Bears, Inc., adds materials at the beginning of the process in Department MO. The following information on
Question:
Bears, Inc., adds materials at the beginning of the process in Department MO. The following information on physical units for Department MO for the month of July is available:
Work in process, July 1 (75% complete with respect to conversion) . . . . 27,000
Started in July . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 180,000
Completed . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 180,000
Work in process, July 30 (60% complete with respect to conversion) . . . 27,000
Required
a. Compute the equivalent units for materials costs and for conversion costs using the weighted-average method.
b. Compute the equivalent units for materials costs and for conversion costs using the FIFO method.
Step by Step Answer:
a Weightedaverage method Materials Conversion Costs Units transferred out 180000 180000 Equivalent u...View the full answer
Fundamentals of Cost Accounting
ISBN: 978-0077398194
3rd Edition
Authors: William Lanen, Shannon Anderson, Michael Maher
