Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

solve all of them please. Q2. The production of the firm's antihistamine product begins in the Blending Department. All materials are added at the beginning

image text in transcribed

solve all of them please.

Q2. The production of the firm's antihistamine product begins in the Blending Department. All materials are added at the beginning of the blending process. Output is measured in ounces. The production data for May are as shown: Production: Units in process, May 1, 70% complete 15,000 Units completed and transferred out 90,000 Units in process, May 31, 40% complete 30,000 With respect to conversion costs. 1,500 525 Costs: Work in process, May 1: Direct materials Conversion costs Total work in process Current Costs: Direct materials Conversion costs Total current costs 2,025 18,900 4,575 23,475 Requirements: 1. Prepare a physical flow schedule for May. 2. Prepare an equivalent units schedule for May using weighted average costing method 3. Calculate the unit cost for May, using weighted average costing method. 4. Calculate the cost of goods transferred out and the cost of EWIP. 5. Calculate the FIFO equivalent units starting with the weighted average equivalent unit

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Practical Steps To Forensic Auditing And Fraud Investigation

Authors: Enape Victoria Ayishetu

1st Edition

1669867048, 978-1669867043

More Books

Students also viewed these Accounting questions