Sharp Corporation has a process costing system. The following data relate to the company's Mixing Department for a recent month:
All materials are added at the beginning of the Mixing process.Required:a. Compute the equivalent units of production for materials and conversion using the weighted-average method.b. Compute the equivalent units of production for materials and conversion using the first-in, first-out method.

Weighted-Average Method

A method of inventory costing that assigns the average cost of goods available for sale to both ending inventory and cost of goods sold.

First-In, First-Out Method

An inventory valuation method where goods purchased or produced first are sold or used first, often used in the accounting of inventory costs.

Mixing Department

A section in a production facility where ingredients or components are combined to produce a final product or a mixture.