Weighted Average Method, FIFO Method, Physical Flow, Equivalent Units Middelton Company manufactures a product that passes through two processes: Fabrication and Assembly. The following infor a. All materials are added at the beginning of the process. b. Beginning work in process had 85,800 units, 30 percent complete with respect to conversion costs. c. Ending work in process had 15,900 units, 40 percent complete with respect to conversion costs. d. Started in process, 93,700 units. Required: 1. Prepare a physical flow schedule. Feedback Check My Work 1. The physical flow schedule traces the units in process regardless of their stage of completion and provides the inforn 2. Compute equivalent units using the weighted average method. 3. Compute equivalent units using the FIFO method. a. What is the unit materials cost for the units in BWIP? Round your answers to the nearest cent. $ b. What is the unit materials cost for units produced in October? Round your answers to the nearest cent. $ Which method should be used to answer this question? Explain why the unit materials cost is not the same for weighted average and FIFO. the next, then the unit costs for FIFO and WA differ. As part of your explanation, show that the weighted average unit cost for materials is the blend of the September unit materials cost and the October unit materials cost. Because the weights are the of total equivalent units for each unit cost. metrics.) Calculating what the unit materials cost is for September is . Identifying the method that should be used for calculating October's unit materials cost is . Explaining why th two unit costs differ and showing how the Weighted Average method is a blend of BWIP and current cost is Weighted Average Method, FIFO Method, Physical Flow, Equivalent Units Middelton Company manufactures a product that passes through two processes: Fabrication and Assembly. The following infor a. All materials are added at the beginning of the process. b. Beginning work in process had 85,800 units, 30 percent complete with respect to conversion costs. c. Ending work in process had 15,900 units, 40 percent complete with respect to conversion costs. d. Started in process, 93,700 units. Required: 1. Prepare a physical flow schedule. Feedback Check My Work 1. The physical flow schedule traces the units in process regardless of their stage of completion and provides the inforn 2. Compute equivalent units using the weighted average method. 3. Compute equivalent units using the FIFO method. a. What is the unit materials cost for the units in BWIP? Round your answers to the nearest cent. $ b. What is the unit materials cost for units produced in October? Round your answers to the nearest cent. $ Which method should be used to answer this question? Explain why the unit materials cost is not the same for weighted average and FIFO. the next, then the unit costs for FIFO and WA differ. As part of your explanation, show that the weighted average unit cost for materials is the blend of the September unit materials cost and the October unit materials cost. Because the weights are the of total equivalent units for each unit cost. metrics.) Calculating what the unit materials cost is for September is . Identifying the method that should be used for calculating October's unit materials cost is . Explaining why th two unit costs differ and showing how the Weighted Average method is a blend of BWIP and current cost is
