Unit Information with BWIP, FIFO Method Jackson Products produces a barbeque sauce using three departments: Cooking, Mixing, and Bottling. In the Cooking Department, all materials are added at the beginning of the process. Output is measured in ounces. The production data for July are as follows: Production: Units in process, July 1, 60% complete* Units completed and transferred out 10,400 83,000 Units in process, July 31, 80% complete* 15,400 * With respect to conversion costs. 1. Prepare a physical flow schedule for July. Units to account for: Jackson Products Physical Flow Schedule For the Month of July Units, beginning work is process (60% complete) Units started during July Total units to account for Units accounted for: Units completed and transferred out: Started and completed From beginning work in process Units in ending work in process (80% complete) Total units accounted for 2. Prepare an equivalent units schedule for July using the FIFO method. Enter percentages as whole numbers. If an amount box does not require an entry, enter "0". Jackson Products Equivalent Units Schedule Direct Materials Conversion Costs Units started and completed Add: Units in beginning work in process x Percentage to complete: X % % Add: Units in ending work in process x Percentage complete: X x % % Equivalent units of output 3. What if 70 percent of the materials were added at the beginning of the process and 30 percent were added at the end of the process (all ingredients used are treated as the same type or category of materials)? How many equivalent units of materials would there be? equivalent units Weighted Average Method, FIFO Method, Physical Flow, Equivalent Units Middelton Company manufactures a product that passes through two processes: Fabrication and Assembly. The following information was obtained for the Fabrication Department for October: a. All materials are added at the beginning of the process. b. Beginning work in process had 87,400 units, 40 percent complete with respect to conversion costs. c. Ending work in process had 18,200 units, 25 percent complete with respect to conversion costs. d. Started in process, 102,800 units. 1. Prepare a physical flow schedule. Middelton Company Physical Flow Schedule Units to account for: Units, beginning work in process Units started Total units to account for Units accounted for: Units completed and transferred out: Started and completed From beginning work in process Units, ending work in process Total units accounted for 2. Compute equivalent units using the weighted average method. Weighted average method: Equivalent Units Direct Materials Conversion Costs 3. Compute equivalent units using the FIFO method. FIFO method: Direct Materials Conversion Costs Equivalent Units 4. Suppose that the cost of direct materials in beginning work in process is $638,800 and that the direct materials cost incurred for October is $794,100. With these changes, answer the following: a. What is the unit materials cost for the units in BWIP? Round your answers to the nearest cent. b. What is the unit materials cost for units produced in October? Round your answers to the nearest cent