Weighted Average Method, Equivalent Units Goforth Company produces a product where all manufacturing inputs are app Units to account for: Units in BWIP (40% complete) Units started Total units to account for 180,000 420,000 600.000

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
icon
Related questions
Topic Video
Question

Please do not give solution in image format thanku 

Weighted Average Method, Equivalent Units
Goforth Company produces a product where all manufacturing inputs are applied
Units to account for:
Units in BWIP (40% complete)
Units started
Total units to account for
Units accounted for:
Units completed:
From BWIP
Started and completed
Units, EWIP (75% complete)
Total units accounted for
Required:
180,000
420,000
600,000
180,000
324,000
504,000
96,000
600,000
Prepare a schedule of equivalent units using the weighted average method.
Goforth Company
Schedule of equivalent units
(Weighted Average Method)
Transcribed Image Text:Weighted Average Method, Equivalent Units Goforth Company produces a product where all manufacturing inputs are applied Units to account for: Units in BWIP (40% complete) Units started Total units to account for Units accounted for: Units completed: From BWIP Started and completed Units, EWIP (75% complete) Total units accounted for Required: 180,000 420,000 600,000 180,000 324,000 504,000 96,000 600,000 Prepare a schedule of equivalent units using the weighted average method. Goforth Company Schedule of equivalent units (Weighted Average Method)
Units in BWIP (40% complete)
Units started
Total units to account for
Units accounted for:
Units completed:
From BWIP
Started and completed
Units, EWIP (75% complete)
Total units accounted for
180,000
Units completed
Units in ending work in process x fraction complete:
Equivalent units of output
420,000
600,000
180,000
324,000
504,000
96,000
600,000
Required:
Prepare a schedule of equivalent units using the weighted average method.
Goforth Company
Schedule of equivalent units
(Weighted Average Method)
U
Transcribed Image Text:Units in BWIP (40% complete) Units started Total units to account for Units accounted for: Units completed: From BWIP Started and completed Units, EWIP (75% complete) Total units accounted for 180,000 Units completed Units in ending work in process x fraction complete: Equivalent units of output 420,000 600,000 180,000 324,000 504,000 96,000 600,000 Required: Prepare a schedule of equivalent units using the weighted average method. Goforth Company Schedule of equivalent units (Weighted Average Method) U
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

Blurred answer
Knowledge Booster
Performance measurements
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education