(a) Bioman Corporation produces chemical products. The following data are from the company's Mixing Department: Work in...
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Question:
(a) Bioman Corporation produces chemical products. The following data are from the company's Mixing Department:
Work in Process, beg. 800,000
Stage of Completion 30%
Units started in Process 700,000
Work in Process, end. 200,000
Stage of Completion 75%
Requirement: Compute for EUP of Materials and Conversion Costs using FIFO method and Weighted Average Method
- Assuming all materials are added at the start of the process and the conversion cost is applied evenly to the process.
- Assuming all materials are added at the end of the process and the conversion cost is applied evenly to the process
- Assuming Materials are added 20% at the start of the process, additional 30% when the process is 60% completed, additional 20% when the process is 80% completed and an additional 30% at the end of the process. Conversion Cost is applied evenly to the process
- Assuming Materials are added 30% at the start of the process, additional 40% when the process is 50% completed, and an additional 30% at the end of the process. Conversion cost is applied evenly to the process
- Assuming materials are added 50% at the start of the process, and the balance is added when the process is 80% completed. Conversion Cost is applied evenly to the process.
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