Required information Use the following information for the Exercises below. 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 32000 units in Inventory. 65% complete as to materials and 35% complete as to conversion costs. The beginning inventory cost of $71300 consisted of $51.400 of direct materials costs and $19.700 of conversion costs During the month, the forming department started 410.000 units. At the end of the month, the forming department had 30,000 units in ending inventory, 90% complete as to materials and 40% 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 materials added during the month Conversion added during the month $71,160 1,564,120 1,061,500 Exercise 20-6 Weighted average: Cost per EUP and costs assigned to output LO C2 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 equivalent units of production for the forming department. Direct Materials Conversion Exercise 20-6 weighted average: Cost per EUP and costs assigned to output LO C2 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 forming department (Round your answers to 2 decimal places) Dect Materials Conversion per EUP per EUP Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Using the welghted average method, assion costs to the forming department's output-specifically, its units transferred to painting and its ending work in process inventory Total cost EUP Cost per EUP 412,000 5 368 412.000 $ 2.55 Cost Assignment and Reconciliation Cost of units transferred out Direct materials Conversion Total costs transferred out Costs of ending work in process Direct materials Conversion Total cost of ending work in process Total costs assigned EUP Cost per EUP $ 3.68 $ 255 Total cost 0.00 0.00 Red (Required 2
