Unit Information with BWIP, FIFO Method Jackson Products produces a barbeque sauce using three departments: Cooking, Mixing, and Bottling. In the Cooking Department, all materials are added at the beginning of the process. Output is measured in ounces. The production data for July are as follows: Production: Units in process, July 1, 60% complete* 10,300 Units completed and transferred out 89,000 Units in process, July 31, 80% complete* 15,900 * With respect to conversion costs.

Unit Information with BWIP, FIFO Method Jackson Products produces a barbeque sauce using three departments: Cooking, Mixing, and Bottling. In the Cooking Department, all materials are added at the beginning of the process. Output is measured in ounces. The production data for July are as follows: 10,300 Production: Units in process, July 1, 60% complete Units completed and transferred out Units in process, July 31, 80% complete* 89,000 15,900 * With respect to conversion costs. Required: 1. Prepare a physical flow schedule for July. Jackson Products Physical Flow Schedule For the Month of July Units to account for: Units, beginning work is process (60% complete) Units started during July 10,400 X 93,800 104,200 Total units to account for Units accounted for: Units completed and transferred out: Started and completed 78,600 X 10,400 x 89,000 From beginning work in process Units in ending work in process (80% complete) 15,200 X Total units accounted for 104,200 1. Prepare a physical flow schedule for July. Jackson Products Physical Flow Schedule For the Month of July Units to account for: Units, beginning work is process (60% complete) Units started during July 10,400 X 93,800 x 104,200 X Total units to account for Units accounted for: Units completed and transferred out: Started and completed From beginning work in process 78,600 x 10,400 x 89,000 Units in ending work in process (80% complete) 15,200 X Total units accounted for 104,200 x Feedback Check My Work The physical flow schedule traces the units in process regardless of their stage of completion and provides the information needed for preparing the equivalent units schedule. FIFO uses only current output to calculate the current-period unit cost. 2. Prepare an equivalent units schedule for July using the FIFO method. Enter percentages as whole numbers. If an amount box does not require an entry, enter "O". Jackson Products Equivalent Units Schedule Direct Materials Conversion Costs Units started and completed 78,600 X 78,600 x Add: Units in beginning work in process x Percentage to complete: % 3,120 X Add: Units in ending work in process * Percentage complete: % 15,200 X % % 13,680 93,800 x 95,400 X 3. What if 70 percent of the materials were added at the beginning of the process and 30 percent were added at the end of the process (all ingredients used are treated as the same type or category of materials)? How many equivalent units of materials would there be? 91,880 X equivalent units Feedback Check My Work See Cornerstone 6.7 Feedback Check My Work Partially correct