During August,the Filtering Department of Union Square,Inc.had a beginning Work-in-Process Inventory balance of 120 units with costs of $60,000.During the month,it started and completed 260 units.It had 30 units in the ending Work-in-Process Inventory.What is the number of equivalent units of production for transferred in units in the Filtering Department in August under the first-in,first-out (FIFO)method?

Question

Quizplus · Accepted Answer

Under the FIFO method, equivalent units of production for transferred-in units are calculated by adding the units started and completed during the period (260 units) to the ending work-in-process inventory (30 units), resulting in 290 equivalent units.