Weighted Average Method, FIFO Method, Physical Flow, Equivalent Units Middeiton Company manufactures a product that posses 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 77,500 units, 35 percent complete with respect to conversion costs. c. Ending work in process had 16,900 units, 40 percent complete with respect to conversion costs. d. Started in process, 99,500 units. Required: 1. Prepare a physical flow schedule. v Check My Work 1. The physical flow schedule traces the units in process regardless of their stage of completion and prov needed for preparing the equivalent units schedule. 2. Compute equivalent units using the weighted average method. 3. Compute equivalent units using the FIFO method. 4. Suppose that the cost of direct materials in beginning work in process is $569,200 and that the direct matenols cost incurred roi October is 5762,300 . With these changes, answer the following: a. What is the unit materiais 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. Which method should be used to answer this question? Explain why the unit materials cost is not the same for weighted average and FIFO. Of the two unit calculations, uses only October costs and october output; so it be used to calculate the unit materiais cost for October. When those costs are changing from one period to the next, then the unit costs for FIFO and WA differ. As part of your explanation, show that the weighted average unit cost for materials is the biend of the september unit materials cost and the October unit materials cost. Because the weights are the of total equivelent units for each unit cost, c. Which data analytic types (descriptive, diagnostic, predictive, or prescriptive) apply for 4 a and 4b ? Note: More than one data analytic type might apply. (See Exhibit 2,5 and Exhibit 2.6 for a review of data analytic metrics.) Calculating what the unit materials cost is for September is V. Identirying the method that should be used for Weighted Average Method, FIFO Method, Physical Flow, Equivalent Units Middeiton Company manufactures a product that posses 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 77,500 units, 35 percent complete with respect to conversion costs. c. Ending work in process had 16,900 units, 40 percent complete with respect to conversion costs. d. Started in process, 99,500 units. Required: 1. Prepare a physical flow schedule. v Check My Work 1. The physical flow schedule traces the units in process regardless of their stage of completion and prov needed for preparing the equivalent units schedule. 2. Compute equivalent units using the weighted average method. 3. Compute equivalent units using the FIFO method. 4. Suppose that the cost of direct materials in beginning work in process is $569,200 and that the direct matenols cost incurred roi October is 5762,300 . With these changes, answer the following: a. What is the unit materiais 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. Which method should be used to answer this question? Explain why the unit materials cost is not the same for weighted average and FIFO. Of the two unit calculations, uses only October costs and october output; so it be used to calculate the unit materiais cost for October. When those costs are changing from one period to the next, then the unit costs for FIFO and WA differ. As part of your explanation, show that the weighted average unit cost for materials is the biend of the september unit materials cost and the October unit materials cost. Because the weights are the of total equivelent units for each unit cost, c. Which data analytic types (descriptive, diagnostic, predictive, or prescriptive) apply for 4 a and 4b ? Note: More than one data analytic type might apply. (See Exhibit 2,5 and Exhibit 2.6 for a review of data analytic metrics.) Calculating what the unit materials cost is for September is V. Identirying the method that should be used for