pertain to the company's sawmill: Work-in-process inventory, January 1 (direct materials: 60%, conversion: 40%) Work-in-process inventory, December 31 (direct materials: 70%, conversion: 60%) During the year the company started 197,500 units in production. Required: 1. Prepare a physical flow schedule. 2. Compute the number of equivalent units of both direct materials and conversion for the year, using the weighted-average method. 38,000 units 19,000 units Complete this question by entering your answers in the tabs below.
pertain to the company's sawmill: Work-in-process inventory, January 1 (direct materials: 60%, conversion: 40%) Work-in-process inventory, December 31 (direct materials: 70%, conversion: 60%) During the year the company started 197,500 units in production. Required: 1. Prepare a physical flow schedule. 2. Compute the number of equivalent units of both direct materials and conversion for the year, using the weighted-average method. 38,000 units 19,000 units Complete this question by entering your answers in the tabs below.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Transcribed Image Text:Compute the number of equivalent units of both direct materials and conversion for the year, using the weighted-average
method.
Direct materials
Conversion
Equivalent Units
Transcribed Image Text: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%)
Work-in-process inventory, December 31
(direct materials: 70%, conversion: 60%)
During the year the company started 197,500 units in production.
Required:
1. Prepare a physical flow schedule.
2. Compute the number of equivalent units of both direct materials and conversion for the year, using the weighted-average
method.
Complete this question by entering your answers in the tabs below.
Required 1 Required 2
Prepare a physical flow schedule.
Input
Quantity Schedule (in units)
Work-in-process inventory
Units started
Total units to account for
Output
Units completed
38,000 units
19,000 units
Work-in-process inventory
Total units accounted for
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