Labs, Inc., uses a process costing system. The following data are available for one department for October:
Percent Completed
Units
Materials
Conversion
Work in process, October 1 26,000 62% 26%
Work in process, October 31 16,000 84% 42%
The department started 166,000 units into production during the month and transferred 176,000 completed units to the next department.
Required:
Compute the equivalent units of production for October assuming that the company uses the FIFO method of accounting for units and costs.