Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Wildhorse Inc. started the period with an opening Work-in-Progress (WIP) Inventory of 2250 units that were 100% complete with regard to Direct Materials (DM) and
Wildhorse Inc. started the period with an opening Work-in-Progress (WIP) Inventory of 2250 units that were 100% complete with regard to Direct Materials (DM) and 50% complete with regard to Conversion Costs (CC). During the period, the company started 7650 new units, and had completed and removed 7050 units from WIP inventory. 2850 units in ending inventory were 100% complete with respect to Direct Materials and 50% complete with respect to Conversion Costs. What will be the total equivalent units of Direct Materials if the First-In, First-Out (FIFO) method is used, and what would be the answer if the Weighted-Average method is used? 7050 for FIFO and 9900 for Weighted-Average 7650 for FIFO and 9900 for Weighted-Average 9900 for FIFO and 7650 for Weighted-Average 9900 for FIFO and 7050 for Weighted-Average
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started