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Calculate the equivalent units using the fifo method

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Reference no: EM131808675

Problem

Quad Company produces products using a process costing system.

No spoilage or transferred-in costs.

The following information is available for the current month: (DM=Direct Materials % Complete, CC=Conversion Costs %Complete)

Beginning WIP

3,000

DM 40%

CC 70%

Ending WIP

4,500

DM 30%

CC 65%

Units started

11,100

Required:

1. Calculate the equivalent units using the FIFO method.
2. Calculate the equivalent units using the Weighted Average method.

Reference no: EM131808675

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