Equivalent Units of Conversion Costs The Filling Department of Ivy Cosmetics Company had 2,300 ounces in beginning work in process inventory (80% complete). During the period, 32,300 ounces were completed. The ending work in process inventory was 2,900 ounces (20% complete). What are the total equivalent units for conversion costs? X units Feedback Check My Work Are you determining the equivalent units of materials added or of conversion of materials? When would materials typically be added in the process? When would conversion of these materials take place? Recall the definition of work in process.

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Weighted Average Method, FIFO Method, Physical Flow, Equivalent Units Middelton Company manufactures a product that passes through two processes: Fabrication and Assembly. The following information was obtained for the Fabrication Department for October: All materials are added at the beginning of the process. Beginning work in process had 80,500 units, 30 percent complete with respect to conversion costs. Ending work in process had 14,000 units, 40 percent complete with respect to conversion costs. Started in process, 91,000 units. Required: 1. Prepare a physical flow schedule. Middelton Company Physical Flow Schedule Units to account for:           Total units to account for   Units accounted for:   Units completed and transferred out:               Total units accounted for     2. Compute equivalent units using the weighted average method. Weighted average method: Equivalent Units Direct Materials   Conversion Costs   3.…

Equivalent Units Calculations—Weighted Average Method   Ferris Corporation makes a powdered rug shampoo in two sequential departments, Compounding and Drying. Materials are added at the beginning of the process in the Compounding Department. Conversion costs are added evenly throughout each process. Ferris uses the weighted average method of process costing. In the Compounding Department, beginning work in process was 2,000 pounds (70% processed), 18,500 pounds were started in process, 18,000 pounds transferred out, and ending work in process was 30% processed. Calculate equivalent units for March 2016 for the Compounding Department. Ferris CorporationFlow of Units and Equivalent Units Calculation, March 2016   Equivalent Units   % Workdone DirectMaterials % WorkDone ConversionCosts Complete/Transferred Answer Answer Answer Answer Answer Ending Inventory Answer Answer Answer Answer Answer Total Answer   Answer   Answer

Equivalent Units of Conversion Costs The Filling Department of Ivy Cosmetics Company had 4,700 ounces in beginning work in process inventory (90% complete). During the period, 33,500 ounces were completed. The ending work in process inventory was 1,700 ounces (70% complete). What are the total equivalent units for conversion costs? 38,920 X units. Feathark

Equivalent Units of Conversion Costs The Filling Department of Ivy Cosmetics Company had 6,000 ounces in beginning work in process inventory (60% complete). During the period, 68,000 ounces were completed. The ending work in process inventory was 10,000 ounces (25% complete). What are the total equivalent units for conversion costs? 70,500 is not the correct answer!

Data Section: Work in process, beginning Units started during the month Work in process, ending Costs to account for. Beginning work in process Materials added Conversion costs incurred Total costs to be accounted for Beg. Work in process Started & Completed Ending Work in process Total Whole Units $ $ $ S Units 50,000 220,000 30,000 Total 100,000 176,000 597,600 873,600 Direct Mat. % Added During the Month Cost per equivalent unit Percent Conversion 30% 80% Direct Mat. Equiv. Units Direct Mat. Conversion% Added During the Month HINT: To find started and completed: Completed units - beginning inventory Started during the month - ending inventory Conversion Equiv. Units Conversion Beginning Inventory Cost assignment Direct Materials Conversion Total Amount reported on the balance sheet as Finished goods inventory Work in Process inventory

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Beginning Work-in-Process is 2,000 units; 44,000 units completed, and ending Work-in-Process is3,000 units, which are 100% complete for direct materials and 50% complete for conversion costs. Thebeginning WIP Inventory is 100% complete for direct materials and 50% complete for conversion.Required1. What are the equivalent units for materials and conversion using the weighted-average method2. What are the equivalent units for materials and conversion using the FIFO method?