Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Required information The following formation applies to the questions displayed below! Fields Company has two minutocturing departments, forming and painting The company uses the weighted

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Required information The following formation applies to the questions displayed below! Fields Company has two minutocturing departments, forming and painting The company uses the weighted average method of process costing. At the beginning of the month, the forming department has 30,000 units in inventory. 65% complete as to materials and 35% complete as to conversion costs. The beginning inventory cost of $61.000 consisted of $45,000 of direct materials costs and $16,000 of conversion costs During the month, the forming department started 300,000 units. At the end of the month, the forming department had 35.000 units in ending inventory, 90% complete as to materials and 20% complete as to conversion. Units completed in the forming department are transferred to the painting department Cost information for the forming department follows: Beginning work in process inventory Direct saterials added during the month Conversion added during the month $ 61,000 1,261,000 890,000 1. Calculate the equivalent units of production for the forming department 2. Calculate the costs per equivalent unit of production for the forming department 3. Using the weighted-average method, assign costs to the forming department's output--specifically, its units sansferred to paint and its ending work in process inventory Complete this question by entering your answers in the tabs below. PICY 20 of 22 18 Next > Search O BA a' ** (hp 3 4 5 6 7 8 9 R. C C T F G H J K. B N M Cost information for the forming department follows Deginning work in process inventory Direct materials added during the month Conversion added during the month 61,000 1,261,00 19, 1. Calculate the equivalent units of production for the forming department 2. Calculate the costs per equivalent unit of production for the forming department 3. 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 tubes below. Resuired 1 Required 2 Required 3 Calculate the equivalent units of production for the forming department. Direct Materials Conversion 1261.000 890,000 Required 2 > re to search OG ** . lp 3 s 6 7 8 9 0 E R o DF G J L v x B N M Cost information for the forming department follows. Beginning work in process inventory Direct materials added during the month Conversion added during the month $ 61,600 1,261,800 899,000 1. Calculate the equivalent units of production for the forming department 2. Calculate the costs per equivalent unit of production for the forming department 3. 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 1 Required 2 Required Calculate the costs per equivalent unit of production for the forrning department. (Round your answers to 2 decimal places Direct Materials Conversion per EUP Der EUP search * . hip 3 4 5 6 8 9 o E T Y O F G H B N M

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

Financial Accounting

Authors: David Perkins

4th Edition

111925700X, 978-1119257004

More Books

Students also viewed these Accounting questions