Reference no: EM132608368

Wysinco produces bottled sodas in its manufacturing plant. Direct materials are introduced intervals and conversion costs are applied consistently throughout the process. Data for the current period are as follows:

Beginning work in process inventory: 90,000 units (Completion: 75% for materials and 40% for conversion cost)
Units started in current period 130,000 units
Ending work in process inventory: 114,000 units (Completion: 90% for materials and 60% for conversion cost)

Costs contained in beginning work in process inventory

Direct materials $589,200
Conversion costs $443,200

Costs added during current period

Direct materials $2,539,800
Conversion costs $3,044,800

Required:

Question 1: Use the weighted average cost flow assumption: determine the equivalent unit cost, work in progress for direct material and conversion cost.

Question 2: Use the FIFO cost flow assumption: determine the equivalent unit cost, work in progress for direct material and conversion cost.

Question 3: Outline TWO differences between job order costing and process costing.