80.2K

Verified Solution

Link Copied!

Fields Company has two manufacturing departments, forming and painting. The company uses the weighted average 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.

Production cost information for the forming department follows.

Beginning work in process

Direct materials

Conversion

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 E

Required C

Calculate the costs per equivalent unit of production for both direct materials and conversion for the forming department. Production cost Information for the forming department follows.

a$.$ Calculate the equivalent units of production for both direct materlals 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

palnting and its ending work in process inventory.

Complete this question by entering your answers in the tabs below.

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. Oslo Company produces large quantities of a standardized product. The following information is available for the first production

department for May. Prepare a production cost report for this process using the weighted average method.

Note: Round "Cost per EUP" to $2$ decimal places.$\backslash$table$[[$Equivalent Units of Production,,,,,$],[$Cost per equivalent unit of production,,,Direct Materials,,Conversion$],[,,,,,],[,,,,,],[$Total costs,,Costs,,Costs,$],[$:$\text{'}$ Equivalent units of production,,EUP,,EUP,$],[$Cost per equivalent unit of production $($roL$,,,,,],[$Cost Assignment,,,,,$],[$Completed and transferred out,EUP,Cost per EUP,Total cost,,$],[$Direct materials,,,,,$],[$Conversion$,,,,,],[$Ending work in process,EUP,Cost per EUP,Total cost,,$],[$Direct materials,,,,,$],[$Conversion$,,,,,],[$Total costs accounted for,,,,,$]]$

method and it reports the following unit data for the Forming department. Units completed in the forming department are

transferred to the painting department.

Production cost information for the forming department follows.

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

Calculate the equivalent units of production for both direct materials and conversion for the forming department.

Show all imagesShow all images

Answer & Explanation Solved by verified expert

See Answer