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Aztec Inc. produces soft drinks. Mixing is the first department, and its output is measured in gallons. Aztec uses the FIFO method. All manufacturing costs are added uniformly. For July, the mixing department provided the following information:

Production:
Units in process, July 1, 40% complete		22,000 gallons
Units completed and transferred out		135,000 gallons
Units in process, July 31, 55% complete		16,000 gallons
Costs:
Work in process, July 1		$44,000
Costs added during July		310,500

Required:

Prepare a production report.

Aztec Inc. Mixing Department
Production Report
For the Month of July (FIFO Method)
Unit Information
Physical flow:
Units to account for:	Units
Units in beginning WIP
Units started
Total units to account for
Units to account for:
	Units
Units started and completed
From beginning WIP
Units in ending WIP
Total units to account for
Equivalent units:	Units
Started and completed
To complete beginning WIP
Units in ending WIP
Total equivalent units
Cost Information
Costs to account for:
	Dollars
Costs in beginning WIP	$
Costs added by department
Total costs to account for	$
Cost per equivalent unit	$
Costs accounted for:
	Total
Transferred out:
Units started and completed	$
Units in beginning work in process:
From prior period
From current period
Total cost transferred out	$
Goods in ending work in process
Total costs accounted for	$

Carter Inc. had the following production and cost information for its fabrication department during April (with materials added at the beginning of the fabrication process):

Production:
Units in process, April 1, 50% complete with respect to conversion	10,000
Units completed	65,200
Units in process, April 30, 60% complete	12,000
Costs:
Work in process, April 1:
Materials	$40,980
Conversion costs	15,200
Total	$56,180
Current costs:
Materials	$125,000
Conversion costs	210,000
Total	$335,000

Carter uses the weighted average method.

Required:

1. Prepare an equivalent units schedule.

Carter Inc.
Schedule of Equivalent Units
(Weighted Average Method)
			Materials		Conversion
Units completed
Add: Units in ending WIP x Percent complete
		%
		%
Equivalent units of output

2. Calculate the unit cost. Round all intermediate calculations and final answer to the nearest cent. $per unit

3. Calculate the cost of units transferred out and the cost of EWIP. In your calculations round unit cost to the nearest cent and your final answers to the nearest dollar.

Cost transferred out	$
Cost of ending work in process	$

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