Compute Equivalent Units: FIFO Method
Materials are added at the beginning of the production process at Santiago Company, which uses a FIFO process costing system. The following information on the physical flow of units is available for the month of April:
|
Beginning work in process (40% complete) |
45,000 |
|
Started in April |
510,000 |
|
Completed in April and transferred out |
480,000 |
|
Ending work in process (70% complete) |
75,000 |
Required
Compute the equivalent units for the conversion cost calculation.