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A company uses the FIFO method for inventory costing. At the beginning of a period, the...

A company uses the FIFO method for inventory costing. At the beginning of a period, the production department had 40,000 units in beginning Work in Process inventory which were 50% complete; the department completed and transferred 175,000 units. At the end of the period, 32,000 units were in the ending Work in Process inventory and are 85% complete. Compute the number of equivalent units produced by the department.

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Answer #1

Equivalent unit = (BWIP*percent completion)+Unit started and completed+(EWIP*percent completion)

= (40000*50%)+135000+(32000*85%)

Equivalent unit = 182200

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