Question: Midway Metal, which uses the weighted average method, produces wire baskets in two departments, Bending and Painting. The Work in Process Inventory T-account for


Midway Metal, which uses the weighted average method, produces wire baskets in two departments, Bending and Painting. The Work in Process Inventory T-account for the Bending department is shown below. The 3,900 units in beginning work in process inventory had direct materials costs of $4,300 and conversion costs of $3,500. Also shown is unit data for the Bending department this period. Beginning work in process inventory Units started this period Completed and transferred out Ending work in process inventory Direct Materials Conversion Units 3,900 Percent Complete 100% Percent Complete 25% 7,900 8,900 2,900 100% 60% Work in Process Inventory-Bending ($) Debit Beginning balance Direct materials Direct labor Overhead Ending balance 7,800 18,120 4,900 23,520 Credit ? Transferred out a. Compute equivalent units of production for both direct materials and conversion. b. Compute cost per equivalent unit of production for both direct materials and conversion. c. Assign costs to the department's output-specifically, to the units transferred out and to the units in ending work in process inventory. Complete this question by entering your answers in the tabs below. Required A Required B Required C Compute cost per equivalent unit of production for both direct materials and conversion. Ending balance | a. Compute equivalent units of production for both direct materials and conversion. b. Compute cost per equivalent unit of production for both direct materials and conversion. c. Assign costs to the department's output-specifically, to the units transferred out and to the units in ending work in proce inventory. Complete this question by entering your answers in the tabs below. Required A Required B Required C Compute cost per equivalent unit of production for both direct materials and conversion. Note: Round "Cost per EUP" to 2 decimal places. Cost per equivalent unit of production: Weighted average Direct Materials Conversion Costs of beginning work in process Costs added this period Total costs + Equivalent units of production Cost per equivalent unit of production $ 69 18,120 25,920 11,800 10,640 < Required A Required C > a. Compute equivalent units of production for both direct materials and conversion. b. Compute cost per equivalent unit of production for both direct materials and conversion. c. Assign costs to the department's output-specifically, to the units transferred out and to the units in ending wor inventory. Complete this question by entering your answers in the tabs below. Required A Required B Required C Assign costs to the department's output-specifically, to the units transferred out and to the units in ending work in proces inventory. Note: Round "Cost per EUP" to 2 decimal places. Cost assignment-Weighted average EUP Cost per EUP Total cost Completed and transferred out Direct materials Conversion Ending work in process Direct materials Conversion Total costs accounted for < Required B Required C $ 0
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