 units, which are 50 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.)

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