12/13

12 Required information Use the following information for the Exercises below. (Algo) Part 2 of 2 [The following information applies to the questions displayed below.] Fields Company has two manufacturing departments, forming and painting. The company uses 1.17 the weighted average method and it reports the following unit data for the Forming department. Units completed in the forming department are transferred to the painting department. points Skipped Direct Materials Conversion Percent Percent Units Complete complete Beginning work in process inventory 30,080 20% @Book Units started this period 390,080 Completed and transferred out 380,060 Ending work in process inventory 40,000 30 Hint Production cost information for the forming department follows. Beginning work in process Direct materials $ 50,200 Print Conversion 18,900 $ 69, 100 Costs added this period Direct materials 1, 507, 160 References Conversion 1, 031, 660 2,538, 820 Total costs to account for $ 2,607,920 Exercise 16-7A (Algo) FIFO: Cost per EUP LO C2 Assume that Fields uses the FIFO method of process costing. a. Calculate the number of units started and completed this period for the Forming department. b. Calculate the equivalent units of production for both direct materials and conversion for the Forming department. c. Calculate the costs per equivalent unit of production for both direct materials and conversion for the Forming department Complete this question by entering your answers in the tabs below. Required A Required B Required C Calculate the number of units started and completed this period for the Forming department. Units started and comp Required A Required B Required C Calculate the equivalent units of production for both direct materials and conversion for the Forming department. Direct Materials Conversion Units Percent Percent Added EUP Added EUP Beginning work in process Started and completed Ending work in process Required A Required B Required C Calculate the costs per equivalent unit of production for both direct materials and conversion for the Forming department. (Round your answers to 2 decimal places.) Direct Materials Conversion Costs added this period + Equivalent units of production (from part b) EUP EUP Cost per equivalent unit of production per EUP per EUP Check my work 13 Exercise 16-17 (Algo) Weighted average: Production cost report LO P2 1.17 Oslo Company produces large quantities of a standardized product. The following information is available for the points first production department for May. Prepare a production cost report for this process using the weighted average Skipped method. (Round "Cost per EUP" to 2 decimal places.) Direct Materials Conversion Percent Percent Book Units Complete Complete Beginning work in process inventory 5,080 Units started this period 17 090 ampleted and transferred out 17,090 Hint in process inventory 5,090 108% 35% Beginning work in process inventory Direct materials $ 3,830 Prim Conversion 8, 058 $ 11, 888 Costs added this period Direct materials 282, 120 348,992 References Conversion 631, 112 Total costs to account for $ 643,060 MPANY-First Department eport - Weighted Aver For Month Ended May 31 Unit reconciliation: Units to account for: Total units to account for Units accounted for: Total units accounted for Equivalent units of production (EUP) - weighted average method Direct Materials Conversion Units % Complete EUP Complete EUP Equivalent Units of Production Cost per equivalent unit of production Direct Materials Conversion Total costs Cost Cost + Equivalent units of production EUP EUP Cost per equivalent unit of production (rounded to 2 decimals) Cost Assignment Completed and transferred out EUP Cost per EUP Total cost Direct materials Conversion Ending work in process EUP Cost per EUP Total cost Direct materials 0.00 Conversion 0.00 Total costs accounted for