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Use the following information: Physical Units -Started in August 2016 50,000 -Completed in August 46,000 -Final inventory of finished products 12,000 -Initial inventory of products

Use the following information:

Physical Units

-Started in August 2016 50,000

-Completed in August 46,000

-Final inventory of finished products 12,000

-Initial inventory of products in process 8,000

The initial inventory was 90% completed for materials and 40% for conversion costs. The final inventory was 60% completed for materials and 20% for conversion costs. Use the FIFO method to answer the questions.

  1. How many units were completed from the current period?
  2. How many were the equivalent units of conversion costs that remained in the final inventory of finished products?
  3. How many were the equivalent units of materials that remained in the final inventory of finished products?
  4. The equivalent units of conversion costs were
  5. The equivalent units of materials were
  6. How much were the units to be accounted for?

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