Equivalent Units, Unit Cost, Weighted Average Fino Linens Inc. manufactures bed and bath linens. The bath linens department sews terry cloth into towels of various sizes. Fino uses the weighted average method. All manufacturing costs are added uniformly through the process. The following data are for the bath linens department for August: 20,000 60,000 Production: Units in process, August 1, 60 percent complete Units completed and transferred out Units in process, August 31, 60 percent complete Costs: WIP, August 1 Current costs 20,000 $11,520 72,000 Total $83,520 Required: 1. Prepare a physical flow analysis for the bath linens department for August. 2. Calculate equivalent units of production for the bath linens department for August. equivalent units Bath Linens Department Physical Flow Analysis For the Month of August Units to account for: Units in beginning work in process 3. Calculate the unit cost for the bath linens department for August. Round your answer to the nearest cent. per unit 4. Calculate the per unit cost using the FIFO method. Round your answers to two decimal places, if necessary. Units started during the period Equivalent units in beginning work in process Prior-period unit cost Total units to account for Units accounted for: Units completed and transferred out: Started and completed FIFO equivalent units for materials FIFO unit cost From beginning work in process The weighted average unit cost Units in ending work in process Total units accounted for Equivalent Units, Unit Cost, Weighted Average Fino Linens Inc. manufactures bed and bath linens. The bath linens department sews terry cloth into towels of various sizes. Fino uses the weighted average method. All manufacturing costs are added uniformly through the process. The following data are for the bath linens department for August: 20,000 60,000 Production: Units in process, August 1, 60 percent complete Units completed and transferred out Units in process, August 31, 60 percent complete Costs: WIP, August 1 Current costs 20,000 $11,520 72,000 Total $83,520 Required: 1. Prepare a physical flow analysis for the bath linens department for August. 2. Calculate equivalent units of production for the bath linens department for August. equivalent units Bath Linens Department Physical Flow Analysis For the Month of August Units to account for: Units in beginning work in process 3. Calculate the unit cost for the bath linens department for August. Round your answer to the nearest cent. per unit 4. Calculate the per unit cost using the FIFO method. Round your answers to two decimal places, if necessary. Units started during the period Equivalent units in beginning work in process Prior-period unit cost Total units to account for Units accounted for: Units completed and transferred out: Started and completed FIFO equivalent units for materials FIFO unit cost From beginning work in process The weighted average unit cost Units in ending work in process Total units accounted for
