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Glass Creations Ltd manufactures decorative glass products. The firm employs a process-costing system for its manufacturing operations. All direct materials are added at the beginning
Glass Creations Ltd manufactures decorative glass products. The firm employs a process-costing system for its manufacturing operations. All direct materials are added at the beginning of the process, and conversion costs are incurred uniformly throughout the process. The company's production quantity schedule for November follows:
3 45000 L Work in process, TUM Units started during the year Units completed during the year Work in process, 31 December E5.22 [LO1] [LO2) [L03] Equivalent units; FIFO and weighted average: manufacturer Glass Creations Ltd manufactures decorative glass bowls. The firm employs a process costing system for its manufacturing operations. All direct materials are added at the beginning of process and conversion costs are incurred uniformly throughout the process. The company's production quantity schedule for November follows: 2000 3500 5500 Units Work in process on 1 November (60% complete as to convers Units started during November 3% Total units to account for Units from beginning work in process, which were completed and transferred out during November Units started and completed during November Work in process on 30 November (20% complete as to conversion) Total units accounted for 2000 1800 1700 5500 Required: Calculate each of the following amounts: 1 Equivalent units of direct material during November. Use the FIFO method. Equivalent units of conversion during November. Use the FIFO method. 3 Equivalent units of direct material during November. Use the weighted average method. Fouivalent units of conversion during November. Use the weighted average method. E5.23 [LO2) Physical flow and equivalent units; weighted average: manufacturer Queenstown plant of Healthy Life Styles produces low fat salad dressina. The following relate to the year just ended: (CMA, adapted) essing. The following dataStep by Step Solution
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