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Materials Cost Accounting: Malbim Company

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Process Costing - Weighted Average Method

The Malbim Company uses a process costing system and adds materials at the beginning. July 1st has 400 units in the beginning inventory (100% materials). The units in beginning inventory (July 1) are only 75% complete on conversion costs (labor and OH). During July, 10,000 units were placed in production. 7,400 were completed and transferred out. On July 31, the remaining 3,000 units were 20% complete for conversion costs.
Calculate the equivalent units for materials and conversion costs.

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Solution Summary

Your tutorial is attached showing how you treat EU differently under weighted average and FIFO. Basically you separate the beginning from the current period EU when using FIFO.

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