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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 3,200 units in beginning work in process inventory had direct materials costs of $3,600 and conversion costs of $2,800. Also shown is unit data for the Bending department this period. Direct Materials Percent Complete 100% Conversion Percent Complete 20% Beginning work in process inventory Units started this period Completed and transferred out Ending work in process inventory Units 3,200 7,200 8,200 2,200 100% 70% Work in Process Inventory-Bending ($) Debit Credit Beginning balance 6,400 ? Transferred out Direct materials 12,520 Conversion 21,550 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. 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 Direct Materials Units Percent EUP Complete Conversion Percent EUP Complete Total 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 Direct Materials Conversion Total costs = Equivalent units of production Cost per equivalent unit of production 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 assignmentWeighted 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 Required B Required C
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