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Prepare a schedule analysing the physical flow of units

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Reference no: EM132979312

Squeeze Ltd produces low-fat salad dressing. The following data relate to the year just ended:

Work in process, 1 January

units 40 000 litres

Percentage of completion

direct material 60%

conversion 40%

Work in process, 31 December

units 30 000 litres

Percentage of completion

direct material 70%

conversion 20%

During the year the company started 200 000 litres of material in production.

Problem 1: Prepare a schedule analysing the physical flow of units and calculating the equivalent units of both direct material and conversion for the year. Use weighted average process costing.

Reference no: EM132979312

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