Fundamentals of Cost Accounting 3rd Edition by William N. Lanen, Shannon W. Anderson, Michael Maher

Exercise 23

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.