Answers
| 1 | FIFO Method | ||||||||
| During the Month | |||||||||
| Beginning | 10,000 | 40% | Converted | 6,000 | 60 % Conversion Completed | ||||
| Completed & Transferred | 25,000 | Converted | 15,000 | 100 % Conversion Completed | |||||
| WIP | 2,000 | 50% | Converted | 1,000 | 50 % Conversion Completed | ||||
| Equivalent Units | 22,000 | ||||||||
| 2 | Weighted Average Method | ||||||||
| Beginning | 90,000 | 80% | Converted | ||||||
| WIP | 20,000 | 50% | Converted | 10,000 | 50 % Conversion Completed | ||||
| Transferred to Finished Goods Warehouse | 140,000 | 100% | Converted | 140,000 | 100 % Conversion Completed | ||||
| Equivalent Units | 150,000 | ||||||||
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