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Equivalent Units, Unit Cost, Valuation of Goods Transferred Out and Ending Work in Process The blending department had the following data for the month of
Equivalent Units, Unit Cost, Valuation of Goods Transferred Out and Ending Work in Process The blending department had the following data for the month of March: Units in BWIP Units completed 21,600 Units in EWIP (20% complete) 2,250 Total manufacturing costs $92,610 Required: 1. What is the output in equivalent units for March? equivalent units 2. What is the unit manufacturing cost for March? Note: Round your answer to the nearest cent. per unit 3. Compute the cost of goods transferred out for March. 4. Calculate the value of March's EWIP. Weighted Average Method, Equivalent Units Goforth Company produces a product where all manufacturing inputs are applied uniformly. Goforth produced the following physical flow schedule for April: Units to account for: Units in BWIP (40% complete) 290,000 Units started 400,000 Total units to account for 690,000 Units accounted for: Units completed: From BWIP 290,000 Started and completed 256,000 546,000 Units, EWIP (55% complete) 144,000 Total units accounted for 690,000 Required: Prepare a schedule of equivalent units using the weighted average method. Required: Prepare a schedule of equivalent units using the weighted average method. Goforth Company Schedule of equivalent units (Weighted Average Method) Units completed Units in ending work in process x fraction complete: Equivalent units of output
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