Exercise 03-18A FIFO: Equivalent units LO C4, P4 RSTN Co, produces its product through two sequential processing departments. Direct materials and conversion are added to the product evenly throughout each process. During October, the first process finished and transferred 160,000 units of its product to the second process of these units, 36,000 were in process at the beginning of the month and 124,000 were started and completed during the month The beginning work in process inventory was 30% complete. At the end of the month, the work in process inventory consisted of 21.000 units that were 80% complete Compute the number of equivalent units of production for the first process October Use the FIFO method Equivalent Units Equivalent units of production--FIFO EUP (for materials and conversion) Units of Product Percent Added Beginning work in process Goods started and completed Ending work in process Total units EUP EUP EUP 0 EUP