Tomlinson corporation is a biotech company based in Milpitas. It makes a cancer- treatment drub in a single processing department. Direct materials are added ad the start of the process. Conversion costs are added evenly during the process. Tominson uses the weighted average method of process costing. The following information for july 2014 is available

Summarize Output in Physical Units and Compute Output in Equivalent Units;

FIFO Method of Process Costing, Tomlison Corporation for July 2014

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Work in process, July 1 Started during July Completed and transferred out during July Work in process, July 31 Physical Units 8,700² Total Costs for July 2014 Work in process, beginning Direct materials Conversion costs Direct materials added during July Conversion costs added during July Total costs to account for 34,500 32,000 11,200⁰ *Degree of completion: direct materials, 100%; conversion costs, 25%. "Degree of completion: direct materials, 100%; conversion costs, 70%. Equivalent Units Direct Materials 8,700 32,000 11,200 $61,500 43,200 $104,700 301,380 498,624 $904,704 Conversion Costs 2,175 32,000 7,840 Work in process, July 1 Started during July Completed and transferred out during July Work in process, July 31 Physical Units 8,700² Total Costs for July 2014 Work in process, beginning Direct materials Conversion costs Direct materials added during July Conversion costs added during July Total costs to account for 34,500 32,000 11,200⁰ *Degree of completion: direct materials, 100%; conversion costs, 25%. "Degree of completion: direct materials, 100%; conversion costs, 70%. Equivalent Units Direct Materials 8,700 32,000 11,200 $61,500 43,200 $104,700 301,380 498,624 $904,704 Conversion Costs 2,175 32,000 7,840

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Tomlison Corporation All Amounts in Month July 2014 Output in Physical Units Opening WI... View the full answer