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Hugo, Inc. has a process costing system at its Plainfield Avenue Plant. All materials are...

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Accounting

Hugo, Inc. has a process costing system at its Plainfield Avenue Plant. All materials are introduced when
conversion costs reach 50 percent complete. The following information is available for physical units during
August:
Work in process, August 1(25% complete as to conversion costs)
Units started in AugustQuestion 6
10 pts
Compute the total number of equivalent units of materials in ending inventory.Question 7
Compute the total number of equivalent units of conversion costs in ending inventory.
Question 8
10 pts
Determine the number of equivalent units of materials used to compute the cost per equivalent
unit of materials added during August.
Units transferred out to Finishing Department in August
Work in process, August 31(60% complete as to conversion costs)
20,000 units
240,000 units
200,000 units
Answer Questions 6 through 10 assuming Hugo Inc. uses the FIFO method to account for WIP.
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