Richards Corporation uses the FIFO method of process costing. The following
information is available for October in its Fabricating Department:
Units:
Beginning Inventory: 80,000 units, 60% complete as to materials and 20%
complete as to conversion.
Units started and completed: 250,000.
Units completed and transferred out: 330,000.
Ending Inventory: 30,000 units, 40% complete as to materials and 10%
complete as to conversion.
Costs:
Costs in beginning Work in Process - Direct Materials: $37,200.
Costs in beginning Work in Process - Conversion: $79,700.
Costs incurred in October - Direct Materials: $646,800.
Costs incurred in October - Conversion: $919,300.
Calculate the equivalent units of materials.