Beginning work in progress is 4,750 units; 63,900 units completed, and ending work in progress is...

Beginning work in progress is 4,750 units; 63,900 units completed, and ending work in progress is 6,600 units, which are 100% complete for direct materials and 50% complete for conversion costs. The beginning WIP inventory is 100% complete for direct materials and 50% complete for conversion.

What are the equivelant units for materials and conversion using weighted average method?

What are the equivalent units for materials and conversion using FIFO method?

Expert Solution

As per weighted average method,
					Materials		Conversion
	Equivalent units				70,500	Units	67,200	Units

Working:
	Equivalent units of:

	Materials	=	Units completed + (Ending units*% of completion
		=		63900+(6600*100%)
		=		70,500	Units


	Conversion	=	Units completed + (Ending units*% of completion
		=		63900+(6600*50%)
		=		67,200	Units


As per FIFO method,
					Materials		Conversion
	Equivalent units				65,750	Units	64,825	Units

Working:
# 1:	Units completed				63,900
	Ending units in process				6,600
	Total units to be accounted for				70,500
	Less: Beginning units in process				4,750

	Units started during the period				65,750

# 2:	Total units completed				63,900
	Less:Units in beginning in process				4,750
	Units started and completed of current period				59,150



	Equivalent units of:

	Materials	=	(4750(1-100%))+(59150100%)+(6600*100%)
		=	65,750	Units



	Conversion	=	(4750(1-50%))+(59150100%)+(6600*50%)
		=	64,825	Units

ekkarill92 answered 3 months ago

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