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13: (2 Points). At the beginning of the period, there were 1,000 units in process that were 40% complete as to conversion costs and 100%
13: (2 Points). At the beginning of the period, there were 1,000 units in process that were 40% complete as to conversion costs and 100% complete as to direct materials costs. During the period, 8,000 units were started and completed. Ending inventory contained 500 units that were 20% complete as to conversion costs and 100% complete as to materials costs. The company uses the FIFO process cost method. The equivalent units of production for materials and conversion costs, respectively, were
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