The following data have been provided by Corby Corporation for the Circuit Prep Department. The company uses the first-in, first-out method in its process costing.
Required:Determine the equivalent units of production for the Circuit Prep Department for August using the first-in, first-out method.

First-In, First-Out Method

An inventory valuation method where the oldest inventory items are recorded as sold first, leaving the newest inventory in stock.

Equivalent Units

A concept in process costing, used to convert partially completed units into a number of equivalent fully completed units to uniformly measure and assign costs.

Circuit Prep Department

A specialized section within an electronics manufacturing or repair facility where circuits are prepared or assembled.