Answered step by step
Verified Expert Solution
Question
1 Approved Answer
1. Weighted Average Method, Equivalent Units Bukavu Company produces a product where all manufacturing inputs are applied uniformly. Bukavu produced the following physical flow schedule
1.
Weighted Average Method, Equivalent Units Bukavu Company produces a product where all manufacturing inputs are applied uniformly. Bukavu produced the following physical flow schedule for April: Units to account for: Units in BWIP (40% complete) 350,000 Units started 660,000 Total units to account for 1,010,000 Units accounted for: Units completed: From BWIP 350,000 Started and completed 396,000 746,000 Units, EWIP (65% complete) 264,000 Total units accounted for 1,010,000 Required: Prepare a schedule of equivalent units using the weighted average method. Bukavu Company Schedule of equivalent units (Weighted Average Method) Units completed Units in ending work in process x fraction complete: Equivalent units of output iii Cassien Inc. manufactures products that pass through two or more processes. During June, equivalent units were computed using the weighted average method: Units completed 84,000 Units in EWIP X Fraction complete (36,000 X 60%) 21,600 Equivalent units of output 105,600 June's costs to account for are as follows: BWIP (10,000 units, 80% complete) $50,000 Materials 89,000 Conversion costs 57,000 Total $196,000 1. Calculate the unit cost for June using the weighted average method. Round your answer to the nearest cent. 34:] per unit 2. Using the weighted average method, determine the cost of EWIP and the cost of the goods transferred out. If required, round unit cost to the nearest cent in intermediate calculations and final answers to the nearest dollar. Cost of ending work in process $:] Cost of the goods transferred out $[:] Lawson Company produces a product where all manufacturing inputs are applied uniformly. Lawson produced the following physical flow schedule for March: Units to account for: Units in BWIP (40% complete) 13,000 Units started 37,000 Total units to account for 50,000 Units accounted for: Units completed: From BWIP 13,000 Started and completed 31,000 44,000 Units, EWIP (75% complete) 6,000 Total units accounted for 50,000 Prepare a schedule of equivalent units using the FIFO method. Lawson Company Schedule of equivalent units (FIFO method) Units started and completed Units in BWIP x fraction to be completed: Units in EWIP x fraction complete: Equivalent units of outputStep by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started