Compute Equivalent Units: FIFO Method Materials are added at the beginning of the production process…

Compute Equivalent Units: FIFO Method

Materials are added at the beginning of the production process at Santiago Company, which uses a FIFO process costing system. The following information on the physical flow of units is available for the month of April: Cost data for April show the following:

Beginning WIP inventory

 

Direct materials costs

$ 24,300

Conversion costs

38,700

Current period costs

 

Direct materials costs

$ 280,950

Conversion costs

1,079,550

Required

a. Compute the cost equivalent units for the conversion cost calculation assuming Santiago uses the weighted-average method.

b. Compute the cost per equivalent unit for materials and conversion costs for April.

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