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% 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 $