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 Select Select Select Ending WIP fill in the blank 3e762602c070fd9 5 xfill in the blank 3e762602c070fd9 6 fill in the blank 3e762602c070fd9 7 fill in the blank 3e762602c070fd9 8 fill in the blank 3e762602c070fd9 9 xfill in the blank 3e762602c070fd9 10 fill in the blank 3e762602c070fd9 11 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 c973f8fdafdf01d 1 per equivalent unit Neighted Average Method, Equivalent Units, Unit Cost, Multiple Departments Fordman Company has a product that passes through two processes Grinding and Pollshing During December, the Grinding Department ransferred 20,000 units to the Polishing Department The cost of the units transferred into the second department was $40,000 Direct materiais 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 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 1 Assuming the use of the weighted averoge method, prepare a schedule of equivalent units Enter percentages as whole numbers 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 1 Assuming the use of the weighted average method, prepare a schedule of equivalent units Enter percentages as whole numbers 2 Compute the unit cost for the month If required, round your answer to the nearest cent 1 per equivalent unit

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Question: 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

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

- Select -

Ending WIP:

fill in the blank 3e762602c070fd9_5

xfill in the blank 3e762602c070fd9_6

% fill in the blank 3e762602c070fd9_7

fill in the blank 3e762602c070fd9_8

fill in the blank 3e762602c070fd9_9

xfill in the blank 3e762602c070fd9_10

% fill in the blank 3e762602c070fd9_11

- 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 c973f8fdafdf01d_1

per equivalent unit

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

has a product that passes through two processes: Grinding and Polishing. During

Neighted Average Method, Equivalent Units, Unit Cost, Multiple Departments Fordman Company has a product that passes through two processes: Grinding and Pollshing. During December, the Grinding Department ransferred 20,000 units to the Polishing Department. The cost of the units transferred into the second department was $40,000. Direct materiais 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: 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: 1. Assuming the use of the weighted averoge method, prepare a schedule of equivalent units. Enter percentages as whole numbers. 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: 1. Assuming the use of the weighted average method, prepare a schedule of equivalent units. Enter percentages as whole numbers. 2. Compute the unit cost for the month. If required, round your answer to the nearest cent. 1 per equivalent unit

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