Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Fields Company has two manufacturing departments, forming and painting. The company uses the weighted method and it reports the following unit data for the

 

Fields Company has two manufacturing departments, forming and painting. The company uses the weighted method and it reports the following unit data for the Forming department. Units completed in the forming dep transferred to the painting department. Direct Materials Conversion Units Percent Complete Percent Complete Beginning work in process inventory 36,000 70% 30% Units started this period 520,000 Completed and transferred out 516,000 Ending work in process inventory 40,000 85% 35% 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 $ 58,000 24,100 $ 82,100 1,889,000 1,226,700 3,115,700 $ 3,197,800 a. Calculate the equivalent units of production for both direct materials and conversion for the Forming departme b. Calculate the costs per equivalent unit of production for both direct materials and conversion for the Forming c. Using the weighted average method, assign costs to the forming department's output-specifically, its units tra 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 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 Direct materials Conversion Total Completed and transferred out Ending work in process Direct materials Conversion Total costs accounted for EUP Cost per EUP Total cost EUP Cost per EUP Total cost $ 0.00 0.00 $ 0.00 0.00

Step by Step Solution

There are 3 Steps involved in it

Step: 1

c Using the weightedaverage method assign costs to the forming departments output We can use the following steps to assign costs to the forming depart... 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

Step: 3

blur-text-image

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

Fundamental Accounting Principles

Authors: John Wild, Ken Shaw, Barbara Chiappetta

22nd edition

9781259566905, 978-0-07-76328, 77862279, 1259566900, 0-07-763289-3, 978-0077862275

More Books

Students also viewed these Accounting questions

Question

7. When is logistic regression used?

Answered: 1 week ago

Question

6. Explain the basic concept involved in stepwise regression.

Answered: 1 week ago

Question

2. What is a dummy variable?

Answered: 1 week ago