I need help answering part b of this problem . Please show me how to do part b.

Question

I need help answering part b of this problem. Please show me how to do part b. For part a, I got:

229,200

+229,200

_________

=458,400

and

223,920

+222,160

_________

=446,080

Northern Washington Lumber Company grows, harvests, and processes timber for use as building lumber. The following data pertain to the company's sawmil Vork-in-process inventory, January 1 (materials: 60%, conversion: 40%) Work-in-process inventory, December 31 (materials: 70%, conversion: 60%) 35,200 units 17,600 units During the year the company sta rted 194,000 units in production Required a. Prepare a physical flow schedule Quantity Schedule (In Units) Input Work-in-process inventory Units started Total units to account for Output Units completed Work in process in Total units accounted for ventory b. Compute the number of equivalent units of both direct materials and conversion for the year, using the weighted-average method. Equivalent Units Materials Conversion

Explanation / Answer

Answer:

(b)..Calculation of number of equivalent units for both direct material and conversion for the year:

No of Units completed during the year = Opening WIP + Units Introduced - Closing WIP = 35,200 + 194,000 - 17,600 = 211,600 Units

Equivalent Units = Actual No of Units in process x Percentage of work completed

Equivalent Units for Material Output Units Equivalent Percentage Equivalent Production Units Completed 211600 100% 211600 Closing Work-in-process 17600 70% 12320 223920 Equivalent Units for Conversion Output Units Equivalent Percentage Equivalent Production Units Completed 211600 100% 211600 Closing Work-in-process 17600 60% 10560 222160

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