Explore BrainMass

Explore BrainMass

    Using the FIFO method and Weighted Average Method to calculate cost per equivalent unit

    Not what you're looking for? Search our solutions OR ask your own Custom question.

    This content was COPIED from BrainMass.com - View the original, and get the already-completed solution here!

    Mack Company has following info available for November:

    BEG work in Process Inventory
    (25% complete as to conversion) 10,000 units

    Started 120,000 units

    Ending Work in process inventory
    (30% complete as to conversion) 30,000 units

    Beginning Work in Process Inventory Costs:
    MATERIAL $2,100
    CONVERSION $2,030

    Current period Costs:
    MATERIAL $33,000
    CONVERSION $109,695

    All material is added at the start of production and all products completed are transferred out.

    Prepare a schedule showing computations for cost per equivalent unit assuming the
    (a) FIFO method
    (b) Weighted Average Method.

    © BrainMass Inc. brainmass.com March 4, 2021, 5:42 pm ad1c9bdddf
    https://brainmass.com/business/european-union/using-the-fifo-method-and-weighted-average-method-to-calculate-cost-per-equivalent-unit-6848

    Solution Summary

    This solution includes an excel spreadsheet complete with explanations and calculations for the associated question. If you are struggling with this problem - then this posting is the one for you!

    $2.49

    ADVERTISEMENT