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Assad Company uses the process costing method with the following data for the month of...

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Accounting

Assad Company uses the process costing method with the following data for the month of July.
Work-in-process, July 1,30,000 units:
Direct material: 100% completed $ 65,500
Conversion: 30% completed 51,910
Balance in work in process, July 1 $ 117,410
Units started during July 40,000
Units finished 50,000
Work in process, July 31,20,000 units:
Direct material: 100% completed
Conversion: 60% completed
Cost incurred during July:
Direct materials $ 120,000
Conversion costs 199,810
Total $ 319,810
Required:
(1) Compute cost per equivalent unit under the weighted-average method.
(2) Compute cost per equivalent unit under FIFO method.

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