2. To calculate equivalent units, weighted average counts prior-period output in BWIP as belonging to the current period. So all completed units are treated output of the current period. 3. FIFO treats the work (equivalent output) in BWIP as belonging to the prior period and only counts the work (equivalent output for each input) done this pe as part of this period's output. 4. Suppose that the cost of direct materials in beginning work in process is $564,100 and that the direct materials cost incurred for October is $757,300. With these changes, answer the following: a. What is the unit materials cost for the units in BWIP? Round your answers to the nearest cent. 0 b. What is the unit materials cost for units produced in October? Round your answers to the nearest cent. 7.20 Which method should be used to answer this question? Weighted Average Explain why the unit materials cost is not the same for weighted average and FIFO. of the two unit calculations, FIFO uses only October costs and October output, so it should When those costs are changing from one period to the next, then the unit costs for FIFO and WA will be used to calculate the unit materials cost for October differ. As part of your explanation, show that the weighted average unit cost for materials is the blend of the September unit materials cost and the October unit materials cost. Because the weights are the distribution of total equivalent units for each unit cost. c. Which data analytic types (descriptive, diagnostic, predictive, or prescriptive) apply for 4a and 4b? Note: More than one data analytic type might apply. (See Exhibit 2.5 and Exhibit 2.6 for a review of data analytic metrics.) Calculating what the unit materials cost is for September is diagnostic descriptive Identifying the method that should be used for calculating October's unit materials cost is Explaining why the two unit costs differ and showing how the Weighted Average method is a blend of BWIP and current cost is prescriptive