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FINANCIAL ACCOUNTING
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Can you please check my work bc it keeps showing that my answer is wrong
![[The following information applies to the questions displayed below.]
Fields Company has two manufacturing departments, forming and painting. The company uses the weighted-average
method of process costing. At the beginning of the month, the forming department has 31,500 units in inventory, 75%
complete as to materials and 25% complete as to conversion costs. The beginning inventory cost of $73,100 consisted of
$52,600 of direct materials costs and $20,500 of conversion costs.
During the month, the forming department started 430,000 units. At the end of the month, the forming department had
30,000 units in ending inventory, 85% complete as to materials and 35% complete as to conversion. Units completed in
the forming department are transferred to the painting department.
Cost information for the forming department follows.
Beginning work in process inventory
Direct materials added during the month
Conversion added during the month
73,100
1,615,450
1,088,920
Assume that Fields uses the FIFO method of process costing.
1. Calculate the equivalent units of production for the forming department.
2. Calculate the costs per equivalent unit of production for the forming department.](https://content.bartleby.com/qna-images/question/d04091bf-ef16-4edf-af68-771d2ae33333/5a231db0-9aad-45db-85b3-6e1c26a15d3b/86t6qgb_thumbnail.jpeg)
Transcribed Image Text:[The following information applies to the questions displayed below.]
Fields Company has two manufacturing departments, forming and painting. The company uses the weighted-average
method of process costing. At the beginning of the month, the forming department has 31,500 units in inventory, 75%
complete as to materials and 25% complete as to conversion costs. The beginning inventory cost of $73,100 consisted of
$52,600 of direct materials costs and $20,500 of conversion costs.
During the month, the forming department started 430,000 units. At the end of the month, the forming department had
30,000 units in ending inventory, 85% complete as to materials and 35% complete as to conversion. Units completed in
the forming department are transferred to the painting department.
Cost information for the forming department follows.
Beginning work in process inventory
Direct materials added during the month
Conversion added during the month
73,100
1,615,450
1,088,920
Assume that Fields uses the FIFO method of process costing.
1. Calculate the equivalent units of production for the forming department.
2. Calculate the costs per equivalent unit of production for the forming department.

Transcribed Image Text:Assume that Fields uses the FIFO method of process costing.
1. Calculate the equivalent units of production for the forming department.
2. Calculate the costs per equivalent unit of production for the forming department.
Complete this question by entering your answers in the tabs below.
Required 1
Required 2
Calculate the equivalent units of production for the forming department.
Direct Materials
455,050
Conversion
433,550
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- Hello i have attached two pictures. They are both used together to answer the question. The first picture is the information to use too answer the question. The second attachment is the for the answer. I hope it is understandable and whoever answer this can please explain how they got the answers. I need the help. I have marked a yellow x on what i have done already. I DO NOT NEED HELP WITH WHAT IS CROSSED IN YELLOW (PARTS 1-3) I NEED PARTS 4-6. THIS IS IS IS THE ANSWER TO PARTS 1-3 Analysis and Calculation: 1) Gold Medal Athletic Co., Sales Budget: For the month ended March: Product Sales Volume Sale Price per unit Sales, $ Batting helmet 1,200 units $40 $ 48,000 Football helmet 6,500 units $160 $1,040,000 Total revenue from sales $ 1,088,000 2) Production Budget: Batting Football Helmet Helmet Expected units to be sold 1,200 6,500 Add: desired Ending inventory 50 220 Total 1,250 6,720 Less: Beginning estimated inventory 40 240 Total…arrow_forwardPlease fill out the missing Colin and show the calaculations and formulaarrow_forwardPlease read the first picutre, and answer on the second picture. thanks for your timearrow_forward
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