Elmo has the following information for the month of October, its first month
of operations
Work in Progress October 0
Units completed and transferred in october 120,000
Work in process October 30
32,000
100% completed for matrials
80% completed for conversion costs
Costs added in October
Materials $145,900
Direct Labor $96,000
Overheads $108,000
Required
a) Determine the equivalent units of production for October.
b) Determine the cost of the ending work-in-process.
c) Determine the cost of goods completed.
d) What is meant by the term equivalent full units?