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...


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:








































Production:
Units in process, July 1, 80% complete120,000 gallons
Units completed and transferred out690,000 gallons
Units in process, July 31, 75% complete80,000 gallons
Costs:
Work in process, July 1$120,000
Costs added during July1,471,500


Required:



1.Calculate the equivalent units for July.
fill in the blank 1 equivalent units



2.Calculate the unit cost.
$fill in the blank 2per unit



3.Assign costs to units transferred out and EWIP using the FIFO method.













Cost of goods transferred out$fill in the blank 3
Ending work in process$fill in the blank 4


Jun 09, 2022
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