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:

All materials are added at the beginning of the process.

Beginning work in process had 76,100 units, 35 percent complete with respect to conversion costs.

Ending work in process had 17,100 units, 40 percent complete with respect to conversion costs.

Started in process, 95,500 units.

Required:

Question Content Area

1. Prepare a physical flow schedule.

blank

Middelton Company

Physical Flow Schedule

Units to account for: blank

Units, beginning work in process

Units, beginning work in process

Units started

Units started

Total units to account for fill in the blank f7c584f85fdbff7_5

Units accounted for: blank

Units completed and transferred out: blank

Started and completed

Started and completed

From beginning work in process

From beginning work in process

Units, ending work in process

Units, ending work in process

Total units accounted for fill in the blank f7c584f85fdbff7_12

Feedback Area

Feedback

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2. Compute equivalent units using the weighted average method.

Weighted average method: Equivalent Units

Direct Materials fill in the blank 98719e09cfcbffb_1

Conversion Costs fill in the blank 98719e09cfcbffb_2

3. Compute equivalent units using the FIFO method.

FIFO method: Equivalent Units

Direct Materials fill in the blank 98719e09cfcbffb_3

Conversion Costs fill in the blank 98719e09cfcbffb_4

Feedback Area

Feedback

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4. Suppose that the cost of direct materials in beginning work in process is $656,300 and that the direct materials cost incurred for October is $717,400. With these changes, answer the following:

a. What is the unit materials cost for the units in BWIP? Round your answers to the nearest cent.

$fill in the blank ffa1da06bfa1fa1_1

b. What is the unit materials cost for units produced in October? Round your answers to the nearest cent.

$fill in the blank ffa1da06bfa1fa1_2

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 76,100 units, 35 percent complete with respect to conversion costs. c. Ending work in process had 17,100 units, 40 percent complete with respect to conversion costs. d. Started in process, 95,500 units. Required: 1. Prepare a physical flow schedule. 2. Compute equivalent units using the weighted average method. 3. Compute equivalent units using the FIFO method. Feedback Check My Work 4. Suppose that the cost of direct moterials in beginning work in process is $656,300 and that the direct materials cost incurred for October is $717,400. With these changes, answer the following: a. What is the unit materials cost for the units in BWIP? Round your answers to the nearest cent. 4 b. What is the unit materials cost for units produced in October? Round your answers to the nearest cent