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Compute the equivalent units for materials using fifo

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Question: Pierce & Company provides the following information concerning the work in process at its plant:

• Beginning inventory was partially complete (materials are 100 percent complete; conversion costs are 60 percent complete).

• Started this month, 60,400 units.

• Transferred out, 50,100 units.

• Ending inventory, 19,900 units (materials are 100 percent complete; conversion costs are 17 percent complete).

a. Compute the equivalent units for materials using FIFO

b. Compute the equivalent units for conversion costs using FIFO.

Reference no: EM131740909

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