Jackson Products produces a barbeque sauce using three departments: Cooking, Mixing, and Bottling. In the Cooking Department, all 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* 10,100 Units completed and transferred out 80,000 Units in process, July 31, 80% complete* 15,100     * With respect to conversion costs. Required: Question Content Area 1. Prepare a physical flow schedule for July. Jackson ProductsPhysical Flow ScheduleFor the Month of July Units to account for:                 Total units to account for     Units accounted for:     Units completed and transferred out:                       Total units accounted for       2. Prepare an equivalent units schedule for July using the FIFO method. Enter percentages as whole numbers. If an amount box does not require an entry, enter "0". Jackson ProductsEquivalent Units Schedule   Direct Materials Conversion Costs       Add: Units in beginning work in process × Percentage to complete:                 Add: Units in ending work in process × Percentage complete:                         3. 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?  _______________________ equivalent units

Weighted Average Method, Unit Cost, Valuation of Goods Transferred Out and Ending Work in Process Holmes Products, Inc., produces plastic cases used for video cameras. The product passes through three departments. For April, the following equivalent units schedule was prepared for the first department:     Direct Materials   Conversion Costs Units completed     25,000       25,000   Units, ending work in process ×  Percentage complete:                 7,000 × 100%     7,000       —   7,000 × 50%     —       3,500   Equivalent units of output     32,000       28,500   Costs assigned to beginning work in process: direct materials, $80,000; conversion costs, $15,125. Manufacturing costs incurred during April: direct materials, $80,000; conversion costs, $220,000. Holmes uses the weighted average method. Required: 1. Compute the unit cost for April. If required, round your answer to the nearest cent. $fill in the blank 1 per equivalent unit 2. Determine the cost of ending…

Weatherly Lumber Company processes wood pulp for manufacturing various paper products. The company employs a process costing system for its manufacturing operations. All direct materials are added at the beginning of the process, and conversion costs are incurred uniformly throughout the process. This is the company's production schedule for May: Tons of Pulp Percent Completed Materials Conversion Work-in-Process Inventory, May 1 5,000 100% 50% Started during May 14,000 Units to account for 19,000 Units from beginning Work-in-Process, which were completed and transferred out during May 5,000 Started and completed during May 8,400 5,600 100% 50% 19,000 Work-in-Process Inventory, May 31 Total units accounted for The following cost data are available: Work-in-Process Inventory, May 1 Direct materials Conversion Costs incurred during May Direct materials Conversion Required: $ 74,920 68,756 210,840 409,630 1. Calculate the equivalent units of direct materials and conversion during May. Use…

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.…