13

Required Information Use the following information for the Exercises below. [The following information applies to the questions displayed below) A production department in a process manufacturing system completed its work on 70,000 units of product and transferred them to the next department during a recent period. Of these units, 28,000 were in process at the beginning of the period. The other 42,000 units were started and completed during the period. At period-end. 17,000 units were in process Exercise 20-5A FIFO: Computing equivalent units LO C4 Prepare the department's equivalent units of production with respect to direct materials under each of the three separate assumptions using the FIFO method for process costing. Equivalent units of Production (EUPFIFO Method 1. All direct materials are added to products when processing begins. Units Materials EUP Materials Total 2. Beginning inventory is 40% complete as to materials and conversion costs Ending inventory is os complete as to materials and conversion costs Units Materials EUP Materials ere to search ORI prepare me uepatutents equivalent ULS DI PIUULLOT with respect to receidleridis under chi veuree separdie assut using the FIFO method for process costing. Equivalent Units of Production (EUP) FIFO Method 1. All direct materials are added to products when processing begins. Units * Materials EUP-Materials Total 2. Beginning inventory is 40% complete as to materials and conversion costs. Ending inventory is 80% complete as to materials and conversion costs. Units 56 Materials EUP.Materials Total 3. Beginning inventory is 60% complete as to materials and 40% complete as to conversion costs. Ending inventory is 30% complete as to materials and 60% complete as to conversion costs. Units * Materials EUP-Materials Total