Problem:
Second, inc. Has the following information:
Beginning inventory : $ 62,400
Material costs for June : 133,700
Conversion costs for June : 197,000
Beginning inventory June 12,000 units (80 % complete for material and 60% for conversions costs.)
Started in June 40,000 units
Finished and transferred during June 46,000 units
Ending in inventory June 6,000 units (30 % complete for material, and 10 % complete for conversions costs.)
Required: using the FIFO method, find the following:
1. Total EPU's material
2. Total EPU's conversion costs
3. Unit cost material
4. Unit cost conversion costs
5. Total cost transferred out
6. Total cost ending inventory