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 82,900 units, 40 percent complete with respect to conversion costs. Ending work in process had 16,400 units, 40 percent complete with respect to conversion costs. d. Started in process, 90,700 units. Required: 1. Prepare a physical flow schedule. Units to account for: Middelton Company Physical Flow Schedule 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 82,900 98,700 173,600 74,300 82,900 16,400 173,600 2. Compute equivalent units using the weighted average method. Weighted average method: Equivalent Units Direct Materials Conversion Costs 173,600 166,580 x 3. Compute equivalent units using the FIFO method FIFO method Equivalent Units Direct Materials Conversion Costs 90,700 139,665 X Chuck My Wive 2. To calculate equivalent units, weighted average counts prior-period output in BWIP as belonging to the current period. So all completed units are treated as output of the curent period 3. FIFO treats the work (equivalent output) in BWIP as belonging to the prior period and only counts the work (equivalent output for each input) done this period as part of this penod's output. 4. Suppose that the cost of direct materials in beginning work in process is $563,200 and that the direct materials cost incurred for October is $751,100. Wies these changes, answer the folowing: a. What is the unit materials cost for the units in BWIP? Round your answers to the nearest cent. 15.85 X b. What is the unit materials cost for units produced in October? Round your answers to the nearest cent 7.57