Answer and Explanation:
1. The computation of unit cots is shown below:-
Unit cost = Total cost ÷ Equivalent units of output
Cost of per unit = $1,100,000 ÷ 220,000
= $5
2. The computation of the total cost of units transferred out and cost assigned to units in ending inventory is shown below:-
Transfer Out EWIP Total
Cost accounted for:
Goods transfer Out
(196,000 x $5) $980,000 $980,000
Goods EWIP
(24,000 x $5) 0 $120,000 $120,000
Total Cost $980,000 $120,000 $1,100,000
EWIP = Ending work in process