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MediSecure, Incorporated, uses the FIFO method in its process costing system. It produces clear plastic containers for pharmacies in a process that starts in the
MediSecure, Incorporated, uses the FIFO method in its process costing system. It produces clear plastic containers for pharmacies in a process that starts in the Molding Department. Data concerning that departments operations in the most recent period appear below:
Beginning work in process: | |
---|---|
Units in process | 500 |
Completion with respect to materials | 80% |
Completion with respect to conversion | 40% |
Units started into production during the month | 153,600 |
Units completed and transferred out | 153,700 |
Ending work in process: | |
Units in process | 400 |
Completion with respect to materials | 75% |
Completion with respect to conversion | 20% |
Required:
Compute the Molding Department's equivalent units of production for materials and conversion for the period.
Materials | Conversion | |
Equivalent units of production |
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