This is the cost accounting assignment


Question Description:

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It has to be due tomorrow Document Preview: Question 1. Why are equivalent units of production used in process costing? Question 2: Baum Co. has two processing departments: F… javascript:void(0); Baum Co. has two processing departments: Fabrication and Assembly. In the Fabrication Department, metal is cut and formed into various components, which are then transferred to Assembly. The components are welded, polished, and coated with sealant in the Assembly Department. April 2010 production data for these two departments follow. Fabrication Beginning WIP Inventory (100% complete as to material; ……… 5,000 25% complete as to conversion) Units started during month …………………………………….40,000 Ending WIP Inventory (100% complete as to material; ………… 6,800 60% complete as to conversion) Assembly Beginning WIP Inventory (0% complete as to sealant; …………… 2,000 35% complete as to conversion) Units started during month…………………………………………. ? Ending WIP Inventory (0% complete as to sealant; ………………. 6,100 15% complete as to conversion) a. Determine the equivalent units of production for each cost component for each department under the WA method. b. Determine the equivalent units of production for each cost component for each department under the FIFO method. Attachments: Assignment.docx

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