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Midway Metal, which uses the weighted average method, produces wire baskets in two departments, Bending and Painting. The Work in Process Inventory T-account for the
Midway Metal, which uses the weighted average method, produces wire baskets in two departments, Bending and Painting. The Work in Process Inventory T-account for the Bending department is shown below. The 2,900 units in beginning work in process inventory had direct materials costs of $3,300 and conversion costs of $2,500. Also shown is unit data for the Bending department this period. Direct Materials Conversion Percent Units Percent Complete Beginning work in process inventory Units started this period 2,900 100% Complete 20% 6,900 Completed and transferred out 7,900 Ending work in process inventory 1,900 100% 70% Work in Process Inventory-Bending ($) Debit Beginning balance Direct materials Direct labor Overhead Ending balance Credit 5,800 10,420 ? Transferred out 0 15,960 a. Compute equivalent units of production for both direct materials and conversion. b. Compute cost per equivalent unit of production for both direct materials and conversion. c. Assign costs to the department's output-specifically, to the units transferred out and to the units in ending work in process inventory. Complete this question by entering your answers in the tabs below. Required A Required B Required C Compute equivalent units of production for both direct materials and conversion. Equivalent units of production: Weighted average Units Direct Materials Percent Complete Conversion EUP Percent Complete EUP < Required A Required B > Midway Metal, which uses the weighted average method, produces wire baskets in two departments, Bending and Painting. The Work in Process Inventory T-account for the Bending department is shown below. The 2,900 units in beginning work in process inventory had direct materials costs of $3,300 and conversion costs of $2,500. Also shown is unit data for the Bending department this period. Direct Materials Beginning work in process inventory Units started this period Completed and transferred out Ending work in process inventory Conversion Units 2,900 Percent Complete 100% Percent Complete 20% 6,900 7,900 1,900 100% 70% Work in Process Inventory-Bending ($) Debit Credit 5,800 10,420 0 ? Transferred out 15,960 Beginning balance Direct materials Direct labor Overhead Ending balance a. Compute equivalent units of production for both direct materials and conversion. b. Compute cost per equivalent unit of production for both direct materials and conversion. c. Assign costs to the department's output-specifically, to the units transferred out and to the units in ending work in process inventory. Complete this question by entering your answers in the tabs below. Required A Required B Required C Compute cost per equivalent unit of production for both direct materials and conversion. (Round "Cost per EUP" to 2 decimal places.) Cost per equivalent unit of production: Weighted average Total costs - Equivalent units of production Cost per equivalent unit of production Direct Materials Conversion < Required A Required C > Midway Metal, which uses the weighted average method, produces wire baskets in two departments, Bending and Painting. The Work in Process Inventory T-account for the Bending department is shown below. The 2,900 units in beginning work in process inventory had direct materials costs of $3,300 and conversion costs of $2,500. Also shown is unit data for the Bending department this period. Direct Materials Beginning work in process inventory Units started this period Completed and transferred out Ending work in process inventory Units 2,900 Percent Complete 100% Conversion Percent Complete 20% 6,900 7,900 1,900 100% 70% Work in Process Inventory-Bending ($) Debit Beginning balance Direct materials Direct labor Overhead Ending balance Credit 5,800 ? Transferred out 10,420 0 15,960 a. Compute equivalent units of production for both direct materials and conversion. b. Compute cost per equivalent unit of production for both direct materials and conversion. c. Assign costs to the department's output-specifically, to the units transferred out and to the units in ending work in process inventory. Complete this question by entering your answers in the tabs below. Required A Required B Required C Assign costs to the department's output-specifically, to the units transferred out and to the units in ending work in process inventory. (Round "Cost per EUP" to 2 decimal places.) Cost assignment-Weighted average Completed and transferred out Direct materials Conversion Ending work in process Direct materials Conversion Total costs accounted for EUP Cost per EUP Total cost < Required B Required C >
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