90.2K

Verified Solution

Link Copied!

Unit Information with BWIP, Weighted Average Method

Jackson Products produces a barbeque sauce using three departments: Cooking, Mixing, and Bottling. In the Cooking Department, all materials are added at the beginning of the process. Output is measured in ounces. The production data for July are as follows:

Production:
Units in process, July 1, 60% complete*	10,400
Units completed and transferred out	83,000
Units in process, July 31, 80% complete*	15,200
* With respect to conversion costs.

Required:

1. Prepare a physical flow schedule for July.

Jackson Products Physical Flow Schedule For the Month of July

10,400 87,800 98,200 Units to account for: Units, beginning work is process (60% complete) Units started during July Total units to account for Units accounted for: Units completed and transferred out: Started and completed From beginning work in process Units in ending work in process (80% complete) Total units accounted for 72,600 10,400 83,000 15,200 98,200 Feedback 2. Prepare an equivalent units schedule for July using the weighted average method. Enter percentages as whole numbers. Jackson Products Equivalent Units Schedule Direct Materials Conversion Costs Units completed 83,000 83,000 Add: Units in ending work in process * Percentage complete: 15,200 x 100% 15,200 15,200 x 80 % 12,160 Equivalent units of output 98,200 95,160 Feedback 3. What if you were asked to calculate the FIFO units beginning with the weighted average equivalent units? Calculate the weighted average equivalent units by subtracting out the prior-period output found in BWIP. FIFO Equivalent Units Direct Materials Conversion Costs

Answer & Explanation Solved by verified expert

See Answer