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Madrid company manufactures a product that passes through two process: fabrication and assembly. The following information was obtained for the fabrication department for august:

a. All materials are added at the beginning of the process

b. Beginning work in process has 60,000 units, 30% complete with respect to conversion costs

c. Ending work in process has 12,000 units, 25% complete with respect to conversion cost

d. Started in process, 75,000 units

Required:

1. Prepare a physical flow schedule.

2. Compute equivalent units using the weighted average method.

3. Compute equivalent units using the FIFO method.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9449112

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