Vare produces various inks at its Normanton factory. Production details for Process 1 are as
Opening work-in-progress, 1 April 400 units 60% complete
Closing work-in-progress, 30 April 600 units 20% complete
Units started 1,000
Units finished 800
The degree of completion quoted relates to labour and overhead costs. Three-quarters of
the materials are added at the start of the process and the remaining quarter added when
the process is 50% complete. The company uses the FIFO method of cost allocation.
What are the equivalent units of production for materials in the period?
Someone please tell me how to solve this problem, a trick will also be helpful..
You will find an answer here https://opentuition.com/topic/process-costing-9/