Question: Using the information below and assuming a FIFO method of process costing, determine the equivalent units of production for labor and overhead. a. Beginning WIP

Using the information below and assuming a FIFO method of process costing, determine the equivalent units of production for labor and overhead. a. Beginning WIP Inventory (45% complete) 10,000 Units started in production 350,000 Units transferred out 344,000 Ending WIP Inventory (60% complete) 16,000 b. Beginning WIP Inventory (30% complete) 40,000 Units started in production 480,000 Units transferred out ? Ending WIP Inventory (70% complete) 26,000 c. Beginning WIP Inventory (55% complete) 15,000 Units started in production 405,000 Units transferred out 415,800 Ending WIP Inventory (90% complete) ? d. Beginning WIP Inventory (25% complete) 10,800 Units started in production ? Units transferred out 351,600 Ending WIP Inventory (45% complete) 18,300

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