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
<u>WIP Ending 400 70% 70% 280 280</u>
<u>Total 14900 15,320 15,680</u>
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.