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Equivalent production for labor and overhead with begining Work in process

Firm Using FIFO Method of Treating Initial Work in Process Inventory. The cost of production report appearing below shows production and cost data for the Finishing Department of the Powlenko Processing Company. The company uses the fifo costing method in its process cost system. All production and cost data have been placed in the cost of production report.

Cost of Production Report—Finishing Department
Quantity Schedule:
Units in process, April 1 (all materials, 3/4 labor and overhead) 10,000
Transferred in during April                                                        40,000
Total to be accounted for                                                          50,000
Transferred to finished goods                                                    35,000
Units lost                                                                                    5,000
Units in process, April 30 (all materials, Vi labor and overhead) 10,000
Total accounted for                                                                   50,000

Costs Charged to Finishing Department:
 
Work in process, April 1:
From preceding department              $ 38,000
From this department:
Materials (all)             $21,500
Labor (3/4)                  39,000
Overhead (3/4)            42,000           102,500
Total                                                  140,500
Transferred in during April (40,000)   140,000
 
Costs added during April:
Materials                                          $ 70,000
Labor                                                162,500
Overhead                                          130,000
Total departmental cost this month      362,500
Total cost                                           643,000

Required: (1) The unit cost adjustment for lost units.
(2) The equivalent production for labor and overhead.
(3) The total cost of the units transferred to finished goods inventory,
(4) The cost of the final work in process inventory.
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