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Sharp Corporation has a process costing system. The following data relate to the company's Mixing Department for a recent month: Conversion Percent Complete Units Beginning
Sharp Corporation has a process costing system. The following data relate to the company's Mixing Department for a recent month: Conversion Percent Complete Units Beginning work in process inventory Units started into production Units completed and transferred out Ending work in process inventory 65% 4,000 42,000 41,000 5,000 30% All materials 100% are added at the beginning of the Mixing process. Required: SHOW YOUR WORK as you calculate the following: 1) Compute the equivalent units of production for materials and conversion using the weighted-average method. 2) Compute the equivalent units of production for materials and conversion using the FIFO method
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