Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Chapter 20 Problems & Exercises i Saved Help Save & Exit Submit Check my work Part 1 of 2 Required information Use the following information
Chapter 20 Problems & Exercises i Saved Help Save & Exit Submit Check my work Part 1 of 2 Required information Use the following information for the Exercises below. {The following information applies to the questions displayed below.) 10 paints The Fields Company has two manufacturing departments, forming and painting. The company uses the weighted- average method of process costing. At the beginning of the month, the forming department has 33,500 units in inventory, 70% complete as to materials and 30% complete as to conversion costs. The beginning inventory cost of $77,100 consisted of $55,000 of direct materials costs and $22,100 of conversion costs. eBook Hint ng the month, the forming department started 470,000 units. At the end of the month, the forming department had 35,000 units in ending Inventory, 90% complete as to materials and 50% complete as to conversion. Units completed in the forming department are transferred to the painting department. Print References Cost information for the forming department is as follows: Beginning work in process inventory Direct materials added during the month Conversion added during the month $ 77,100 1,745,000 1,154,020 Exercise 20-6 Weighted average: Cost per EUP and costs assigned to output LO C2 Check my work Calculate the equivalent units of production for the forming department. Part 1 of 2 Direct Materials Conversion 468,500 468,500 points eBook Hint Print Calculate the costs per equivalent unit of production for the forming department. References Direct Materials Conversion per EUP per EUP Part 1 of 2 Using the weighted average method, assign costs to the forming department's output-specifically, its units transferred to painting and its ending work in process inventory. 10 points Cost Assignment and Reconciliation Cost of units transferred out EUP Cost per EUP Total cost eBook Direct materials Conversion Hint Print EUP References Total costs transferred out Costs of ending work in process Direct materials Conversion Total cost of ending work in process Total costs assigned Cost per EUP $ 0.00 $ 0.00 Total cost 0.00 0.00
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started