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Compute for eup of materials and conversion costs using fifo

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Reference no: EM132710947

Bioman Corporation produces chemical products. The following data are from the company's Mixing Department:

Work in Process, beg. 800,000

Stage of Completion 30%

Units started in Process 700,000

Work in Process, end. 200,000

Stage of Completion 75%

Requirement:

Problem 1: Compute for EUP of Materials and Conversion Costs using FIFO method and Weighted Average Method

  1. Assuming all materials are added at the start of the process and the conversion cost is applied evenly to the process.
  2. Assuming all materials are added at the end of the process and the conversion cost is applied evenly to the process
  3. Assuming Materials are added 20% at the start of the process, additional 30% when the process is 60% completed, additional 20% when the process is 80% completed and an additional 30% at the end of the process. Conversion Cost is applied evenly to the process
  4. Assuming Materials are added 30% at the start of the process, additional 40% when the process is 50% completed, and an additional 30% at the end of the process. Conversion cost is applied evenly to the process
  5. Assuming materials are added 50% at the start of the process, and the balance is added when the process is 80% completed. Conversion Cost is applied evenly to the process.

Reference no: EM132710947

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