Sepulveda Corporation uses a process costing system to manufacture laptop PCs. The following information summarizes operations for its VeryLite model during the quarter ending March 31, Year 1:
Units Direct Materials
Work-in-process inventory, January 1...........100......................$ 60,000
Started during the quarter.........................500
Completed during the quarter.....................400
Work-in-process inventory, March 31............200
Costs added during the quarter............................................$840,000
Beginning work-in-process inventory was 50% complete for direct materials. Ending work-in-process inventory was 75% complete for direct materials. What were the equivalent units for direct materials for the quarter using the FIFO method?
1. 450
2. 500
3. 550
4. 600