The Foster Company has two manufacturing departments, forming and painting. The company uses the FIFO...
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The Foster Company has two manufacturing departments, forming and painting. The company uses the FIFO method of process costing. At the beginning of the month, the forming department has units in inventory, complete as to materials and complete as to conversion costs. The beginning inventory cost of$consisted of $of direct material costs and$of conversion cost. During the month, the forming department started units At the end of the month, the forming department had units in ending inventory, complete as to materialsandcomplete as to conversion. Units completed in the forming department are transferred to the painting department. Cost information for the forming department is as follows: Beginning work in process inventory $ Direct materials added during the month $ Conversion added during the month $ Assume that Foster uses the FIFO method of process costing. Complete the Forming Department cost report for: Calculating the equivalent units of production. Calculating the costs per equivalent unit of production. Round your answer to decimal places. Show the cost reconciliation.
The Foster Company has two manufacturing departments, forming and painting. The company uses the FIFO method of process costing. At the beginning of the month, the forming department has
units in inventory, complete as to materials and complete as to conversion costs.
The beginning inventory cost of$consisted of
$of direct material costs and$of conversion cost.
During the month, the forming department started units At the end of the month, the forming department had units in ending inventory, complete as to materialsandcomplete as to conversion.
Units completed in the forming department are transferred to the painting department.
Cost information for the forming department is as follows:
Beginning work in process inventory $
Direct materials added during the month $
Conversion added during the month $
Assume that Foster uses the FIFO method of process costing. Complete the Forming Department cost report for:
Calculating the equivalent units of production.
Calculating the costs per equivalent unit of production. Round your answer to decimal places.
Show the cost reconciliation.
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