Weighted Average Method, FIFO Method, Physical Flow, Equivalent Units

Heap Company manufactures a product that passes through two processes: Fabrication and Assembly. The following information was obtained for the Fabrication Department for September:

1. All materials are added at the beginning of the process.
2. Beginning work in process had 89,000 units, 40 percent complete with respect to conversion costs.
3. Ending work in process had 15,400 units, 30 percent complete with respect to conversion costs.
4. Started in process, 92,500 units.

Required:

1. Prepare a physical flow schedule.

Heap Company
Physical Flow Schedule
Units to account for:
Units, beginning work in process	fill in the blank ab27d206104affd_2
Units started	fill in the blank ab27d206104affd_4
Total units to account for	fill in the blank ab27d206104affd_5
Units accounted for:
Units completed and transferred out:
	fill in the blank ab27d206104affd_7
	fill in the blank ab27d206104affd_9
	fill in the blank ab27d206104affd_11
Total units accounted for	fill in the blank ab27d206104affd_12

2. Compute equivalent units using the weighted average method.

Weighted average method:	Equivalent Units
Direct Materials	fill in the blank b8284200c078ff8_1
Conversion Costs	fill in the blank b8284200c078ff8_2

3. Compute equivalent units using the FIFO method.

FIFO method:	Equivalent Units
Direct Materials	fill in the blank b8284200c078ff8_3
Conversion Costs	fill in the blank b8284200c078ff8_4