Weighted Average Method, Equivalent Units, Unit Cost, Multiple Departments

Fordman Company has a product that passes through two processes: Grinding and Polishing. During December, the Grinding Department transferred 20,000 units to the Polishing Department. The cost of the units transferred into the second department was $40,000. Direct materials are added uniformly in the second process. Units are measured the same way in both departments.

The second department (Polishing) had the following physical flow schedule for December:

Units to account for:
Units, beginning work in process	4,000	(40% complete)
Units started	?
Total units to account for	?
Units accounted for:
Units, ending work in process	8,000	(50% complete)
Units completed	?
Units accounted for	?

Costs in beginning work in process for the Polishing Department were direct materials, $5,000; conversion costs, $6,000; and transferred in, $8,000. Costs added during the month: direct materials, $32,000; conversion costs, $48,000; and transferred in, $40,000.

Required:

Question Content Area

1. Assuming the use of the weighted average method, prepare a schedule of equivalent units. Enter percentages as whole numbers.

Fordman Company Schedule of Equivalent Units For the month of December

	Direct Materials	Conversion Costs	Transferred In
Total equivalent unitsUnits completed	- Select -	- Select -	- Select -
Ending WIP:
fill in the blank 43f67c01ffcaf8f_5 x fill in the blank 43f67c01ffcaf8f_6 %	fill in the blank 43f67c01ffcaf8f_7	fill in the blank 43f67c01ffcaf8f_8
fill in the blank 43f67c01ffcaf8f_9 x fill in the blank 43f67c01ffcaf8f_10 %			fill in the blank 43f67c01ffcaf8f_11
Total equivalent unitsUnits completed	- Select -	- Select -	- Select -

Question Content Area

2. Compute the unit cost for the month. If required, round your answer to the nearest cent. $fill in the blank 675d0305d076fe4_1 per equivalent unit