10. Weighted Average Method, Equivalent Units, Unit Cost, Multiple Departments

Fordman Company has a product that passes through two processes: Grinding and Polishing. During December, the Grinding Department transferred 20,000 units to the Polishing Department. The cost of the units transferred into the second department was $40,000. Direct materials are added uniformly in the second process. Units are measured the same way in both departments.

The second department (Polishing) had the following physical flow schedule for December:

Units to account for:
Units, beginning work in process	4,000	(40% complete)
Units started	?
Total units to account for	?
Units accounted for:
Units, ending work in process	8,000	(50% complete)
Units completed	?
Units accounted for	?

Costs in beginning work in process for the Polishing Department were direct materials, $4,000; conversion costs, $6,000; and transferred in, $8,000. Costs added during the month: direct materials, $33,000; conversion costs, $48,000; and transferred in, $40,000.

Required: 1. Assuming the use of the weighted average method, prepare a schedule of equivalent units. Enter percentages as whole numbers. Fordman Company Schedule of Equivalent Units For the month of December Direct Materials Conversion Costs Transferred In Ending WIP: X % 2. Compute the unit cost for the month. If required, round your answer to the nearest cent. per equivalent unit