FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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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
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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
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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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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