The following data refer to the units processed by the grinding department for a recent month. Beginning work-in-process 12,000 Units started 200,000 Units completed 192,000 Ending work-in-process 20,000 The beginning work-in-process was 60% complete, and the ending work-in-process is 70% complete. What are the equivalent units of production for the month using the FIFO method

the equivalent units of production for the month using the FIFO method is materials = 200,000 units and conversion costs = 198,800 units.

Explanation:

FIFO method in Process Costing seeks to account the units worked during the production period only.

Materials

To finish Opening Work In Process (12,000 x 0%)              0

Started and Completed (192,000 - 12,000) x 100%       180,000

Ending Work In Process (20,000 x 100%)                       20,000

Equivalent units of Production                                       200,000

Conversion Costs

To finish Opening Work In Process (12,000 x 40%)         4,800

Started and Completed (192,000 - 12,000) x 100%      180,000

Ending Work In Process (20,000 x 70%)                         14,000

Equivalent units of Production                                       198,800

Conclusion :

the equivalent units of production for the month using the FIFO method is materials = 200,000 units and conversion costs = 198,800 units.

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