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 78,400 units, 30 percent complete with respect to conversion costs.
3. Ending work in process had 17,700 units, 40 percent complete with respect to conversion costs.
4. Started in process, 106,200 units.

Required:

1. Prepare a physical flow schedule.

Heap Company
Physical Flow Schedule
Units to account for:
	fill in the blank 8514c1f96035063_2
	fill in the blank 8514c1f96035063_4
Total units to account for	fill in the blank 8514c1f96035063_5
Units accounted for:
Units completed and transferred out:
	fill in the blank 8514c1f96035063_7
	fill in the blank 8514c1f96035063_9
	fill in the blank 8514c1f96035063_11
Total units accounted for	fill in the blank 8514c1f96035063_12

2. Compute equivalent units using the weighted average method.

Weighted average method:	Equivalent Units
Direct Materials	fill in the blank 81808ff06f83fc8_1
Conversion Costs	fill in the blank 81808ff06f83fc8_2

3. Compute equivalent units using the FIFO method.

FIFO method:	Equivalent Units
Direct Materials	fill in the blank 81808ff06f83fc8_3
Conversion Costs	fill in the blank 81808ff06f83fc8_4