Reference no: EM133015617

Problem - A company had 5.000 units of work-in-process beginning inventory that were 40% complete for materials and 30% complete for conversion cost. During the period 60,000 units were started and 55,000 were completed. The ending work-in-process units are 100% complete for materials and 60% complete for conversion. Beginning work-in-process costs were $10,000 for materials and $30,000 for conversion cost. Current costs added equal $302,400 for materials and $1,249,500 for conversion. Given equivalent units of 63,000 for materials and 59,500 for conversion, calculate the total cost assigned to units started and completed during the period using the FIFO method.