Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The Felds Company has two manufacturing departments, forming and painting. The company uses the weighted average method of process costing. At the beginning of the
The Felds 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 27,000 units in inventory. 65% complete as to materials and 35% complete as to conversion costs. The beginning inventory cost of $66,100 consisted of $48,400 of direct materials costs and $17700 of conversion costs During the month the forming department started 360.000 units. At the end of the month, the forming department had 35,000 units in ending Inventory, 80% 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 is as follows: 1.410,000 naturala added during the oth Conversion added during the month Calculate the equivalent units of production for the forming department Di Mata Conversion Calculate the costs per equivalent unit of production for the forming department Direct Materials Conversion per EUP per EUP Using the weighted average method, assign costs to the forming department's output specifically, its units transferred to painting and ts ording work in process inventory Cost Assignment and Reconciliation Cost of us wansferred out Directors EUP Cost per EUP Total cost E UP Cost per EUP Total cost Conversion Total cost red out Costs of ording work in pro Director Conversion cost of ording work in P S 0.00 0.00 Assume that Fields uses the FIFO method of process costing 1. Calculate the equivalent units of production for the forming department Di Materials Conversion 2. Calculate the costs per equivalent unit of production for the forming department (Round your answers to 2 decimal places.) Direct Materials Conversion per EUP per EUP
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started