Vision Inc. had 27,800 units in process on December 31, 2022, 90% complete as to materials and 60% complete as to conversion costs. The company's records show that 88,000 units were transferred to the finished goods inventory during 2023. Furthermore, 68,000 units were on hand at the end of 2023, 70% complete as to materials and 40% complete as to conversion costs. Required: Calculate the equivalent units of production for direct materials and conversion costs for the FIFO method from the WACM equivalent units. Direct materials Conversion Equivalent Units (EU) units units

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Vision Inc. had 27,800 units in process on December 31, 2022, 90% complete as to materials and 60% complete as to conversion
costs. The company's records show that 88,000 units were transferred to the finished goods inventory during 2023. Furthermore,
68,000 units were on hand at the end of 2023, 70% complete as to materials and 40% complete as to conversion costs.
Required:
Calculate the equivalent units of production for direct materials and conversion costs for the FIFO method from the WACM equivalent
units.
Direct materials
Conversion
Equivalent Units (EU)
units
units
Transcribed Image Text:Vision Inc. had 27,800 units in process on December 31, 2022, 90% complete as to materials and 60% complete as to conversion costs. The company's records show that 88,000 units were transferred to the finished goods inventory during 2023. Furthermore, 68,000 units were on hand at the end of 2023, 70% complete as to materials and 40% complete as to conversion costs. Required: Calculate the equivalent units of production for direct materials and conversion costs for the FIFO method from the WACM equivalent units. Direct materials Conversion Equivalent Units (EU) units units
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