Fields Company has two manufacturing departments, forming and painting. The company uses the weighted average method...
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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 29,000 75% 25% Units started this period 380,000 Completed and transferred out Ending work in process inventory 379,000 30,000 908 50% 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 $ 49,600 18,500 $ 68,100 1,468,840 1,013,780 2,482,620 $ 2,550,720 Exercise 20-7A (Algo) FIFO: Cost per EUP LO C2 Assume that Fields uses the FIFO method of process costing. a. Calculate the number of units started and completed this period for the Forming department.\ b. Calculate the equivalent units of production for both direct materials and conversion for the Forming department. c. Calculate the costs per equivalent unit of production for both direct materials and conversion for the Forming department. Complete this question by entering your answers in the tabs below. Required A Required B Required C Calculate the number of units started and completed this period for the Forming department. Units started and completed < Required A Required B > 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. Beginning work in process Started and completed Ending work in process Direct Materials Conversion Units Percent Added EUP Percent Added EUP < Required A Required C > 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. Note: Round your answers to 2 decimal places. Costs added this period + Equivalent units of production (from part b) Cost per equivalent unit of production Direct Materials < Required B EUP per EUP Required C Conversion EUP per EUP 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 29,000 75% 25% Units started this period 380,000 Completed and transferred out Ending work in process inventory 379,000 30,000 908 50% 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 $ 49,600 18,500 $ 68,100 1,468,840 1,013,780 2,482,620 $ 2,550,720 Exercise 20-7A (Algo) FIFO: Cost per EUP LO C2 Assume that Fields uses the FIFO method of process costing. a. Calculate the number of units started and completed this period for the Forming department.\ b. Calculate the equivalent units of production for both direct materials and conversion for the Forming department. c. Calculate the costs per equivalent unit of production for both direct materials and conversion for the Forming department. Complete this question by entering your answers in the tabs below. Required A Required B Required C Calculate the number of units started and completed this period for the Forming department. Units started and completed < Required A Required B > 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. Beginning work in process Started and completed Ending work in process Direct Materials Conversion Units Percent Added EUP Percent Added EUP < Required A Required C > 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. Note: Round your answers to 2 decimal places. Costs added this period + Equivalent units of production (from part b) Cost per equivalent unit of production Direct Materials < Required B EUP per EUP Required C Conversion EUP per EUP
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Related Book For
Fundamental Accounting Principles
ISBN: 978-0077862275
22nd edition
Authors: John Wild, Ken Shaw, Barbara Chiappetta
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