Chapter 4.A, Problem 1E

EXERCISE 4A-1 Computation of Equivalent Units of Production-FIFO Method LO4-6

Refer to the data for Clones Labs, Inc., in Exercise 4-2.

Required:

Assuming the company uses the FIFO method, compute the equivalent units of production for materials and conversion for October.

Clones Labs, Inc, uses the weighted-average method in its process costing system. The following data are available for one department for October

	Percent Completed
Units Materials	Conversion
Work in process, October 1	30,000	65%	30%
Work in process, October 31	15,000	80%	40%
The department started 175.000 units into production during the month and transferred 190.000 completed units to the next department.