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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
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 and it reports the following unit data for the Forming department. Units completed in the forming department are transferred to the painting department. Direct Materials Percent Complete Conversion Percent Complete 35% Units 30,000 Beginning work process inventory 65% Units started this period 300,000 Completed and transferred out 295,000 Ending work in process inventory 35,000 90% 20% Production cost information for the forming department follows. Beginning work in process Direct materials $ 45,000 Conversion 16,000 $ 61,000 Costs added this period Direct materials 1,261,000 890,000 Conversion 2,151,000 Total costs to account for $ 2,212,000 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. Conversion 890,000 2,151,000 $ 2,212,000 Total costs to account for 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 C Calculate the equivalent units of production for both direct materials and conversion for the forming department. Direct Materials Conversion Units Percent Complete Percent Complete EUP Completed and transferred out Ending work in process 295,000 35,000 Total costs to account for $ 2,212,000 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 C 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 $ 16,000 Costs added this period 890,000 906,000 Total costs + Equivalent units of production (from part a) Cost per equivalent unit of production Required C > $ 45,000 1,261,000 $ 1,306,000 295,000 295,000 EUP
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