Question: Clonex Labs, Incorporated, uses the FIFO method in its process costing system. The following data are available for one department for October: Units Percent Completed

Clonex Labs, Incorporated, uses the FIFO method in its process costing system. The following data are available for one department for October:

	Units	Percent Completed
	Units	Materials	Conversion
Work in process, October 1	26,000	55%	33%
Work in process, October 31	21,000	80%	43%

The department started 172,000 units into production during the month and transferred 177,000 completed units to the next department.

Required:

Compute the equivalent units of production for materials and conversion for October.

Clonex Labs, Incorporated, uses the FIFO method in its process costing

Clonex Labs, Incorporated, uses the FIFO method in its process costing system. The following data are available for one department for October Percent Completed Materials Conversion 55% 33% 80% 43% Units 26,000 21,000 Work in process, October 1 Work in process, October 31 The department started 172,000 units into production during the month and transferred 177,000 completed units to the next department Required: Compute the equivalent units of production for materials and conversion for October. Materials Conversion Equivalent units of production

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