Question

UNITS:
beginning WIP inventory (20% complete as to CC)	5,000
units started	20,000
units completed and transferred out	15,000
ending WIP inventory (Mat 100%, CC 50% complete)	10,000
Costs:
beginning inventory
materials	$ 4,000
CC	$ 1,000
Current period:
materials	$ 16,000
CC	$ 4,000
All materials are added at the beginning of the process

Please show the calculations! doing it in excel!

1. What is your products equivalent units (EUP) for Mat & CC using weighted average? -->	Materials EUP = ?	CC EUP = ?
2. What is your products equivalent units (EUP) for Mat & CC using FIFO? -->	Materials EUP = ?	CC EUP = ?
3. What is your products cost per equivalent unit (EUP) for Mat & CC using weighted average? -->	Materials cost per EUP = ?	CC cost per EUP = ?
4. What is your products cost per equivalent unit (EUP) for Mat & CC using FIFO? -->	Materials cost per EUP = ?	CC cost per EUP = ?
5. What is your products cost of ending WIP inventory using weighted average? -->	End MAT cost in WIP = ?	End CC cost in WIP = ?
6. What is your products cost of ending WIP inventory using FIFO? -->	End MAT cost in WIP = ?	End CC cost in WIP = ?
Check figures:
	weighted average	FIFO
your products total cost (Mat & CC) per equivalent unit is:	$ 1.05	$ 1.01

Answer 1

Answer 1
Calculation of equivalent units using weighted average
	Physical Units	% Complete with respect to Materials	Materials EUP	% Complete with respect to Conversion	CC EUP
Units completed and transferred out	15000	100%	15000	100%	15000
Units in ending Inventory	10000	100%	10000	50%	5000
Equivalent Units			25000		20000
Answer 2
Calculation of equivalent units using FIFO
	Physical Units	% Complete with respect to Materials	Materials EUP	% Complete with respect to Conversion	CC EUP
Unit completed out of beginning Inventory	5000	0%	0	80%	4000
Units completed out of units started	10000	100%	10000	100%	10000
Units in ending Inventory	10000	100%	10000	50%	5000
Equivalent Units			20000		19000
Answer 3
Calculation of cost per equivalent unit using Weighted Average
		Materials	Conversion
Beginning Inventory		$4,000.00	$1,000.00
Cost added		$16,000.00	$4,000.00
Total Cost		$20,000.00	$5,000.00
/ Equivalent units as per Weighted average		25000	20000
Cost per equivalent unit		$0.80	$0.25
Answer 4
Calculation of cost per equivalent unit using FIFO
		Materials	Conversion
Cost added during the period		$16,000.00	$4,000.00
/ Equivalent units as per FIFO		20000	19000
Cost per equivalent unit		$0.80	$0.21
Answer 5
Cost of ending WIP using Weighted average
Material cost [10000 EU x $0.80]	$8,000.00
Conversion cost [5000 EU x $0.25]	$1,250.00
Cost of ending WIP using Weighted average	$9,250.00
Answer 6
Cost of ending WIP using FIFO
Material cost [10000 EU x $0.80]	$8,000.00
Conversion cost [5000 EU x $0.21]	$1,050.00
Cost of ending WIP using FIFO	$9,050.00