Weighted Average Method, FIFO Method, Physical Flow, Equivalent Units Heap Company manufactures a product that passes through two processes: Fabrication and Assembly. The following information was obtained for the Fabrication Department for September: a. All materials are added at the beginning of the process. b. Beginning work in process had 74,300 units, 30 percent complete with respect to conversion costs. c. Ending work in process had 12,600 units, 25 percent complete with respect to conversion costs. d. Started in process, 92,000 units. Required: 1. Prepare a physical flow schedule. Heap Company Physical Flow Schedule Units to account for: Units, beginning work in process 74,300 Units started 92,000 Total units to account for 166,300 Units accounted for: Units completed and transferred out: Started and completed 79,400 From beginning work in process 74,300 Units, ending work in process 12,600 Total units accounted for 166,300 Feedback Check My Work 1. 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. 2. Compute equivalent units using the weighted average method. Weighted average method: Equivalent Units Direct Materials 163,600 x Conversion Costs 150,550 X 3. Compute equivalent units using the FIFO method. FIFO method: Equivalent Units Direct Materials 92,000 Conversion Costs