Introduction:
Equivalent units: Equivalent unit is the product unit that is physically not completed but it is measured as equivalent to completed unit.
FIFO method: FIFO is one of the methods of process costing, under this method the cost and units of beginning work in process inventory are accounted separately.
Requirement-1:
To Calculate: The equivalent units of production with respect to material using weighted average method when all direct material is added to the products in the beginning:
Requirement-2:
To Calculate: The equivalent units of production with respect to material using FIFO method when percentages of completion are given:
Requirement-3:
To Calculate: The equivalent units of production with respect to material using FIFO method when percentages of completion are given:

Want to see the full answer?
Check out a sample textbook solution
Chapter 20 Solutions
WORKING PAPERS F/ FUND ACCOUNTING
- Please provide answer this financial accounting questionarrow_forwardTitan Manufacturing has total maintenance department expenses of $35,600. The maintenance costs are allocated based on square footage, where the Molding department occupies 5,500 square feet, and the Finishing department occupies 2,500 square feet. Compute the amount of maintenance department expense allocated to Molding.arrow_forwardGeneral accountingarrow_forward
- AccountingAccountingISBN:9781337272094Author:WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.Publisher:Cengage Learning,Accounting Information SystemsAccountingISBN:9781337619202Author:Hall, James A.Publisher:Cengage Learning,
- Horngren's Cost Accounting: A Managerial Emphasis...AccountingISBN:9780134475585Author:Srikant M. Datar, Madhav V. RajanPublisher:PEARSONIntermediate AccountingAccountingISBN:9781259722660Author:J. David Spiceland, Mark W. Nelson, Wayne M ThomasPublisher:McGraw-Hill EducationFinancial and Managerial AccountingAccountingISBN:9781259726705Author:John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting PrinciplesPublisher:McGraw-Hill Education





