Question
Exercise 6-23 (Algorithmic) WA & FIFO EUP On April 30, 2013, Leander Co. had 23,900 units in process that were 80 percent complete as to
Exercise 6-23 (Algorithmic)
WA & FIFO EUP
On April 30, 2013, Leander Co. had 23,900 units in process that were 80 percent complete as to material, 60 percent complete as to direct labor, and 40 percent complete as to overhead. During May, 547,700 units were started. The 14,500 units in ending inventory were 80 percent complete as to material, 35 percent complete as to direct labor, and 10 percent complete as to overhead.
a. Calculate the physical units to account for in May.
units
b. How many units were started and completed during May?
units
c. Determine May's EUP for each category using the weighted average method.
| Equivalent Units |
Direct Material (DM) | |
Direct Labor (DL) | |
Overhead (OH) |
d. Determine May's EUP for each category using the FIFO method.
| Equivalent Units |
Direct Material (DM) | |
Direct Labor (DL) | |
Overhead (OH) |
e. Reconcile your answers to parts (c) and (d).
| Equivalent Units | ||
| Weighted Average Method | Equivalent units in BI | FIFO Method |
Direct Material (DM) | |||
Direct Labor (DL) | |||
Overhead (OH) |
|
Step 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