Heap Company manufactures a product that passes through two processes: Fabrication and Assembly. The following information was obtained for the Fabrication Department for September:
All materials are added at the beginning of the process.
Beginning work in process had 72,600 units, 40 percent complete with respect to conversion costs.
Ending work in process had 18,100 units, 20 percent complete with respect to conversion costs.
Started in process, 95,100 units.
1. Prepare a physical flow schedule.
Heap Company Physical Flow Schedule Units to account for Units, beginning work in proce ▼ 72600 Units started 95100 Total units to account for 167700 Units accounted for: Units completed andt Units started Units, beginning work in proce ▼ Units, ending work in process ▼ Total units accounted for 2. Compute equivalent units using the weighted average method. Weighted average method: Equivalent Units Direct Materials Conversion Costs 3. Compute equivalent units using the FIFO method. FIFO method: Direct Materials Equivalent Units