In manufacturing its products, Russell 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. September production information is as follows:

As of June 1 , the beginning WIP Inventory was 30 percent complete as to labor and overhead. On June 30, the ending WIP Inventory was 80 percent complete as to conversion.

a. Compute equivalent units of production using the weighted average method of process costing showing two alternative calculations.

b. Compute equivalent units of production using the FIFO method of process costing showing two alternative calculations.

Transcribed Image Text:

Beginning WIP Inventory. Started during September Completed during September. 10,000 units 25,000 units 32,000 units