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	510
Completion with respect to materials	78	%
Completion with respect to conversion	33	%
Units started into production during the month	153,600
Units completed and transferred out	153,610
Ending work in process:
Units in process	500
Completion with respect to materials	76	%
Completion with respect to conversion	29	%

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

Answer-

Particulars	Materials	Conversion
Equivalent units of production	153592	153587

Explanation-

MediSecure Inc.
Statment of Equivalent Production units
Under FIFO Method
Particluars	Input Units	Particulars	Output Units	Equivalent Production
				%	Materials	%	Conversion Costs
Opening Work in process	510	Opening Work in process	510	22	112	67	342
Units introduced	153600	Units completed (Transferred to next process) [153600 units-500 units]	153100	100	153100	100	153100
		Closing work in process	500	76	380	29	145
Total	154110		154110		153592		153587