Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

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

image text in transcribed
image text in transcribed
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 10,400 Units completed and transferred out 82,000 Units in process, July 31, 80% complete 15,500 * With respect to conversion costs. Required: 10.400 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 Total units to account for Units accounted for: Units completed and transferred out: Started and completed From beginning work in process 10,400 Units in ending work in process (80% complete) Total units accounted for 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 Conversion Materials Costs Units started and completed Add: Units in beginning work in process x Percentage to complete: 0 % 0 10,400 x % Add: Units in ending work in process * Percentage complete: 15,500 x 100 % 15,500 x % Equivalent units of output Feedback 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? equivalent units

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_2

Step: 3

blur-text-image_3

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

Accounting Ethics

Authors: Ronald F. Duska, Brenda Shay Duska, Kenneth Wm. Kury

3rd Edition

1119118786, 9781119118787

More Books

Students also viewed these Accounting questions

Question

3.2 Discuss the strategic importance of technology in HRM.

Answered: 1 week ago