Response to the following problem:
Kimbeth Manufacturing makes Dust Density Sensors (DDS), safety device for the mining industry. The company uses a process costing system and has only a single processing department. The following information pertains to operations for the month of May: Units Beginning work-in-process inventory 16,000 Started into production during May 100,000 Completed during May 92,000 Ending work-in-process inventory 24,000 The beginning work-in-process inventory was 60% complete with respect to materials and 20% complete with respect to conversion costs. The ending work-in-process inventory was 90% complete with respect to materials and 40% complete with respect to conversion costs. The costs were as follows:
Beginning work-in-process inventory $ 54,560 $35,560
Costs incurred during May $468,000 $574,040
Using the FIFO method, what are the equivalent units of production for materials for May?