Mobility, Inc Required:
Using the FIFO Method, Determine the Equivalent Units of System

question 29

Essay

Mobility, Inc. uses the FIFO method in its process costing system. The following data concern the operations of the company's first processing department, Shaping, for a recent month.
$\begin{array}{lc}\text { Work-in-process, beginning: }\\ \text { Units in process } & 500 \\\text { Percent complete with respect to materials } & 70 \% \\\text { Percent complete with respect to conversion } & 40 \% \\\text { Units started into production during the month } & 28,000 \\\text { Work-in-process, ending: } &\\\text { Units in process } & 100 \\\text { Percent complete with respect to materials } & 50 \% \\\text { Percent complete with respect to conversion } & 30 \%\end{array}$

Required:
Using the FIFO method, determine the equivalent units of production for materials and conversion costs.

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Definitions:

Consumer Buying

The purchasing activities of individuals and households for their personal use or consumption or to meet the collective needs of the household unit, such as a family or individual.

Organizational Buying

The decision-making process by which formal organizations establish the need for purchased products and services and identify, evaluate, and choose among alternative brands and suppliers.

Psychological Buying Needs

The emotional and mental reasons that motivate consumers to make a purchase, such as status, security, and self-esteem.

Personal Influences

The effects that individuals' personalities, preferences, and characteristics have on their decisions and behaviors.