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Pierce & Company provides the following information concerning the work in process at its plant:...

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Accounting

Pierce & Company provides the following information concerning the work in process at its plant:

  • Beginning inventory was partially complete (materials are 100 percent complete; conversion costs are 60 percent complete).
  • Started this month, 59,900 units.
  • Transferred out, 50,800 units.
  • Ending inventory, 18,600 units (materials are 100 percent complete; conversion costs are 14 percent complete).

Required:

a. Compute the equivalent units for materials using FIFO.

b. Compute the equivalent units for conversion costs using FIFO

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