Beginning work in process: Units in process .. Completion with respect to materials... Completion with respect to conversion. Units started into production during the month Units completed and transferred out Ending work in process: Units in process ... Completion with respect to materials Completion with respect to conversion... 500 80% 40% 153,600 153,700 400 75% 20%

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Computation of Equivalent Units of Production—FIFO Method

MediSecure, Inc., uses the FIFO method in its process costing system. It produces clear plastic containers for pharmacies in a process that starts in the Molding Department. Data concerning that department’s operations in the most recent period appear below:

Required:

Compute the Molding Department’s equivalent units of production for materials and conversion for the period.

Beginning work in process:
Units in process ..
Completion with respect to materials...
Completion with respect to conversion.
Units started into production during the month
Units completed and transferred out
Ending work in process:
Units in process ...
Completion with respect to materials
Completion with respect to conversion...
500
80%
40%
153,600
153,700
400
75%
20%
Transcribed Image Text:Beginning work in process: Units in process .. Completion with respect to materials... Completion with respect to conversion. Units started into production during the month Units completed and transferred out Ending work in process: Units in process ... Completion with respect to materials Completion with respect to conversion... 500 80% 40% 153,600 153,700 400 75% 20%
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