Exercise $8-21($Static$)$ Compute Equivalent Units: FIFO Method $($LO $8-1,5)$

Trevor Mills produces agricultural feed at Its only plant. Materlals are added at the beginning of the process. Information on work$-$In$-$

process in December follows:

Beginning Inventory, $16,000$ partlally complete units, $10$ percent complete with respect to conversion costs.

Units started in December, $77,000$ units.

Units transferred out in December, $73,000$ units.

Ending Inventory, $20,000$ units, $62$ percent complete with respect to conversion costs.

Requlred:

Compute the equivalent units for materlals and conversion costs for December using the FIFO method.