Question

MediSecure, Inc., uses the FIFO method in its process costing system. It produces clear plastic containers for pharmacies in a process that starts in the Molding Department. Data concerning that department’s operations in the most recent period appear below:

Beginning work in process:
Units in process	540
Completion with respect to materials	63	%
Completion with respect to conversion	41	%
Units started into production during the month	152,600
Units completed and transferred out	152,780
Ending work in process:
Units in process	360
Completion with respect to materials	68	%
Completion with respect to conversion	27	%

Required:

Compute the Molding Department's equivalent units of production for materials and conversion for the period. (Round your intermediate and final answers to the nearest whole number.)

MediSecure, Inc., uses the FIFO method in its process costing system. It produces clear plastic containers for pharmacies in a process that starts in the Molding Department. Data concerning that department’s operations in the most recent period appear below:

Beginning work in process:
Units in process	540
Completion with respect to materials	63	%
Completion with respect to conversion	41	%
Units started into production during the month	152,600
Units completed and transferred out	152,780
Ending work in process:
Units in process	360
Completion with respect to materials	68	%
Completion with respect to conversion	27	%

Required:

Compute the Molding Department's equivalent units of production for materials and conversion for the period. (Round your intermediate and final answers to the nearest whole number.)

MediSecure, Inc., uses the FIFO method in its process costing system. It produces clear plastic containers for pharmacies in a process that starts in the Molding Department. Data concerning that department’s operations in the most recent period appear below:

Beginning work in process:
Units in process	540
Completion with respect to materials	63	%
Completion with respect to conversion	41	%
Units started into production during the month	152,600
Units completed and transferred out	152,780
Ending work in process:
Units in process	360
Completion with respect to materials	68	%
Completion with respect to conversion	27	%

Required:

Compute the Molding Department's equivalent units of production for materials and conversion for the period. (Round your intermediate and final answers to the nearest whole number.)

Answer 1

Solution

	Material	Conversion
Equivalent Units of Production	152,685	152,656

Working

STEP 1 (FIFO)
Reconciliation of Units
	Units	% already completed		% completed this period
		Material	Conversion cost	Material	Conversion cost
Beginning WIP	540	63%	41%	37%	59%
Units introduced	152,600
Total units to be accounted for	153,140
Completed and Transferred unit	152,780	0%	0%	100%	100%
Ending WIP	360	0%	0%	68%	27%

.

STEP 2 (FIFO)
Equivalent Units
	Total Units	Material		Conversion cost
Units Transferred:		% completed this period	Equivalent Units	% completed this period	Equivalent Units
From WIP	540	37%	200	59%	319
From units started/Introduced	152,240	100%	152,240	100%	152,240
Total	152,780		152,440		152,559
	Total Units	Material		Conversion cost
Ending WIP		% completed this period	Equivalent Units	% completed this period	Equivalent Units
Total	360	68%	245	27%	97
Total EUP	153,140		152,685		152,656