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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
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 2,500 units in beginning work in process inventory had direct materials costs of $2,900 and conversion costs of $2,100. Also shown is unit data for the Bending department this period. Units Direct Materials Percent Complete Conversion Beginning work in process inventory 2,500 100% Percent Complete 258 Units started this period 6,500 Completed and transferred out 7,500 Ending work in process inventory 1,500 100% 60% Work in Process Inventory-Bending (5) 5,000 7.900 Credit ? Transferred out Debit Beginning balance Direct materials Direct labor Overheadi Ending balance 3,500 12,460 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 Conversion Percent Camalata Percent EUP Camalate EUP 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 Conversion EUP Percent Complete EUP Percent Complete Required A Required B > 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. Note: Round "Cost per EUP" to 2 decimal places. Cost per equivalent unit of production: Weighted average Total costs Direct Materials Conversion +Equivalent units of production Cost per equivalent unit of production < Required A Required C > nces Required A Required B Requted C Assign costs to the department's output-specifically, to the units transferred out and to the units in ending work in p inventory. Note: Round "Cost per EUP" to 2 decimal places. Cost assignment-Weighted average EUP Cost per EUP Total cost Completed and transferred out Direct materials Conversion Ending work in process Direct materials Conversion Total costs accounted for
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