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Cozy Clothing, Inc., is a manufacturer of winter clothes. It has a knitting department and...

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Accounting

Cozy Clothing, Inc., is a manufacturer of winter clothes. It has a knitting department and a finishing department. This exercise focuses on the finishing department. Direct materials are added at the end of the process. Conversion costs are added evenly during the process. Suppose Cozy uses the FIFO method. Information for June 2020 follows:
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Read the requirements.
Requirement 2. Summarize the total costs to account for, and calculate the cost per equivalent unit for transferred-in costs, direct materials, and conversion costs.
Begin by summarizing the total costs to account for. (Enter a "0" for any zero balances.)
\table[[,\table[[Total],[Production Costs]],\table[[Transferred-In],[Costs]],\table[[Direct],[Materials]],\table[[Conversion],[Costs]]],[,,,,],[,,,,],[Total costs to acco,,,,]]
Calculate the cost per equivalent unit for transferred-in costs, direct materials, and conversion costs. (Round your answers to the nearest cent.)
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