Question

ile Home Insert Formulas Data Review View Help Tell me what you want to do fx А B с D E F G H I The Malbim Company uses a process costing system. Materials are added at the beginning of the process. On July 1 there are 400 units in the beginning inventory that are 100% complete as to materials. With regard to labor and overhead, however, the units in beginning inventory (July 1) are only 75% complete. During July, 10,000 units were started in production; of these, 7,000 were completed and transferred to the next department. On July 31, the remaining 3,000 units were 20% complete with regard to labor and overhead. Required: Using the Weighted Average method, calculate the equivalent units of Direct Materials Direct Labor and Factory Overhead Using the FIFO method, calculate the equivalent units of Direct Materials B Direct Labor and Factory Overhead

Answer 1

Book1 - Excel Sign in o X File Home Insert Page Layout Formulas Data Review View Help Tell me what you want to do & Share Σ AutoSum X Cut Be Copy Calibri - 14 Å lili ab Wrap Text General Normal Bad AY O Fill - Paste BIU- A - % Insert Delete Format Merge & Center - Neutral .00 20 Format Painter Conditional Format as Good Formatting Table Styles Clear Sort & Find & Filter - Select Editing Clipboard Font Alignment Number Cells UPDATES AVAILABLE Updates for Office are ready to be installed, but first we need to close some apps. Update now X J16 for B D E F G H J K L M N o А C 1 Solution- 2 3 1) 4 Weighted-average Method 5 Direct Materials Direct Labor and Factory Overhead 6 Units completed this period (Note) 7400 7400 7 Equivalent units in ending inventory 8 3000 units * 100% 3000 9 3000 units * 20% 600 10 Total equivalent units 10400 8000 11 12 13 Note-Units completed this period = Beginning inventory units of 400 + units started and completed 7000 14 15 16 17 18 19 20 21 22 Sheet1 Sheet2 + Ready 100% O Type here to search 1 O a I ? (1) ENG 10:44 PM 24-09-2020

Book1 - Excel Sign in o X File Home Insert Page Layout Formulas Data Review View Help Tell me what you want to do & Share Σ AutoSum Cut Eg Copy Calibri - 14 Å Til ab Wrap Text General Bad AY O Fill - Paste BIU- A - % Merge & Center - Insert Delete Format .00 Normal Conditional Format as Good Formatting Table Styles Neutral 20 Format Painter Clear Sort & Find & Filter - Select Editing Clipboard Font Alignment Number Cells UPDATES AVAILABLE Updates for Office are ready to be installed, but first we need to close some apps. Update now X J10 fr A B с D E F G I K L M 1 22) 3 4 FIFO Method 5 Direct Materials Direct Labor and Factory Overhead 6 Equivalent units needed to complete beginning inventory: 7 400 units * 0% [Note] 0 8 400 units * 25% 100 9 Units started and completed 7000 7000 10 Equivalent units in ending inventory 11 3000 units * 100% 3000 12 3000 units * 20% 600 13 Total equivalent units 10000 7700 14 15 16 Note - Beginning inventory units had 100% of the materials at the beginning of the period. So, there are no additional materials are used. 17 18 19 20 21 22 Sheet1 Sheet2 + Ready 100% Type here to search 1 O a I ? (1) ENG 10:44 PM 24-09-2020