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The Metlock Compary and The Bonita Company each started January with 230 units in beginning WIP Inventory; these units had already received 60% of their

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The Metlock Compary and The Bonita Company each started January with 230 units in beginning WIP Inventory; these units had already received 60% of their conversion costs. Both companies began another 2.050 units during January and ended the month with 130 units in ending WIP Inventory, Units in ending WIP Inventory had 80% of comversion costs by the end of January. The Metlock Company adds DM at the very beginning of the process. The Bonita Company adds DM when units are 75% complete for conversion costs. Corversion costs are added evenly throughout the process for both companies. (a) For The Metlock Company: complete Step 1 of the template to verify physical units and identify degree of completion under the (1) FIFO method and (2) weighted-average method. (1) FIFO Method-Metlock Company (2) Weighted-average method-Metlock Company (b)

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