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Use the following information for the Exercises below. Skip to question [The following information applies to the questions displayed below.] Fields Company has two manufacturing

Use the following information for the Exercises below.

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[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 31,000 units in inventory, 70% complete as to materials and 30% complete as to conversion costs. The beginning inventory cost of $72,100 consisted of $52,000 of direct materials costs and $20,100 of conversion costs. During the month, the forming department started 420,000 units. At the end of the month, the forming department had 40,000 units in ending inventory, 80% complete as to materials and 30% 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 $ 72,100
Direct materials added during the month 1,631,400
Conversion added during the month 1,079,700

Exercise 16-6 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 departments outputspecifically, its units transferred to painting and its ending work in process inventory. image text in transcribed image text in transcribedimage text in transcribed

Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Calculate the equivalent units of production for the forming department. Direct Materials Conversion Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Calculate the costs per equivalent unit of production for the forming department. (Round your answers to 2 decimal Direct Materials Conversion per EUP per EUP Required 1 Required 2 Required 3 EUP Using the weighted-average method, assign costs to the forming department's output-specifically, its units transfer painting and its ending work in process inventory. Cost Assignment and Reconciliation Cost of units transferred out Cost per EUP Total cost Direct materials Conversion Total costs transferred out Costs of ending work in process Cost per EUP Direct materials Conversion Total cost of ending work in process Total costs assigned EUP Total cost $ 0.00 0.00 0.00 0.00

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