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Pierce & Company provides the following information concerning the work in process at its plant: Beginning inventory was partially complete (materials are 100 percent complete;
Pierce & Company provides the following information concerning the work in process at its plant:
Beginning inventory was partially complete (materials are 100 percent complete; conversion costs are 59 percent complete).
Started this month, 60,700 units.
Transferred out, 50,300 units.
Ending inventory, 20,300 units (materials are 100 percent complete; conversion costs are 14 percent complete).
Required:
a.Compute the equivalent units for materials using FIFO.
b.Compute the equivalent units for conversion costs using FIFO.
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