The Evanston plant of Fit$-$for$-$Life Foods Corporation produces low$-$fat salad dressing. The following data pertain to the year just ended.$\backslash$table$[[,$Units,$\backslash$table$[[$Direct Material$],[($Percentage of$],[$Completion$)]],\backslash$table$[[$Conversion$],[($Percentage of$],[$Completion$)]]],[$Work in process, January $1,20,000$ pound,$80\%,60\%$

 

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The Evanston plant of Fit-for-Life Foods Corporation produces low-fat salad dressing. The following data pertain to the year just ended. Work in process, January 1 Work in process, December 31 Units 20,000 pound 15,000 pound Direct Material (Percentage of Completion) 80% 70% Conversion (Percentage of Completion) 60% 30% During the year, the company started 120,000 pounds of material in production. Required: Prepare a schedule analyzing the physical flow of units and computing the equivalent units of both direct material and conversion for the year. Use weighted-average process costing. CALCULATION OF EQUIVALENT UNITS: FIT-FOR-LIFE FOODS CORPORATION Weighted-Average Method Work in process, January 1 Units started during the year Total units to account for Unit completed and transferred out during the year Work in process, December 31 Total units accounted for Total equivalent units Physical Units Percentage of Completion Direct Material Equivalent Units Conversion Direct Material Conversion % 60 % 0 100% 100 % % % 0 0 0 The Evanston plant of Fit-for-Life Foods Corporation produces low-fat salad dressing. The following data pertain to the year just ended. Work in process, January 1 Work in process, December 31 Units 20,000 pound 15,000 pound Direct Material (Percentage of Completion) 80% 70% Conversion (Percentage of Completion) 60% 30% During the year, the company started 120,000 pounds of material in production. Required: Prepare a schedule analyzing the physical flow of units and computing the equivalent units of both direct material and conversion for the year. Use weighted-average process costing. CALCULATION OF EQUIVALENT UNITS: FIT-FOR-LIFE FOODS CORPORATION Weighted-Average Method Work in process, January 1 Units started during the year Total units to account for Unit completed and transferred out during the year Work in process, December 31 Total units accounted for Total equivalent units Physical Units Percentage of Completion Direct Material Equivalent Units Conversion Direct Material Conversion % 60 % 0 100% 100 % % % 0 0 0

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