Question
In: Accounting
Weighted Average Method, Equivalent Units Goforth Company produces a product where all manufacturing inputs are applied...
Weighted Average Method, Equivalent Units
Goforth Company produces a product where all manufacturing inputs are applied uniformly. Goforth produced the following physical flow schedule for April:
| Units to account for: | |
| Units in BWIP (40% complete) | 300,000 |
| Units started | 660,000 |
| Total units to account for | 960,000 |
Units accounted for: |
|
| Units completed: | |
| From BWIP | 300,000 |
| Started and completed | 448,800 |
| 748,800 | |
| Units, EWIP (80% complete) | 211,200 |
| Total units accounted for | 960,000 |
Required:
Prepare a schedule of equivalent units using the weighted average method.
| Goforth Company | |
| Schedule of equivalent units | |
| (Weighted Average Method) | |
| Units completed | |
| Units in ending work in process x fraction complete: | |
| Equivalent units of output | |
Solutions
Expert Solution
Solution
| Goforth Company | |
| Schedule of equivalent units | |
| (Weighted Average Method) | |
| Units completed | 748800 |
| Units in ending work in process x fraction complete: 211200 x 80% | 168960 |
| Equivalent units of output | 917760 |
Working
| Statement of Equivalent Units(Weighted average) | |||||||
| Whole Units | Complete % | Equivalent units | |||||
| Transferred | 748,800 | 100% | 748,800.0 | ||||
| Closing WIP | 211,200 | 80% | 168,960.0 | ||||
| Total | 960,000 | Total | 917,760.0 | ||||
ekkarill92 answered 2 years agoRelated Solutions
Weighted Average Method, FIFO Method, Physical Flow, Equivalent Units Heap Company manufactures a product that passes...
Weighted Average Method, FIFO Method, Physical Flow, Equivalent
Units
Heap Company manufactures a product that passes through two
processes: Fabrication and Assembly. The following information was
obtained for the Fabrication Department for September:
All materials are added at the beginning of the process.
Beginning work in process had 70,400 units, 40 percent complete
with respect to conversion costs.
Ending work in process had 12,200 units, 25 percent complete with
respect to conversion costs.
Started in process, 96,600 units.
Required:
1....
Weighted Average Method, FIFO Method, Physical Flow, Equivalent Units Heap Company manufactures a product that passes...
Weighted Average Method, FIFO Method, Physical Flow, Equivalent
Units
Heap Company manufactures a product that passes through two
processes: Fabrication and Assembly. The following information was
obtained for the Fabrication Department for September:
All materials are added at the beginning of the process.
Beginning work in process had 71,200 units, 40 percent complete
with respect to conversion costs.
Ending work in process had 13,400 units, 20 percent complete
with respect to conversion costs.
Started in process, 101,200 units.
Required:
1....
Weighted Average Method, FIFO Method, Physical Flow, Equivalent Units Heap Company manufactures a product that passes...
Weighted Average Method, FIFO Method, Physical Flow, Equivalent
Units
Heap Company manufactures a product that passes through two
processes: Fabrication and Assembly. The following information was
obtained for the Fabrication Department for September:
All materials are added at the beginning of the process.
Beginning work in process had 74,900 units, 40 percent complete
with respect to conversion costs.
Ending work in process had 19,600 units, 35 percent complete
with respect to conversion costs.
Started in process, 109,100 units.
Required:
1....
Weighted Average Method, FIFO Method, Physical Flow, Equivalent Units Heap Company manufactures a product that passes...
Weighted Average Method, FIFO Method, Physical Flow, Equivalent
Units
Heap Company manufactures a product that passes through two
processes: Fabrication and Assembly. The following information was
obtained for the Fabrication Department for September:
All materials are added at the beginning of the process.
Beginning work in process had 73,600 units, 40 percent complete
with respect to conversion costs.
Ending work in process had 15,700 units, 35 percent complete
with respect to conversion costs.
Started in process, 90,600 units.
Required:
1....
Weighted Average Method, FIFO Method, Physical Flow, Equivalent Units Heap Company manufactures a product that passes...
Weighted Average Method, FIFO Method, Physical Flow, Equivalent
Units
Heap Company manufactures a product that passes through two
processes: Fabrication and Assembly. The following information was
obtained for the Fabrication Department for September:
All materials are added at the beginning of the process.
Beginning work in process had 90,300 units, 20 percent complete
with respect to conversion costs.
Ending work in process had 12,900 units, 20 percent complete
with respect to conversion costs.
Started in process, 98,200 units.
Required:
1....
Weighted Average Method, Equivalent Units, Unit Cost, Multiple Departments Fordman Company has a product that passes...
Weighted Average Method, Equivalent Units, Unit Cost, Multiple
Departments
Fordman Company has a product that passes through two processes:
Grinding and Polishing. During December, the Grinding Department
transferred 20,000 units to the Polishing Department. The cost of
the units transferred into the second department was $40,000.
Direct materials are added uniformly in the second process. Units
are measured the same way in both departments.
The second department (Polishing) had the following physical
flow schedule for December:
Units to account for:...
Weighted Average Method, Equivalent Units, Unit Cost, Multiple Departments Fordman Company has a product that passes...
Weighted Average Method, Equivalent Units, Unit Cost, Multiple
Departments
Fordman Company has a product that passes through two processes:
Grinding and Polishing. During December, the Grinding Department
transferred 20,000 units to the Polishing Department. The cost of
the units transferred into the second department was $40,000.
Direct materials are added uniformly in the second process. Units
are measured the same way in both departments.
The second department (Polishing) had the following physical
flow schedule for December:
Units to account for:...
Weighted Average Method, Equivalent Units, Unit Cost, Multiple Departments Fordman Company has a product that passes...
Weighted Average Method, Equivalent Units, Unit Cost, Multiple
Departments
Fordman Company has a product that passes through two processes:
Grinding and Polishing. During December, the Grinding Department
transferred 20,000 units to the Polishing Department. The cost of
the units transferred into the second department was $40,000.
Direct materials are added uniformly in the second process. Units
are measured the same way in both departments.
The second department (Polishing) had the following physical
flow schedule for December:
Units to account for:...
Cost Information and the Weighted Average Method Morrison Company had the equivalent units schedule and cost...
Cost Information and the Weighted Average Method
Morrison Company had the equivalent units schedule and cost
information for its Sewing Department for the month of December, as
shown below.
Direct
Materials
Conversion
Costs
Units completed
44,000
44,000
Add: Units in ending work in
process ×
Percentage
complete:
19,000 × 100% direct
materials
19,000
—
19,000 × 45% conversion
materials
—
8,550
Eqivalent units of output
63,000
52,550
Costs:
Work in process,
December 1:
Direct
materials...
Cost Information and the Weighted Average Method Morrison Company had the equivalent units schedule and cost...
Cost Information and the Weighted Average Method
Morrison Company had the equivalent units schedule and cost
information for its Sewing Department for the month of December, as
shown below.
Direct Materials
Conversion Costs
Units completed
48,000
48,000
Add: Units in ending work in process ×
Percentage complete:
17,000 × 100% direct
materials
17,000
—
17,000 × 40%
conversion materials
—
6,800
Eqivalent units of output
65,000
54,800
Costs:
Work in process,
December 1:
Direct
materials...
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