Chapter 6, Problem 29BEA

Use the following information for Brief Exercises 6-29 and 6-30:

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:

6-29 (Appendix 6A) First-In, First-Out Method; Equivalent Units

Refer to the information for Aztec Inc. on the previous page.

Required:

1. 1. Calculate the equivalent units for July.
2. 2. Calculate the unit cost. (Note: Round to two decimal places.)
3. 3. Assign costs to units transferred out and EWIP using the FIFO method.