Lenning Corporation uses the FIFO method in its process costing. The following data pertain to its Assembly Department for August. Work in process, August 1 Units started into production during August Units completed during August and transferred to the next department Work in process, August 31 Required: Units 750 Materials 40% Percent Complete Conversion 30% 8,600 8,100 1,250 60% 20% Compute the equivalent units of production for both materials and conversion costs for the Assembly Department for August using the FIFO method.

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Lenning Corporation uses the FIFO method in its process costing. The following data pertain to its Assembly Department for August.
Work in process, August 1
Units started into production during August
Units completed during August and transferred to the next department
Work in process, August 31
Required:
Units
750
Materials
40%
Percent Complete
Conversion
30%
8,600
8,100
1,250
60%
20%
Compute the equivalent units of production for both materials and conversion costs for the Assembly Department for August using the
FIFO method.
Transcribed Image Text:Lenning Corporation uses the FIFO method in its process costing. The following data pertain to its Assembly Department for August. Work in process, August 1 Units started into production during August Units completed during August and transferred to the next department Work in process, August 31 Required: Units 750 Materials 40% Percent Complete Conversion 30% 8,600 8,100 1,250 60% 20% Compute the equivalent units of production for both materials and conversion costs for the Assembly Department for August using the FIFO method.
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