Homework - Chapter 6 ebook Show Me How Weighted Average Method, FIFO Method, Physical Flow, Equivalent units Middetton Company manufactures a product that passes through two processes: Fabrication and Aserbly. The following information was obtained for the Fabrication Department for October a. All materials are added at the beginning of the process b. Beginning work in process had 50,400 units, 40 percent complete with respect to conversion costs c. Ending work in process had 19,700 units, 40 percent complete with respect to conversion costs d. Started in process, 94,300 units Required: 1. Prepare a physical flow schedule. Middelton Company Physical Flow Schedule Units to account for Total units to account for Units accounted for Units completed and transferred out: Previous Next USUM Units completed and transferred out: Total units accounted for 2. Compute equivalent units using the weighted average method Weighted average method: Equivalent Units Direct Materials Conversion Costs 3. Compute equivalent units using the FIFO method FIFO method: Equivalent Units Direct Materials Conversion Costs 4. Suppose that the cost of direct materials in beginning work in process is $613,900 and that the direct materials cost incurred for October is $751,300. With these changes, answer the following: a. What is the unit materials cost for the units in WIP? Round your answers to the nearest cent. Previous Next Check My Work Save and let Submit Assignment for a 4. Suppose that the cost of direct materials in beginning work in process is 5612,900 and that the direct materials cost incurred for October a $751,900 wen these tranges, answer the following a. What is the unit materials cost for the units in BWIP? Round your answers to the nearest cent. b. What is the unit materials cost for units produced in October Round your answers to the nearest cent. which methods should be used to answer the question Explain why the unit materials cost is not the same for weighted average and pro of the two urut calculations, uses only October costs and October output, so be used to calculate the unit materials cost for October when the contre changing from one period to the next, then the unit costs for FIFO and WA differ As part of your explanation, show that the weighted average unit cost for materials is the blend of the September unit matericost and the October un materials cost Because the weights are the of total equivalent units for each unit cost. c. Which data analytic types (descriptive, diagnostic, predictive, or prescriptive) apply for ta and abr Note: More than one data analytic type might apply. See shot2.5 and Ebt26 for a review of data analytic metrics) Calculating what the unit materials cost is for September is Identifying the method that should be used for calculating October's unit materials costs Explaining why the two unit costs differ and showing how the weighted Average method is a blend of IP and current costi
