Reference no: EM132528678
Barn Farm Pty Ltd, a pet food supplier, 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. The company's production quantity schedule for June 2019 are as following:
Units (cans) Work in process on 1 June (60% completes to conversion) 400
Units started during June 700
Total units to account for 1100
Units from beginning work in process, which were completed and transferred out during June 400
Units started and completed during June 360
Work in process on 30 June (20% complete s to conversion) 340
Total units accounted for 110
Question a: Calculate each of the following amounts:
1. Equivalent units of direct material and conversion during June. Use the FIFO method.
2. Equivalent units of direct material and conversion during June. Use the weighted average method.
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