"Department H had 600 units, 60% completed, in process at the beginning of the period, 8,000 units were completed during the period, and 500 units were 30% completed at the end of the period, what was the number of equivalent units of production for the period if the first-in, first-out method is used to cost inventories

Total equivalent units  =7,790

Explanation:

Equivalent Units

To apportion cost between work in progress and completed units in a particular period, we use equivalent units. Equivalents units are notional whole units which represent incomplete work and are used to apportion cost between completed units and work in progress

Equivalent Units = Degree of Completion × Units of inventory

Under the first in first out(FIFO) method, to account for the units of work completed the opening inventory are separated and distinguished from the units newly introduced in the period.

Another principle under this method is that only the percentage of work  yet to be completed on the units of opening are done in the current period

Fully worked =8000 - 600 = 7400

The fully worked represents units of inventory started this current period and completed in the same period

Items                               Working s             Equivalent units

Opening inventory     =    600×  40%      = 240

Fully worked                     7,400× 100%  = 7400

Closing inventory         =   500×   30%  =   150

Total equivalent units                                7790

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