Exercise 20-4 Weighted average: Computing equivalent units c20 A production department in a process manufacturing system completed its work on 80,000 units of product and transferred them to the next department during a recent period. Of these units, 24.000 were in process at the beginning of the period. The other 56,000 units were started and completed during the period. At period- end, 16,000 units were in process. Compute the production department's equivalent units of production for direct materials under each of three separate assumptions using the weighted-average method: 1. All direct materials are added to products when processing begins. 2. Beginning inventory is 40% complete as to materials and conversion costs. Ending inventory is 75% complete as to materials and conversion costs. 3. Beginning inventory is 60% complete as to materials and 40% complete as to conversion costs. Ending inventory is 30% complete as to materials and 60% complete as to conversion costs. Exercise 20-4 Weighted average: Computing equivalent units c20 A production department in a process manufacturing system complded its work on 80,000 units of product and transferred them to the next department during a recent period of these units, 24,000 were in process at the beginning of the period. The other 56,000 units were started and completed during the period. At period- end, 16,000 units were in process. Compute the production department's equivalent units of production for direct materials under each of three separate assumptions using the weighted-average method: 1. All direct materials are added to products when processing begins. 2. Beginning inventory is 40% complete as to materials and conversion costs. Ending inventory is 75% complete as to materials and conversion costs. 3. Beginning inventory is 60% complete as to materials and 40% complete as to conversion costs. Ending inventory is 30% complete as to materials and 60% complete as to conversion costs. Exercise 20-5A FIFO: Computing equivalent units @ C4 Refer to the information in Exercise 20-4 and complete the requirements for each of the three separate assumptions using the FIFO method for process costing