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I do not understand how to do this, my professor has posted multiple videos but they aren't clear, Can you please provide clear steps. Problem
I do not understand how to do this, my professor has posted multiple videos but they aren't clear, Can you please provide clear steps.
Problem 2: Overton Company has gathered the following information: Units Materials Conversion Beginning WIP 14,200 100% 60% Units Started 189,000 Units Completed and transferred out 179,700 Ending WIP 23,500 100% 45% Costs: Materials Conversion Total WIP $ 23,540.00 $ 35,400.00 $ 58,940.00 Costs Added during period $ 226,396.00 $ 297,581.25 $ 523,977.25 Requirements: 1. Complete the following using Weighted Average Method of Process Costing: a. Complete Flow of units reconciliation b. Compute Equivalent Units of Production c. Compute Cost per EUP d. Allocate Costs 2. Complete the following using FIFO Method of Process Costing: a. Complete Flow of units reconciliation b. Compute Equivalent Units of Production c. Compute Cost per EUP 1. Complete the following using Weighted Average Method of Process Costing: a. Complete Flow of units reconciliation b. Compute Equivalent Units of Production c. Compute Cost per EUP d. Allocate Costs 2. Complete the following using FIFO Method of Process Costing: a. Complete Flow of units reconciliation b. Compute Equivalent Units of Production C. Compute Cost per EUP d. Allocate CostsStep by Step Solution
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