Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Required information [The following information applies to the questions displayed below.) Fields Company has two manufacturing 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 information applies to the questions displayed below.) Fields Company has two manufacturing departments, forming and painting. The company uses the weighted- average method of process costing. At the beginning of the month, the forming department has 35,000 units in inventory, 60% complete as to materials and 40% complete as to conversion costs. The beginning inventory cost of $80,100 consisted of $56,800 of direct materials costs and $23,300 of conversion costs. During the month, the forming department started 500,000 units. At the end of the month, the forming department had 40,000 units in ending inventory, 90% complete as to materials and 40% complete os 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 materials added during the month Conversion added during the month $ 80, 100 1.828.250 1,192,880 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 an: Required 1 Required 2 Required 3 Calculate the equivalent units of production for th Direct Materials Conversion Regel 1. Calculate quivuuteen 2. Calculate the costs per equivalent unit of production 3. Using the weighted average method, assign costs to painting and its ending work in process inventory. Complete this question by entering your answers i Required 1 Fequired 2 Required 3 Calculate the costs per equivalent unit of production for th Direct Materials Conversion per EUP per EUP

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

Sound Investing, Chapter 10 - One-Time Charges And Other Format Fakes

Authors: Kate Mooney

2nd Edition

0071719326, 9780071719322

More Books

Students also viewed these Accounting questions

Question

surety bpnds involve how many parties?

Answered: 1 week ago

Question

8. How are they different from you? (specifically)

Answered: 1 week ago