Question

Work in process, beginning:

Answer 1

Answer:

FIFO Equivalent Units   Materials =  15,320

FIFO Equivalent Units  Conversion =  15,680

Explanation:

FIFO methods,

The equivalent units of production

Materials and conversion costs.

Particulars                Units      % of Completion           Equivalent Units

                                              Materials C. Costs       Materials C. Cost

Beg WIP                900          60            10              540           90

Units Transferred  14500      100          100          14500        14500

WIP Ending        400         70%            70%           280           280

Total                14900                                             15,320       15,680

FIFO Equivalent Units   Materials =  15,320

FIFO Equivalent Units  Conversion =  15,680

In Fifo method the percentage of the worked units is calculated to find the equivalent units of production.