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Beginning inventory for the month contained 3,000 units that were 80% complete with respect to materials....

Beginning inventory for the month contained 3,000 units that were 80% complete with respect to materials. During the month, 48,000 units were completed and transferred out. Ending inventory contained 5,000 units, 30% complete with respect to materials. The FIFO equivalent units of production for materials for the month would be

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Answer #1
Materials
Physical Units % of completion during this period Equivalent units of production
Beginning inventory           3,000 20%              600
Inventory started and completed during this period        45,000 100%        45,000
Ending Inventory           5,000 30%           1,500
Total        53,000        47,100
Working:
Total units completed and transferred during current period        48,000
Less beginning inventory completed during this period           3,000
Units started and completed during this period        45,000
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