Howard Poster Incorporated had 12,000 units of work in process in Department A on October 1. These units were 60 percent complete as to conversion costs. Materials are added in the beginning of the process. During the month of October, 38,000 units were started and 40,000 units were completed. Howard had 10,000 units of work in process on October 31. These units were 75 percent complete as to conversion costs. Required: Compute the equivalent units for materials and conversion costs for the month of October using the FIFO method.

Principles of Cost Accounting
17th Edition
ISBN:9781305087408
Author:Edward J. Vanderbeck, Maria R. Mitchell
Publisher:Edward J. Vanderbeck, Maria R. Mitchell
Chapter5: Process Cost Accounting—general Procedures
Section: Chapter Questions
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Howard Poster Incorporated had 12,000 units of work in process
in Department A on October 1. These units were 60 percent
complete as to conversion costs. Materials are added in the
beginning of the process. During the month of October, 38,000
units were started and 40,000 units were completed. Howard
had 10,000 units of work in process on October 31. These units
were 75 percent complete as to conversion costs.
Required:
Compute the equivalent units for materials and conversion costs
for the month of October using the FIFO method.
Transcribed Image Text:Howard Poster Incorporated had 12,000 units of work in process in Department A on October 1. These units were 60 percent complete as to conversion costs. Materials are added in the beginning of the process. During the month of October, 38,000 units were started and 40,000 units were completed. Howard had 10,000 units of work in process on October 31. These units were 75 percent complete as to conversion costs. Required: Compute the equivalent units for materials and conversion costs for the month of October using the FIFO method.
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