Jack and Jill Manufacturing Inc. began the year with the following.

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Category:
Accounting
Price: $10 USD

Question description

Jack and Jill Manufacturing Inc. began the year with the following.

Units

Beginning work-in-process

 30,000 

30% complete

Transferred to finished goods

 50,000 

Ending inventory

 5,000 

60% complete

Materials added at the beginning of the process.

Required: Calculate the equivalent units for the following.

a. Materials costs under the weighted average process cost method

b. Conversion costs under the weighted average process cost method

c. Materials costs under the FIFO process cost method

d. Conversion costs under the FIFO process cost method


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