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 >
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
help please answer in text form with proper workings and explanation for each and every part and steps with concept and introduction no AI no copy paste remember answer must be in proper format with all working
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education