Blue Company has beginning and ending Work-in-Process Inventories that are 45% and 10% complete,respectively.Materials are added at the beginning of the process.If first-in,first-out (FIFO)process costing is used,the total equivalent units for materials will equal the number of units:

Question

Quizplus · Accepted Answer

Under FIFO process costing, equivalent units for materials are calculated based on the units started into the process during the period, as materials are added at the beginning of the process.

Blue Company Has Beginning and Ending Work-In-Process Inventories That Are