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Show the equivalent units for materials and conversion costs if Waterways used FIFO instead of weighted-average. please show me how you did the calculations! Waterways
Show the equivalent units for materials and conversion costs if Waterways used FIFO instead of weighted-average. please show me how you did the calculations!
Waterways Problem 03 Because most of the parts for its irrigation systems are standard, Waterways handles the majority of its manufacturing as a process cost system. There are multiple process departments. Three of these departments are the Molding, Cutting, and Welding departments. All items eventually end up in the Packaging Department, which prepares items for sale in kits or individually. The following information is available for the Molding department for January. 21,400 80% Work in process beginning: Units in process Stage of completion for materials Stage of completion for labor and overhead Costs in work in process inventory: Materials 30% Labor $167,480 67,400 17,260 $252,140 Overhead Total costs in beginning work in process 59,600 57,800 Units started into production in January Units completed and transferred in January Costs added to production: Materials Labor $276,680 275,910 60,270 $612,860 Overhead Total costs added into production in January Work in process ending: Units in process Stage of completion for materials Stage of completion for labor and overhead 23,200 50% 10% Your answer is partially correct. Try again. Show the equivalent units for materials and conversion costs if Waterways used FIFO instead of weighted-average. Equivalent Units Physical Units Materials Conversion Units accounted for Completed and transferred out Work in process, Jan. 1 21400 Started and completed in Jan. 36400 Work in process, Jan. 31 23200 11600 2320 Total units 81000 Click if you would like to Show Work for this question: Open Show WorkStep by Step Solution
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