Weighted Average Method, FIFO Method, Physical Flow, Equivalent Units

Middleton Company manufactures a product that passes through two processes: Fabrication and Assembly. The following information was obtained for the Fabrication Department for October:

1. All materials are added at the beginning of the process.
2. Beginning work in process had 90,700 units, 20 percent complete with respect to conversion costs.
3. Ending work in process had 13,100 units, 35 percent complete with respect to conversion costs.
4. Started in process, 95,600 units.

Required:

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1. Prepare a physical flow schedule.

Units to account for:
Started and completed Units, beginning work in process Units, ending work in process Units, beginning work in process	Units, beginning work in process
Units completed Units, ending work in process Units started Units transferred out Units started	Units started
Total units to account for	fill in the blank 100b8c061007fe9_5
Units accounted for:
Units completed and transferred out:
Started and completed Units completed Units started Units transferred out Started and completed	Started and completed
From beginning work in process Units completed Units started Units transferred out From beginning work in process	From beginning work in process
Units completed Units, ending work in process Units started Units transferred out Units, ending work in process	Units, ending work in process
Total units accounted for	fill in the blank 100b8c061007fe9_12

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1. The physical flow schedule traces the units in process regardless of their stage of completion and provides the information needed for preparing the equivalent units schedule.

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2. Compute equivalent units using the weighted average method.

Weighted average method:	Equivalent Units
Direct Materials	fill in the blank 7378cef8d050fc0_1
Conversion Costs	fill in the blank 7378cef8d050fc0_2

3. Compute equivalent units using the FIFO method.

FIFO method:	Equivalent Units
Direct Materials	fill in the blank 7378cef8d050fc0_3
Conversion Costs	fill in the blank 7378cef8d050fc0_4