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2 years ago

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Jackson Products produces a barbeque sauce using three departments: Cooking, Mixing, and Bottling. In the Cooking Department, al

l materials are added at the beginning of the process. Output is measured in ounces. The production data for July are as follows: Production: Units in process, July 1, 60% complete* 10,000 Units completed and transferred out 80,000 Units in process, July 31, 80% complete* 15,000 * With respect to conversion costs.
Required: Prepare a physical flow schedule for July. Prepare an equivalent units schedule for July using the FIFO method. What if 60 percent of the materials were added at the beginning of the process and 40 percent were added at the end of the process (all ingredients used are treated as the same type or category of materials)? How many equivalent units of materials would there be?

1 answer:

mina [271]2 years ago

8 0

Answer:

physical flow schedule is express as

Explanation:

physical flow schedule is express as

Quantities Physical Units in Gallons Material Conversion

Units to be accounted

Work in process July 1 10,600

(Direct Material - 100%,

Conversion Cost -70%)

Started into production 87,800

(98,400 Units - 10600 Units)

Total units 98,400

Units accounted for

Transferred out 83,000 83,000 83,000

Work in process, July 31 15,400 15,400 10,780

(Direct Material - 100%,

Conversion Cost -90%)

Total units accounted for 98,400 98,400 93,780

and

Material Conversion

Units Both Started & 72,400 72,400

Completed During July

Units in Beginning WIP ×

Percentage to Complete

Material = 10,600 × 0% 0

Conversion = 10,600 × 30% 3180

Units in Ending WIP × Percentage Complete

Material = 15,400 × 100% 15400

Conversion - 15,400 × 90% 13860

Equivalent Unit Under FIFO Method 87,800 89,440

(= 72,400 + 15400 = 87,800

= 72,400 + 3180 + 13860 = 89,440)

and

Material

Units Both Started & Completed During July 72,400

Units in Beginning WIP ×

Percentage to Complete

Material = 10,600 × 40% 4240

Units in Ending WIP × Percentage Complete

Material = 15,400 × 60% 9240

Equivalent Unit Under FIFO Method 85,880

72,400 + 4240 + 9240 = 85,880

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For LDC:

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ForLDC:

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