Unit Information with BWIP, FIFO Method Jackson Products produces a barbeque sauce using three departments: Cooking,...

Units in process, July 1, 60% complete* 10,000

Units completed and transferred out 80,000

Units in process, July 31, 80% complete* 15,000

*With respect to conversion costs.

Required: 1. Prepare a physical flow schedule for July.

2. Prepare an equivalent units schedule for July using the FIFO method. Enter percentages as whole numbers. If an amount box does not require an entry, enter "0".

3. What if 60 percent of the materials were added at the beginning of the process and 40 percent were added at the end of the process (all ingredients used are treated as the same type or category of materials)? How many equivalent units of materials would there be?

Solutions

Expert Solution

Answer-

Solution 1:

Reconciliation of Physical units
Particulars	Physical Units	Particulars	Physical Units
Beginning units	10000	Unit Completed	80000
Unit started	85000	Ending Units	15000
Total Units	95000	Total Units	95000

Solution 2:

Jackson Products
Cooking Department
Computation of Equivalent unit (FIFO)
Particulars	Physical units	Material	Conversion
Units to be accounted for:
Beginning WIP Inventory	10000
Units started this period	85000
Total unit to be accounted for	95000
Units Accounted for:
Units completed and transferred out
From beginning inventory Material - 0% Conversion - 40%	10000	0	4000
Started and completed currently	70000	70000	70000
Transferred to finished goods	80000	70000	74000
Units in ending WIP Material - 100% Conversion - 80%	15000	15000	12000
Total units accounted for	95000	85000	86000

Solution 3:

Jackson Products
Cooking Department
Computation of Equivalent unit (FIFO)
Particulars	Physical units	Material	Conversion
Units to be accounted for:
Beginning WIP Inventory	10000
Units started this period	85000
Total unit to be accounted for	95000
Units Accounted for:
Units completed and transferred out
From beginning inventory Material - 40% Conversion - 40%	10000	4000	4000
Started and completed currently	70000	70000	70000
Transferred to finished goods	80000	74000	74000
Units in ending WIP Material - 60% Conversion - 80%	15000	9000	12000
Total units accounted for	95000	83000	86000

ekkarill92 answered 2 years ago

Next > < Previous

Related Solutions

Unit Information with BWIP, FIFO Method Jackson Products produces a barbeque sauce using three departments: Cooking,...

Unit Information with BWIP, FIFO Method Jackson Products produces a barbeque sauce using three departments: Cooking, Mixing, and Bottling. In the Cooking Department, all materials are added at the beginning of the process. Output is measured in ounces. The production data for July are as follows: Production: Units in process, July 1, 60% complete* 11,000 Units completed and transferred out 81,000 Units in process, July 31, 90% complete* 15,700 * With respect to conversion costs. Required: 1. Prepare a physical...

Unit Information with BWIP, FIFO Method Jackson Products produces a barbeque sauce using three departments: Cooking,...

Unit Information with BWIP, FIFO Method Jackson Products produces a barbeque sauce using three departments: Cooking, Mixing, and Bottling. In the Cooking Department, all materials are added at the beginning of the process. Output is measured in ounces. The production data for July are as follows: Production: Units in process, July 1, 60% complete* 10,000 Units completed and transferred out 82,000 Units in process, July 31, 90% complete* 15,900 * With respect to conversion costs. Required: 1. Prepare a physical...

Unit Information with BWIP, FIFO Method Jackson Products produces a barbeque sauce using three departments: Cooking,...

Unit Information with BWIP, FIFO Method Jackson Products produces a barbeque sauce using three departments: Cooking, Mixing, and Bottling. In the Cooking Department, all materials are added at the beginning of the process. Output is measured in ounces. The production data for July are as follows: Production: Units in process, July 1, 70% complete* 10,100 Units completed and transferred out 81,000 Units in process, July 31, 90% complete* 15,600 * With respect to conversion costs. Required: 1. Prepare a physical...

Unit Information with BWIP, Weighted Average Method Jackson Products produces a barbeque sauce using three departments:...

Unit Information with BWIP, Weighted Average Method Jackson Products produces a barbeque sauce using three departments: Cooking, Mixing, and Bottling. In the Cooking Department, all materials are added at the beginning of the process. Output is measured in ounces. The production data for July are as follows: Production: Units in process, July 1, 60% complete* 10,300 Units completed and transferred out 87,000 Units in process, July 31, 90% complete* 15,200 * With respect to conversion costs. Required: 1. Prepare a...

Jackson Products produces a barbeque sauce using three departments: Cooking, Mixing, and Bottling. In the Cooking...

Jackson Products produces a barbeque sauce using three departments: Cooking, Mixing, and Bottling. In the Cooking Department, all materials are added at the beginning of the process. Output is measured in ounces. The production data for July are as follows: Production: Units in process, July 1, 70% complete* 10,000 Units completed and transferred out 81,000 Units in process, July 31, 80% complete* 15,000 * With respect to conversion costs. 1. Prepare a physical flow schedule for July. 2. Prepare an...

Weston Products manufactures an industrial cleaning compound that goes through three processing departments—Grinding, Mixing, and Cooking....

Weston Products manufactures an industrial cleaning compound that goes through three processing departments—Grinding, Mixing, and Cooking. All raw materials are introduced at the start of work in the Grinding Department. The Work in Process T-account for the Grinding Department for May is given below: Work in Process—Grinding Department Inventory, May 1 451,950 Completed and transferred to the Mixing Department ? Materials 570,560 Conversion 296,232 Inventory, May 31 ? The May 1 work in process inventory consisted of 131,000 pounds with...

Weston Products manufactures an industrial cleaning compound that goes through three processing departments—Grinding, Mixing, and Cooking....

Weston Products manufactures an industrial cleaning compound that goes through three processing departments—Grinding, Mixing, and Cooking. All raw materials are introduced at the start of work in the Grinding Department. The Work in Process T-account for the Grinding Department for May is given below: Work in Process—Grinding Department Inventory, May 1 281,600 Completed and transferred to the Mixing Department ? Materials 680,600 Conversion 503,280 Inventory, May 31 ? The May 1 work in process inventory consisted of 80,000 pounds with...

Weston Products manufactures an industrial cleaning compound that goes through three processing departments—Grinding, Mixing, and Cooking....

Weston Products manufactures an industrial cleaning compound that goes through three processing departments—Grinding, Mixing, and Cooking. All raw materials are introduced at the start of work in the Grinding Department. The Work in Process T-account for the Grinding Department for May is given below: Work in Process—Grinding Department Inventory, May 1 21,800 Completed and transferred to the Mixing Department ? Materials 133,400 Conversion 225,500 Inventory, May 31 ? The May 1 work in process inventory consisted of 18,000 pounds with...

Weston Products manufactures an industrial cleaning compound that goes through three processing departments—Grinding, Mixing, and Cooking....

Weston Products manufactures an industrial cleaning compound that goes through three processing departments—Grinding, Mixing, and Cooking. All raw materials are introduced at the start of work in the Grinding Department. The Work in Process T-account for the Grinding Department for May is given below: Work in Process—Grinding Department Inventory, May 1 21,800 Completed and transferred to the Mixing Department ? Materials 133,400 Conversion 225,500 Inventory, May 31 ? The May 1 work in process inventory consisted of 18,000 pounds with...

Weston Products manufactures an industrial cleaning compound that goes through three processing departments—Grinding, Mixing, and Cooking....

Weston Products manufactures an industrial cleaning compound that goes through three processing departments—Grinding, Mixing, and Cooking. All raw materials are introduced at the start of work in the Grinding Department. The Work in Process T-account for the Grinding Department for May is given below: Work in Process—Grinding Department Inventory, May 1 184,800 Completed and transferred to the Mixing Department ? Materials 486,300 Conversion 157,092 Inventory, May 31 ? The May 1 work in process inventory consisted of 120,000 pounds with...

Subjects