(APPENDIX) FIRST-IN, FIRST-OUT METHOD; EQUIVALENT UNITS Lawson Company produces a product where all manufacturing inputs are applied uniformly. The company produced the following physical flow schedule for March:

Units to account for:

Units in BWIP (40 percent complete) 15,000 Units started 35,000 Total units to account for 50,000 Units accounted for:

Units completed:

From BWIP 10,000 Started and completed 32,000 42,000 Units, EWIP (75 percent complete) 8,000 Total units accounted for 50,000 Required:

Prepare a schedule of equivalent units using the FIFO method Exercise