Answer:
Physical Flow units 105000 ounces
FIFO Equivalent Units = Materials 85000 and Conversion 86000 ounces
Explanation:
<u><em>Jackson Products</em></u>
<u><em>Physical flow Schedule </em></u>
<u><em>For the month of July.</em></u>
<u><em></em></u>
Units to account For
BWIP 60 % complete 10,000
<u>Units Started 95000</u>
<u>Total units to account for 105000</u>
Units accounted For
Units completed and Transferred out 80,000
BWIP 10000
E<u>WIP 15000 </u>
<u>Total Units accounted For 105,000 </u>
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<u><em>Jackson Products</em></u>
<u><em>Equivalent Units Schedule </em></u>
<u><em>For the month of July.</em></u>
<u><em></em></u>
<u>Particulars Units % OF Completion Equivalent Units </u>
<u> Materials Conversion Materials Conversion</u>
Units Started &
Completed 100 100 80000 80000
EWIP 100 80 15000 12000
<u>Less Beg. WIP 100 60 10,000 6000 </u>
<u>Total Equivalent Units 85000 86000</u>
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<em><u>The difference between Weighted and FIFO Equivalent units is that FIFO accounts only for the current units . Thus the beginning inventory is deducted from the Total of completed and ending units.</u></em>
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Explanation: