Required information The following information applies to the questions displayed below [The following information applies to the questions displayed below. The production department in a process manufacturing system completed 80,000 units of product and transferred them to finished goods during a recent period. Of these units, 24,000 were in process at the beginning of the period The other 56,000 units were started and completed during the period. At period-end, 16,000 units were in process 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