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Equivalent units of Production - FIFO

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The following information concerning the work in process at its plant:

Beginning inventory was partially complete (materials are 100 percent complete; conversion costs are 59 percent complete).
Started this month, 69,900 units.
Transferred out, 60,000 units.
Ending inventory, 29,500 units (materials are 100 percent complete; conversion costs are 16 percent complete).

Compute the equivalent units for materials using FIFO.
Compute the equivalent units for conversion costs using FIFO.

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Solution Summary

The solution computes equivalent units for materials and conversion costs using FIFO.

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