FITs mixing department had the following data for the month of July:
Production:
Units in process, July 1, 80% complete 20,000 gallons
Units completed and transferred out 60,000 gallons
Units in process, July 31, 25% complete 10,000 gallons
Costs:
Work in process, July 1 $ 3,525
Costs added during July $10,125
Required to show all calculation steps to
1. Calculate an output measure for July.
2. Assign costs to units transferred out and EWIP using the weighted average method.