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Terminal Industries (TI) produces a product using three departments: Mixing, Processing, and Filtering. New material...

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Accounting

Terminal Industries (TI) produces a product using three departments: Mixing, Processing, and Filtering. New material is added only in the Mixing Department. The following information is given for the Processing Department for August. TI uses process costing.

WIP Inventory Processing Department: August 1
Quantity (60% complete) 28,000 units
Transferred-in costs (from Mixing Department) $ 37,100
Conversion costs (Processing Department) 14,412
Total WIP cost: August 1 $ 51,512
Current production and costs (August)
Units started 75,000 units
Current costs
Transferred-in costs (from Mixing Department) $ 91,680
Conversion costs (Processing Department) 61,060
Total current cost: August $ 152,740
WIP Inventory Processing Department (August 31)
Quantity (20% complete) 13,000 units
Transferred-in costs (from Mixing Department) ??
Conversion costs (Processing Department) ??
Total WIP cost: August 31 ??

Required:

Complete the production cost report for August using FIFO.image

Note: Round "Cost per equivalent unit" to 2 decimal places.

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