Martin Manufacturing uses the FIFO method of process costing and reports the following data from its Forming department: Direct materials. Percent Complete Beginning work in process inventory Units started this period Units completed and transferred out Ending work in process inventory Units 22,000 84,000 86,000 20,000 30% 90% Conversion Percent Compute the equivalent units for direct materials and conversion respectively for the Forming department. Complete 10% 60% 4

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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Martin Manufacturing uses the FIFO method of process costing and reports the following data from its Forming department:
Direct materials.
Percent Complete
Beginning work in process inventory
Units started this period
Units completed and transferred out
Ending work in process inventory
Units
22,000
84,000
86,000
20,000
30%
90%
Conversion Percent
Compute the equivalent units for direct materials and conversion respectively for the Forming department.
Complete
10%
60%
D
Transcribed Image Text:Martin Manufacturing uses the FIFO method of process costing and reports the following data from its Forming department: Direct materials. Percent Complete Beginning work in process inventory Units started this period Units completed and transferred out Ending work in process inventory Units 22,000 84,000 86,000 20,000 30% 90% Conversion Percent Compute the equivalent units for direct materials and conversion respectively for the Forming department. Complete 10% 60% D
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