The Following Data Have Been Provided by Brice Corporation for the 3-D

question 147

Essay

The following data have been provided by Brice Corporation for the 3-D Printing Department. The company uses the FIFO method in its process costing.
$\begin{array}{|l|r|}\hline \begin{array}{l}\text { Units in process, August } 1 \text { : materials } 60 \% \text { complete, conversion } 30 \% \\\text { complete }\end{array} & 900 \\\hline \text { Units started into production during August } & 8,400 \\\hline \text { Units started and completed during August } & 6,500 \\\hline \text { Units completed and transferred to the next department during August } & 7,400 \\\hline \begin{array}{l}\text { Units in process, August } 31 \text { : materials } 65 \% \text { complete, conversion } 25 \% \\\text { complete }\end{array} & 1,900 \\\hline\end{array}$

Required:
Determine the equivalent units of production for the 3-D Printing Department for August using the FIFO method.

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Definitions:

Exclusive Provider

A sole supplier of a particular product or service within a specific market or arrangement.

Unconscionable

Refers to actions or terms in a contract that are so unjust or overwhelmingly one-sided in favor of the party with more power that they are contrary to good conscience.

Market Price

The current price at which an asset or service can be bought or sold in a public market.

Output Contract

An agreement where one party commits to sell, and the other to buy, all of a particular producer's output, ensuring a market for the seller and supply for the buyer.