In manufacturing its products, Fritz Corp. adds all direct material at the beginning of the production process.
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In manufacturing its products, Fritz Corp. adds all direct material at the beginning of the production process. The company's direct labor and overhead are considered to be continuously at the same degree of completion. May production information is as follows:
As of May 1, the beginning WIP Inventory was 45 percent complete as to labor and overhead. On May 31, the ending WIP Inventory was 65 percent complete as to conversion.
a. Compute equivalent units of production using the weighted average method of process costing
b. Compute equivalent units of production using the FIFO method of process costing showing two alternative calculations.
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ISBN: 9781618533531
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