Ralston Fine Hardwoods uses a process costing system to account for its wood processing plant.Beginning inventory consisted of 4,000 board feet of lumber (100% complete as to material,35% complete as to labor).Ralston added 132,000 board feet into the process during April.On April 30^th there were 10,000 board feet still in process (100% complete as to material,22% complete as to labor).Required:
(a)Calculate the equivalent units of production for each input,assuming Ralston uses weighted-average.(b)Calculate the equivalent units of production for each input,assuming Ralston uses FIFO.

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The Answer of Ralston Fine Hardwoods uses a process costing system to account for its wood processing plant.Beginning inventory consisted of 4,000 board feet of lumber (100% complete as to material,35% complete as to labor).Ralston added 132,000 board feet into the process during April.On April 30^th there were 10,000 board feet still in process (100% complete as to material,22% complete as to labor).Required: (a)Calculate the equivalent units of production for each input,assuming Ralston uses weighted-average.(b)Calculate the equivalent units of production for each input,assuming Ralston uses FIFO.

Ralston Fine Hardwoods Uses a Process Costing System to Account