EXERCISE 5 The following information is available for the ABC Co. for the month of January. All materials are added at the start of production. All spoilage is abnormal and is detected by the final inspection at the end of the process Beginning work in process (80% complete) Ending work in process (55% complete) Beginning work-in-process costs 8,000 units 15,000 units Materials $14,000 38,200 Current costs Materials 50,750 173,130 Assume that ABC Co. uses the FIFO method Required 1. Calculate the equivalent units of production for materials and conversion cost:s