Question

Richards Corporation uses the FIFO method of process costing. The following information is available for October in its Fabricating Department:

Units:
Beginning Inventory: 95,000 units, 70% complete as to materials and 20% complete as to conversion.
Units started and completed: 265,000.
Units completed and transferred out: 360,000.
Ending Inventory: 37,500 units, 30% complete as to materials and 10% complete as to conversion.

Costs:
Costs in beginning Work in Process - Direct Materials: $37,200.
Costs in beginning Work in Process - Conversion: $79,700.
Costs incurred in October - Direct Materials: $646,800.
Costs incurred in October - Conversion: $919,300.

Calculate the equivalent units of conversion.

Multiple Choice

• 265,000

• 344,750

• 304,750

• 401,250

• 408,750