Aztec Inc. produces soft drinks. Mixing is the first department, and its output is measured in gallons. Aztec uses the FIF0 method All manufacturing costs are added uniformly. For July, the mixing department provided the following information: Production: Units in process, July 1, 80% complete 60,000 gallons Units completed and transferred out 390,000 gallons Units in process, July 31, 75% complete 24,000 gallons Costs: Work in process, July 1 $ 96,000 Costs added during July 780,000 Required: 1. Calculate the equivalent units for July. equivalent units 2. Calculate the unit cost. Round your answer to the nearest cent. per unit 3. Assign costs to units transferred out and EWIP using the FIFO method. Note: Do not round interim computations. Cost of units transferred out Ending work in process %24

Aztec Inc. produces soft drinks. Mixing is the first department, and its output is measured in gallons. Aztec uses the FIF0 method All manufacturing costs are added uniformly. For July, the mixing department provided the following information: Production: Units in process, July 1, 80% complete 60,000 gallons Units completed and transferred out 390,000 gallons Units in process, July 31, 75% complete 24,000 gallons Costs: Work in process, July 1 $ 96,000 Costs added during July 780,000 Required: 1. Calculate the equivalent units for July. equivalent units 2. Calculate the unit cost. Round your answer to the nearest cent. per unit 3. Assign costs to units transferred out and EWIP using the FIFO method. Note: Do not round interim computations. Cost of units transferred out Ending work in process %24

Name: Aztec Inc. produces soft drinks. Mixing is the first department, and
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Description: 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:Produc

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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