Computation of Equivalent Units-FIFO Method
QualCon. inc.. produces wine bottles for vintners in a process that starts in the Melt and Mold Department. Data concerning that department's operations in the most recent period appear below:
Beginning work in process: |
|
Units in process | 400 |
Stage of completion with respect to materials | 75% |
Stage of completion with respect to conversion | 25% |
Units started into production during the month | 42,600 |
Units completed and transferred out | 42,500 |
Ending work in process: |
|
Units in process | 500 |
Stage of completion with respect to materials | 80% |
Stage of completion with respect to conversion | 30% |
Required:
QualCon uses the FIFO method in its process costing system. Compute the equivalent units of production for the period for the Melt and Mold Department.
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