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. are as follows: Production: 10,200 Units in process, July 1, 70% complete* Units completed and transferred out Units in process, July 31, 80% complete* 85,000 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 (70% complete) 10,200 Units started during July 90,700 100,900 Total units to account for Units accounted for: Units completed and transferred out: Started and completed 74,800 From beginning work in process 10,200 85,000 Units in ending work in process (80% complete 15,900 Total units accounted for 100,900 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 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 74,800 74,800 Add: Units in beginning work in process x Percentage to complete: 10,200 x 0 % 0 10,200 x 30 % 3,060 Add: Units in ending work in process x Percentage complete: 15,900 x 100% 15,900 15,900 x 80 % 12,720 Equivalent units of output 90,700 90,580 Feedback Check My Work 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 period's 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? 28,260 x equivalent units Feedback Check My Work Recalculate equivalent units of materials using revised percentages for beginning and ending work in process. Be sure to add units started and completed