Zubris Corporation uses the first-in, first-out method in its process costing. The following data concern the company's Assembly Department for the month of January.
Required:Compute the costs per equivalent unit for the Assembly Department for January using the first-in, first-out method.

First-In, First-Out Method

An inventory valuation method where the costs of the earliest goods purchased are the first to be recognized in determining cost of goods sold.

Equivalent Unit

A concept used in cost accounting to represent the portion of a product, in terms of material, labor, or overhead costs, completed within a given period, facilitating cost analysis.

Assembly Department

A division within a manufacturing facility where components are assembled into final products or where significant assembly activity takes place.