Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Unit Information with BWIP, Weighted Average Method Jackson Products produces a barbeque sauce using three departments: Cooking, Mixing, and Bottling. In the Cooking Department, all

Unit Information with BWIP, Weighted Average 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, 70% complete* 10,800 Units completed and transferred out 88,000 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: Total units to account for Units accounted for: Units completed and transferred out: Total units accounted for 2. Prepare an equivalent units schedule for July using the weighted average method. Enter percentages as whole numbers. Jackson Products Equivalent Units Schedule Direct Materials Conversion Costs Units completed Add: Units in ending work in process Percentage complete: x % x % Equivalent units of output 3. What if you were asked to calculate the FIFO units beginning with the weighted average equivalent units? Calculate the weighted average equivalent units by subtracting out the prior-period output found in BWIP. FIFO Equivalent Units Direct Materials Conversion Costs

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

Step: 3

blur-text-image

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

A Non-Technical Guide To International Accounting

Authors: Roger Hussey, Audra Ong

1st Edition

1946646865, 9781946646866

More Books

Students also viewed these Accounting questions

Question

Where does managerial human capital fit into a VRIO framework?

Answered: 1 week ago