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    Equivalent units for Cushing Company

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    The information below was obtained from the records of one of the departments of Cushing Company for the month of August. The company uses the FIFO method in its process costing system.

    Labor and Overhead

    Units
    Percent Complete

    Work in process, August 1..................................
    10,000
    25%

    Units completed and transferred out..................
    75,000

    Work in process, August 31................................
    20,000
    50%

    All materials are added at the beginning of the process.

    The equivalent units for materials for the month of August are

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    https://brainmass.com/business/accounting/equivalent-units-cushing-company-67875

    Solution Preview

    Equivalent units= Actual number of partially completed units * Stage of completion

    Statement of ...

    Solution Summary

    This provides the steps to compute the Equivalent units

    $2.19

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