50.1K

Verified Solution

Link Copied!

Please complete all tables.

Required Information [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 Percent Complete Conversion Percent Units Complete 40% 28,000 60% Beginning work in process inventory Units started this period 350,000 Completed and transferred out 343,000 Ending work in process inventory 35,000 80% 40% Production cost Information for the forming department follows. Beginning work in process Direct materials $ 47,800 17,300 Conversion $ 65,100 Costs added this period Direct materials 1,380,550 971,590 Conversion 2,352,140 Total costs to account for $ 2,417,240 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 Required B Required C Calculate the equivalent units of production for both direct materials and conversion for the forming department. Direct Materials Conversion Units Percent Complete Percent Complete EUP Completed and transferred out Ending work in process Complete this question by entering your answers in the tabs below. Required A Required B Required C Calculate the costs per equivalent unit of production for both direct materials and conversion for the forming department. Direct Materials Conversion Costs of beginning work in process Costs added this period Total costs + Equivalent units of production (from part a) EUP EUP Cost per equivalent unit of production per EUP per EUP Required A Required B Required 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. Cost Assignment Completed and transferred out EUP Cost per EUP Total cost Direct materials Conversion Total Completed and transferred out Ending work in process EUP Cost per EUP Total cost Direct materials Conversion Total costs accounted for

Answer & Explanation Solved by verified expert

See Answer