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5 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. 8 01:45:34 Direct Materials Percent Conversion Units Beginning work in process inventory 31,500 Complete 75% Percent Complete 25% Units started this period 430,000 Completed and transferred out 431,500 Ending work in process inventory 30,000 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 $ 52,600 20,500 $ 73,100 1,615,450 1,088,920 2,704,370 $ 2,777,470 a. Calculate the equivalent units of production for both direct materials and conversion for the Forming department. b. Calculate the costs per equivalent unit of production for both direct materials and conversion for the Forming department. 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. 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. Units Direct Materials Percent Complete Conversion EUP Percent Complete EUP Completed and transferred out Ending work in process Required A Required B >

5 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. 8 01:45:34 Direct Materials Percent Conversion Units Beginning work in process inventory 31,500 Complete 75% Percent Complete 25% Units started this period 430,000 Completed and transferred out 431,500 Ending work in process inventory 30,000 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 $ 52,600 20,500 $ 73,100 1,615,450 1,088,920 2,704,370 $ 2,777,470 a. Calculate the equivalent units of production for both direct materials and conversion for the Forming department. b. Calculate the costs per equivalent unit of production for both direct materials and conversion for the Forming department. 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. 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. Units Direct Materials Percent Complete Conversion EUP Percent Complete EUP Completed and transferred out Ending work in process Required A Required B >

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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5 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. 8 01:45:34 Direct Materials Percent Conversion Units Beginning work in process inventory 31,500 Complete 75% Percent Complete 25% Units started this period 430,000 Completed and transferred out 431,500 Ending work in process inventory 30,000 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 $ 52,600 20,500 $ 73,100 1,615,450 1,088,920 2,704,370 $ 2,777,470 a. Calculate the equivalent units of production for both direct materials and conversion for the Forming department. b. Calculate the costs per equivalent unit of production for both direct materials and conversion for the Forming department. 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. 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. Units Direct Materials Percent Complete Conversion EUP Percent Complete EUP Completed and transferred out Ending work in process Required A Required B >
Transcribed Image Text:5 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. 8 01:45:34 Direct Materials Percent Conversion Units Beginning work in process inventory 31,500 Complete 75% Percent Complete 25% Units started this period 430,000 Completed and transferred out 431,500 Ending work in process inventory 30,000 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 $ 52,600 20,500 $ 73,100 1,615,450 1,088,920 2,704,370 $ 2,777,470 a. Calculate the equivalent units of production for both direct materials and conversion for the Forming department. b. Calculate the costs per equivalent unit of production for both direct materials and conversion for the Forming department. 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. 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. Units Direct Materials Percent Complete Conversion EUP Percent Complete EUP Completed and transferred out Ending work in process Required A Required B >
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