29. (EUP; weighted average & FIFO; two departments) Jones Metals has two processing departments, Fabrication and Assembly.
Question:
29. (EUP; weighted average & FIFO; two departments) Jones Metals has two processing departments, Fabrication and Assembly. Metal is placed into production in the Fabrication Department, where it is cut, formed, or ground into various components. These components are transferred to Assembly, where they are welded, polished, and hot-dip galvanized with sealant. The production data follow for these two departments for March 2001:
a. Determine the equivalent units of production for each cost component for each department under the weighted average method.
b. Determine the equivalent units of production for each cost component for each department under the FIFO method.
Step by Step Answer:
Cost Accounting Traditions And Innovations
ISBN: 9780324180909
5th Edition
Authors: Jesse T. Barfield, Cecily A. Raiborn, Michael R. Kinney