For managerial accounting, how do you determine the equivalent units of production for direct materials and conversions?
What do direct materials and conversion mean in relation to manufacturing? What is the reason for the percentages of completion?
The questions above are clarifying questions for the screenshots of the questions included. Additionally, How do you calculate the equivalent units of production for the forming department? Calculate the costs per equivalent unit of production for the forming department? 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?
Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Calculate the equivalent units of production for the forming department. Direct Materials Conversion - Required 2 > Complete this question by entering your answers in the tabs below. Requiredl RequiredZ Required3 Calculate the costs per equivalent unit of production for the forming department. (Round your answers to 2 decimal places.) Direct Materials Conversion Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 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. Cost Assignment and Reconciliation Cost of units transferred out EUP Cost per EUP Total cost Direct materials Conversion Total costs transferred out Costs of ending work in process EUP Cost per EUP Total cost Direct materials $ 0.00 0.00 Conversion 0.00 0.00 Total cost of ending work in process Total costs assigned 0 Required information [The following information applies to the questions displayed below. ] Fields Company has two manufacturing departments, forming and painting. The company uses the weightedaverage method of process costing. At the beginning of the month, the forming department has 32,000 units in inventory, 80% complete as to materials and 20% complete as to conversion costs. The beginning inventory cost of $74,100 consisted of $53,200 of direct materials costs and $20,900 of conversion costs. During the month, the forming department started 440,000 units. At the end of the month, the forming department had 40,000 units in ending inventory, 90% complete as to materials and 40% complete as to conversion. Units completed in the forming department are transferred to the painting department. Cost information for the forming department follows. Beginning work in process inventory $ 74 , 100 Direct materials added during the month 1,650, 320 Conversion added during the month 1 , 099 , 1 00 1. Calculate the equivalent units of production for the forming department. 2. Calculate the costs per equivalent unit of production for the forming department. 3. Using the weightedaverage method, assign costs to the forming department's outputspecically, its units transferred to painting and its ending work in process inventory
