Managerial Accounting: E4-9 Jarvene Corporation uses the FIFO method

Managerial Accounting 
E4-9 Cost Reconciliation - FIFO Method 
Jarvene Corporation uses the FIFO method in its process costing system. The following data are for the most recent month of operations in one of the company’s processing departments: 
Units in beginning inventory 400 
Units started into production 3,000 
Units in ending inventory 300 
Units transferred to the next department 3,100 

Materials Conversion 
Percentage completion of beginning inventory 80% 40% 
Percentage completion of ending inventory 70% 60% 

The cost of beginning inventory according to the company’s costing system was $11,040 and the costs added duirng the month amounted to $132,730. The costs per equivalent unit for the month were: 
Materials Conversion 
Cost per equivalent unit $25.40 $18.20 

Required: 
1. Compute the total cost per equivalent units for the month. (Round your answer to 2 decimal places.) 
2. Compute the equivalent units of material and of conversion in the ending inventory. 
3. Compute the equivalent units of material and of conversion that were required to complete the beginning inventory. 
4. Determine the number of units started and completed during the month. 
5. Prepare the cost reconciliation portion of the department's production report for the month.
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