Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please answer ASAP Irr/takeAssignment/takeAssignmentMain.do?invoker-assignments&takeAssignmentSession Locator assignment-take&inprogress=false eBook Calculator Print Item Weighted Average Method, Equivalent Units, Unit Cost, Multiple Departments Fordman Company has a product that

please answer ASAP image text in transcribed
image text in transcribed
Irr/takeAssignment/takeAssignmentMain.do?invoker-assignments&takeAssignmentSession Locator assignment-take&inprogress=false eBook Calculator Print Item Weighted Average Method, Equivalent Units, Unit Cost, Multiple Departments Fordman Company has a product that passes through two processes: Grinding and Polishing. During December, the Grinding Department transferred 20,000 units to the Polishing Department. The cost of the units transferred into the second department was $40,000. Direct materials are added uniformly in the second process Units are measured the same way in both departments. The second department (Polishing) had the following physical flow schedule for December: Units to account for: 4,000 (40% complete) Units, beginning work in process Units started Total units to account for Units accounted for: Units, ending work in process 8,000 (50% complete) Units completed Units accounted for Costs in beginning work in process for the Polishing Department were direct materials, $5,000; conversion costs, $6.000; and transferred in, $9,000. Costs added during the month: direct materials, $32,000, conversion costs, $48,000, and transferred in, 539,000. Required: 1. Assuming the use of the weighted average method, prepare a schedule of equivalent units. Enter percentages as whole numbers Fordman Company Schedule of Equivalent Units For the month of December Direct Materials Conversion Costs Transferred in Previous Check My Work 3 more Check My Work uses remaining Email truktor Submit Alignment for Grading V2I UN he teach X omilrn/takeAssignment/take AssignmentMain.do?invokerwassignments&takeAssignmentSessionLocator assignment-take&inprogress=false Calculator eBook Units started Printem Total units to account for 2 Units accounted for: Units, ending work in process Units completed 8,000 (50% complete) 2 Units accounted for 2 Costs in beginning work in process for the Polishing Department were direct materials, $5,000; conversion costs, $6,000; and transferred in, $9,000. Costs added during the month: direct materials, $32,000; conversion costs, $48,000, and transferred in, $39,000 Required: 1. Assuming the use of the weighted average method, prepare a schedule of equivalent units, Enter percentages as whole numbers. Fordman Company Schedule of Equivalent Units For the month of December Direct Materials Conversion Costs Transferred In Ending WIP: X 90 X 90 2. Compute the unit cost for the month. If required, round your answer to the nearest cent. per equivalent unit

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

International Corporate Reporting Global And Diverse

Authors: Pauline Weetman, Ioannis Tsalavoutas, Paul Gordon

5th Edition

1138364991, 9781138364998

More Books

Students also viewed these Accounting questions

Question

=+analysis, and social media communication audit

Answered: 1 week ago