I\'m getting part two incorrect , 28% E 11:04 PM X Home \'QHP15/17\" Toucl MHome

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I'm getting part two incorrect

, 28% E 11:04 PM X Home 'QHP15/17" Toucl MHomework 4 ×MCheck Your Work × C ezto.mheducation.com/hm.tpx so far. Even if all of the work you have done so far is correct, you may not have completed everything 3. 150 points Exercise 8-22 Compute Equivalent Units (LO 8-1, 3, 5) Magic Company adds materials at the beginning of the process in Department A. The following information on physical units for Department A for the month of August is availablee Work in process, August 1 (60% complete with respect to conversion) Started in August Completed Work in process, August 31 (75% complete with respect to conversion 16,100 121,400 121,400 16,100 Required a. Compute the equivalent units for materials costs and for conversion costs using the weighted-average method Answer is complete and correct. Equivale Units Materials 137,500 133,475 costs b. Compute the equivalent units for materials costs and for conversion costs using the FIFO method Answer is complete but not entirely correct. Equivalent 105,300 123,010 Materials version costs

Explanation / Answer

a.Conversion cost using weighted average method :

Materials = 121400 + 16100 = 137500

Converdion Cost = 121400 + 16100 ( 0.75 ) = 133475

b.FIFO method equivalent units :

Materials = 121400 + 16100 - 16100 = 121400

Converdion Cost = 121400 + 16100 ( 0.75 ) - 16100 (0.60 ) = 123815

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