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Northern Washington Lumber Company grows, harvests, and processes timber for use as building lumber. The...

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Accounting

Northern Washington Lumber Company grows, harvests, and processes timber for use as building lumber. The following data pertain to the company's sawmill:

Work-in-process inventory, January 1

(direct materials: 60%, conversion: 40%)38,000 units

Work-in-process inventory, December 31

(direct materials: 70%, conversion: 60%)19,000 units

During the year the company started 197,500 units in production.

Required:

  1. physical flow schedule.

2. Compute the number of equivalent units of both direct materials and conversion for the year, using the weighted-average method.

Physical flow schedule.

Quantity Schedule (in units)

Input Work-in-process inventory

Units started

Total units to account for

Output

Units completed

Work-in-process inventory

Total units accounted for

Compute the number of equivalent units of both direct materials and conversion for the year, using the weighted-average method.

Equivalent Units

Direct materials

Conversion

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