Problem - Sun Auto Detailers makes an environmentally sound automobile cleaner. The following data is available for the month of January.
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Beginning Work in Process
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Direct Materials
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50%
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Conversion Costs
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50%
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Ending Work in Process
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Direct Materials
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75%
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Conversion Costs
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65%
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Cost in Beginning Work in Process
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Direct Materials
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$52,500
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Conversion Costs
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$28,500
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Additional information:
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Work in processing beginning:
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Units in process
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10,000
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Units started into production
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60,000
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Units completed and transferred out
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40,000
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Work in process, ending:
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Units in process
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30,000
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Materials costs added
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$150,000
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Conversion costs
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$58,000
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$208,000
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Requirements - Using the FIFO method, determine the following. Show your work.
Cost per equivalent unit for materials and conversion costs ($/EU).