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Unformatted text preview: In computing equivalent units, the beginning work in process is not part of the equivalent-units-of-production formula. FIFO Method Using the FIFO method, equivalent units are the sum of the work performed to: 1. Finish the units of beginning work in process inventory 2. Complete the units started into production during the period (referred to as the units started and completed).---Transfer out-- Beg WIP 3. Start, but only partially complete, the units in the ending work in process inventory....
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This note was uploaded on 05/09/2011 for the course BUSI 101 taught by Professor Dj during the Spring '11 term at University of North Carolina School of the Arts.
- Spring '11
- Managerial Accounting