Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

writ ences Required information. Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below.) Fields Company

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed

writ ences Required information. Use the following information for the Exercises below. (Algo) [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 Conversion Units Percent Complete Percent Complete Beginning work in process inventory 33,000 65% 35% Units started this period 460,000 Completed and transferred out 453,000 40,000 85% 45% Ending work in process inventory Production cost information for the forming department follows. Beginning work in process Direct materials Conversion Costs added this period. Direct materials Conversion Total costs to account for $ 54,400 21,700 $ 76,100 1,708,540 1,132,250 2,840,790 $2,916,890 Exercise 16-6 (Algo) Weighted average: Cost per EUP and costs assigned to output LO P1 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.

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_2

Step: 3

blur-text-image_3

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

Handbook Of Energy Audits

Authors: Albert Thumann, Terry Niehus, William J. Younger

7th Edition

1420067915, 978-1420067910

More Books

Students also viewed these Accounting questions

Question

1-8. What is meant by the economic environment?

Answered: 1 week ago

Question

4. Identify the supernatural aid in The Wizard of Oz.

Answered: 1 week ago