FIFO WEIGHTED AVERAGE METHODS (MUST SHOW CALCULATIONS NO CALCULATIONS NO CREDIT) PROBLEM The Cutting Department uses process costing Data are as follows Jan 1 (beginning inventory of WIP) 20,000 units Units started during the year 45,000 units Units completed and transferred to finished goods 60,000 units Materials are added at the beginning of the process The work in process, JAN 1 was 80 completed as to conversion costs The work in process, DEC 31 was 70 completed as to conversion costs Compute equivalent units for direct materials and conversion costs using the FIFO METHOD Compute equivalent units for direct materials and conversion costs using the WEIGHTED AVERAGE METHOD FIFO WEIGHTED AVERAGE METHODS (MUST SHOW CALCULATIONS NO CALCULATIONS NO CREDIT) PROBLEM The Cutting Department uses process costing Data are as follows Jan 1 (beginning inventory of WIP) 20,000 units Units started during the year 45,000 units Units completed and transferred to finished goods 60,000 units Materials are added at the beginning of the process The work in process, JAN 1 was 80 completed as to conversion costs The work in process, DEC 31 was 70 completed as to conversion costs Compute equivalent units for direct materials and conversion costs using the FIFO METHOD Compute equivalent units for direct materials and conversion costs using the WEIGHTED AVERAGE METHOD

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Question: FIFO & WEIGHTED- AVERAGE METHODS (MUST SHOW CALCULATIONS; NO CALCULATIONS NO CREDIT) PROBLEM: The Cutting Department uses process costing. Data are as follows: Jan 1

FIFO & WEIGHTED- AVERAGE METHODS (MUST SHOW CALCULATIONS; NO CALCULATIONS NO CREDIT)

PROBLEM:The Cutting Department uses process costing. Data are as follows:

Jan 1 (beginning inventory of WIP) 20,000 units

Units started during the year 45,000 units

Units completed and transferred to finished goods 60,000 units

Materials are added at the beginning of the process.

The work in process, JAN.1 was 80% completed as to conversion costs.

The work in process, DEC.31 was 70% completed as to conversion costs.

Compute equivalent units for direct materials and conversion costs using the FIFO METHOD:

Compute equivalent units for direct materials and conversion costs using the WEIGHTED AVERAGE METHOD:

FIFO & WEIGHTED- AVERAGE METHODS (MUST SHOW CALCULATIONS; NO CALCULATIONS NO CREDIT)

PROBLEM:The Cutting Department uses process costing. Data are as follows:

Jan 1 (beginning inventory of WIP) 20,000 units

Units started during the year 45,000 units

Units completed and transferred to finished goods 60,000 units

Materials are added at the beginning of the process.

The work in process, JAN.1 was 80% completed as to conversion costs.

The work in process, DEC.31 was 70% completed as to conversion costs.

Compute equivalent units for direct materials and conversion costs using the FIFO METHOD:

Compute equivalent units for direct materials and conversion costs using the WEIGHTED AVERAGE METHOD:

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