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Need Help solving the 3 parts. Thank you. Fields Company has two manufacturing departments, forming and painting. The company uses the weighted average method and
Need Help solving the 3 parts. Thank you.
Fields Company has two manufacturing departments, forming and painting. The company uses the weighted average method and it reports the following unit data for the Forming department. Units completed in the forming department are transferred to the painting department Conversion Percent Complete 300 45+ Direct Materials Percent Units Beginning work in process inventory Complete 28,000 705 Units started this period 370,000 Completed and transferred out 358,000 Ending work in process inventory 40,000 850 Production cost information for the forming department follows. Deginning work in process Direct materials $ 49,000 Conversion 18,100 $ 67,100 Costs added this period Direct materials 1,440,600 Conversion 992.100 2,437, 700 Total costs to account for $ 2,504,800 a. Calculate the equivalent units of production for both direct materials and conversion for the Forming department b. Calculate the costs per equivalent unit of production for both direct materials and conversion for the Forming department. c. 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 A Required B Required Calculate the equivalent units of production for both direct materials and conversion for the forming department Units Direct Materials Percent Complete EUP Conversion Percent EP Complete Completed and transferred out Ending work in process Required B > Complete this question by entering your answers in the tabs below. Required A Required B Required Calculate the costs per equivalent unit of production for both direct materials and conversion for the forming department Direct Materials Conversion Costs of beginning work in process Costs added this period Total costs Equivalent units of production (from part a) EUP Cost per equivalent unit of production per EUP EUP per EUP Complete this question by entering your answers in the tabs below. Required A Required B Required 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 Completed and transferred out EUP Cost per EUP Total cost Direct materials Conversion Total Completed and transferred out Ending work in process EUP Cost per EUP Total cost Direct materials $ 0.00 0.00 Conversion $ 0.00 0.00 Total costs accounted for Step by Step Solution
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