Please do parts 3,4,5 and 6. ## Exercise 4A-9 (Algo) Equivalent Units; Equivalent Units of Production; Assigning Costs-FIFO Method### [LO4-6, LO4-7, LO4-8]Jarvene Corporation uses the FIFO method in its process costing system. The following data are for the most recent month of operations in one of the company’s processing departments:- **Units in beginning inventory**: 370- **Units started into production**: 4,310- **Units in ending inventory**: 320- **Units transferred to the next department**: 4,360### Percentage Completion of Inventory| | Materials | Conversion ||----------------------|-----------|------------|| Percentage completion of beginning inventory | 70% | 30% || Percentage completion of ending inventory | 90% | 30% |The cost of beginning inventory according to the company’s costing system was $7,811 of which $4,806 was for materials and the remainder was for conversion cost. The costs added during the month amounted to $178,937. The costs per equivalent unit for the month were:| | Materials | Conversion ||----------------------|-----------|------------|| **Cost per equivalent unit** | $18.00 | $23.00 |### Required:1. Compute the total cost per equivalent unit for the month.2. Compute the equivalent units of material and conversion in the ending inventory.3. Compute the equivalent units of material and conversion that were required to complete the beginning inventory.4. Compute the number of units started and completed during the month.5. Compute the cost of ending work in process inventory for materials, conversion, and in total for the month.6. Compute the cost of the units transferred to the next department for materials, conversion, and in total for the month.---### Detailed Explanation of the Graph (if present):#### Note:There are no graphs included in this transcription. The tables provided contain quantitative data regarding units and costs which can be used to complete the required calculations outlined. **Instructions for Students:**Complete this question by entering your answers in the tabs provided below for each specific requirement (Required 1, Required 2, Required 3, Required 4, Required 5, Required 6). The first tab will have you computing the total cost per equivalent unit for the month (please round your answer to

Solution 1: Total cost per equivalent unit for the month = Cost per equivalent unit of materials +…

Jarvene Corporation uses the FIFO method in its process costing system. The following data are for the most recent month of operations in one of the company's processing departments: Units in beginning inventory Units started into production Units in ending inventory Units transferred to the next department 370 4,310 320 4,360

Jarvene Corporation uses the FIFO method in its process costing system. The following data are for the most recent month of operations in one of the company's processing departments: Units in beginning inventory Units started into production Units in ending inventory Units transferred to the next department 370 4,310 320 4,360

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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