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The Molding Department of the Smith Company has the following production data: beginning work in process 20,000 units (60% complete), started in production 340,000 units,
The Molding Department of the Smith Company has the following production data: beginning work in process 20,000 units (60% complete), started in production 340,000 units, completed and transferred out 320,000 units, and ending working process 40,000 units (40% complete). Assume materials are entered at the beginning of the process, the equivalent units under the FIFO method for materials are:
a)
340,000. |
b) | 320,000. |
| c) 300,000. |
| d) 380,000. |
Please show work. It says the answer is a) but I don't know why it says that. Thank you.
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