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:

All materials are added at the beginning of the process.

Beginning work in process had $80,000$ units, $30$ percent complete with respect to conversion costs.

Ending work in process had $17,000$ units, $25$ percent complete with respect to conversion costs.

Started in process, $95,000$ units.

Required:

Question Content Area

$1.$ Prepare a physical flow schedule.

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Heap Company

Physical Flow Schedule

Units to account for: blank

$-$ Select $-$

$-$ Select $-$

Total units to account for fill in the blank $214$b$1$d$04$c$047$fd$5\_5$

Units accounted for: blank

Units completed and transferred out: blank

$-$ Select $-$

$-$ Select $-$

$-$ Select $-$

Total units accounted for fill in the blank $214$b$1$d$04$c$047$fd$5\_12$

Question Content Area

$2.$ Compute equivalent units using the weighted average method.

Weighted average method: Equivalent Units

Direct Materials fill in the blank a$88$f$85$ffa$015$ff$0\_1$

Conversion Costs fill in the blank a$88$f$85$ffa$015$ff$0\_2$

$3.$ Compute equivalent units using the FIFO method.

FIFO method: Equivalent Units

Direct Materials fill in the blank a$88$f$85$ffa$015$ff$0\_3$

Conversion Costs fill in the blank a$88$f$85$ffa$015$ff$0\_4$