Question

Weighted Average Method, Equivalent UnitsGoforth Company produces a product where all manufacturing inputs are applied uniformly. Goforth produced the following physical flow schedule for April:Units to account for:Units in BWIP (40% complete) 180,000Units started 420,000 Total units to account for 600,000Units accounted for:Units completed:From BWIP 180,000Started and completed 324,000504,000Units, EWIP (75% complete) 96,000600,000Prepare a schedule of equivalent units using the weighted average method.Goforth CompanySchedule of equivalent units(Weighted Average Method)Units completed ?Units in ending work in process x fraction complete: ?Equivalent units of output ?

Answer 1

Step-by-step explanation:

Opening units 180000

Started 420000

600000

Transffered 504000

Closing 96000

schedule of equivalent units using the weighted average method

Cost Element Complete Closing WIP Equivellant production units

Material 504,000 96,000 600,000

Labour Cost 504,000 72,000 576,000

closing wip with respect to conversion represents 75% of 96000 units