Sharp Company Has a Process Costing System All Materials Are Added at the Beginning of the Mixing

question 131

Essay

Sharp Company has a process costing system.The following data relate to the company's Mixing Department for a recent month:
$\begin{array}{|l|r|r|}\hline&\text { Units} &\text { Conversion percentage}\\&&\text { complete}\\\hline \begin{array}{l}\text { Beginning work in process } \\\text { inventory }\end{array} & 5,000 & 60 \% \\\hline \text { Units started into production } & 40,000 & \\\hline \begin{array}{l}\text { Units completed and } \\\text { transferred }\end{array} & 37,000 & \\\hline \begin{array}{l}\text { Ending work in process } \\\text { inventory }\end{array} & 8,000 & 25 \% \\\hline\end{array}$

All materials are added at the beginning of the mixing process.
Required:
a)(Appendix 6A)Compute the equivalent units of production for materials using the FIFO method.
b)(Appendix 6A)Compute the equivalent units of production for conversion using the FIFO method.
c)Compute the equivalent units of production for materials using the weighted-average method.
d)Compute the equivalent units of production for conversion using the weighted-average method.

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