Umbrella Corporation’s production cycle starts inDepartment A. All Materials are added at the beginning of theprocess, and conversion costs are added evenly during the process.The following info is available for July:

Work-in-Process, July 1 (20% complete forconversion)--------------------------$50,000 units

Units started inJuly-------------------------------------------------------------------------240,000units

Work-in-Process, July 31 (10% complete for conversion)--------------------------30,000 units

1. What are the equivalent units of production for materials usingFIFO?

1. 240,000
2. 260,000
3. 275,000
4. 290,000

2. What are the equivalent units of production forconversion costs, using FIFO?

1. 253,000
2. 273,000
3. 214,000
4. 223,000

Notes:

• Please explain in detail how you would arrive with 240,000 EUin materials.
• Please explain in detail how you would arrive at 253,000 EU inconversion.
• What are the distinct differences between units to beaccounted for and units accounted for?
• How do you find units started and completed?
• Please provide your explanations on computer if possible, ashandwritten answers are difficult to read.
• This is a created example that does not fall under anycopyright violations within the Chegg honor code.