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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
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:
- All materials are added at the beginning of the process.
- Beginning work in process had 73,600 units, 40 percent complete with respect to conversion costs.
- Ending work in process had 15,700 units, 35 percent complete with respect to conversion costs.
- Started in process, 90,600 units.
Required:
1. Prepare a physical flow schedule.
Heap Company | |
Physical Flow Schedule | |
Units to account for: | |
Total units to account for | |
Units accounted for: | |
Units completed and transferred out: | |
Total units accounted for |
2. Compute equivalent units using the weighted average method.
Weighted average method: | Equivalent Units |
Direct Materials | |
Conversion Costs |
3. Compute equivalent units using the FIFO method.
FIFO method: | Equivalent Units |
Direct Materials | |
Conversion Costs |
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