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URGENT: Jimbob Co. uses the FIFO method in its process costing system. The following data concern the operations of the company's first processing department for

URGENT:

Jimbob Co. uses the FIFO method in its process costing system. The following data concern the operations of the company's first processing department for a recent month.

Work in process, beginning:

Units in process

700

Stage of completion with respect to materials

50%

Stage of completion with respect to conversion

40%

Units started into production during the month

23,000

Work in process, ending:

Units in process

200

Stage of completion with respect to materials

80%

Stage of completion with respect to conversion

40%

Required: Using the FIFO method, determine the equivalent units of production for materials and conversion costs by compiling the "Quantity Schedule and Equivalent Units" portion of the production report.

Quantity schedule and equivalent units

Quantity Schedule

Units to be accounted for:

Work in process, beginning

Started into production

Total units

Equivalent units

Materials

Conversion

Work in process, beginning, complete

Units started and completed in period

Work in process, ending

Total units

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