Exercise 8-17 Compute Equivalent Units: FIFO Method (LO 8-1, 5)

Clean Corporation manufactures liquid window cleaner. The following information concerns its work in process:

	Beginning inventory, 44,000 (50 percent complete with respect to materials and 31 percent complete with respect to conversion costs).
	Transferred out, 209,000 gallons.
	Ending inventory (materials are 22 percent complete; conversion costs are 8 percent complete).
	Started this month, 237,000 gallons.

Required:

(a)	Compute the equivalent units for materials using FIFO.

(b)	Compute the equivalent units for conversion costs using FIFO.