Question

Magic Company adds materials at the beginning of the process in Department A. The following information...

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 available.

Work in process, August 1 (60% complete with respect to conversion) 17,600
Started in August 120,900
Completed 120,900
Work in process, August 31 (78% complete with respect to conversion) 17,600

Required:

a. Compute the equivalent units for materials costs and for conversion costs using the weighted-average method.

b. Compute the equivalent units for materials costs and for conversion costs using the FIFO method.

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