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*	10,000
Units completed and transferred out	81,000
Units in process, July 31, 80% complete*	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)		fill in the blank 9564d803c07e016_2
Units started during July		fill in the blank 9564d803c07e016_4
Total units to account for		fill in the blank 9564d803c07e016_5
Units accounted for:
Units completed and transferred out:
Started and completed	fill in the blank 9564d803c07e016_7
From beginning work in process	fill in the blank 9564d803c07e016_9	fill in the blank 9564d803c07e016_10
Units in ending work in process (80% complete)		fill in the blank 9564d803c07e016_12
Total units accounted for		fill in the blank 9564d803c07e016_13

Feedback

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 "0".

Jackson Products Equivalent Units Schedule

	Direct Materials	Conversion Costs
Units started and completed	fill in the blank f1137a001ff4fd2_2	fill in the blank f1137a001ff4fd2_3
Add: Units in beginning work in process Percentage to complete:
fill in the blank f1137a001ff4fd2_4 x fill in the blank f1137a001ff4fd2_5 %	fill in the blank f1137a001ff4fd2_6
fill in the blank f1137a001ff4fd2_7 x fill in the blank f1137a001ff4fd2_8 %		fill in the blank f1137a001ff4fd2_9
Add: Units in ending work in process Percentage complete:
fill in the blank f1137a001ff4fd2_10 x fill in the blank f1137a001ff4fd2_11 %	fill in the blank f1137a001ff4fd2_12
fill in the blank f1137a001ff4fd2_13 x fill in the blank f1137a001ff4fd2_14 %		fill in the blank f1137a001ff4fd2_15
Equivalent units of output	fill in the blank f1137a001ff4fd2_17	fill in the blank f1137a001ff4fd2_18

Feedback

FIFO treats the work (equivalent output) in BWIP as belonging to the prior period and only counts the work (equivalent output for each input) done this period as part of this periods output.

3. What if 60 percent of the materials were added at the beginning of the process and 40 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? fill in the blank 79b4e7fbcfff065_1 equivalent units