Beginning work in process consisted of 4,300 units that were 100% complete with respect to direct materials and 40% complete with respect to conversion. Of the 28,700 units transferred out, 4,300 were from beginning work in process. The remaining 24,400 were units started and completed during May. Assume that Tamar uses the FIFO method to account for its process costing system. Required:
What are the equivalent units for direct materials?

Tri fecta, a partnership, had revenues of $369,000 in its first year of operations. the partnership has not collected on $45,000 of its sales and still owes $39,500 on $155,000 of merchandise it purchased. there was no inventory on hand at the end of the year. the partnership paid $27,000 in salaries. the partners invested $48,000 in the business and $23,000 was borrowed on a five-year note. the partnership paid $2,070 in interest that was the amount owed for the year and paid $9,500 for a two-year insurance policy on the first day of business. compute net income for the first year for tri fecta.