Required information The following information applies to the questions displaye

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Required information The following information applies to the questions displayed below The 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 26,000 units in inventory, 75% complete as to materials and 25% complete as to conversion costs. The beginning inventory cost of $63,100 consisted of $46,600 of direct materials costs and $16,500 of conversion costs. During the month, the forming department started 327,000 units. At the end of the month, the forming department had 40,000 units in ending inventory, 80% complete as to materials and 30% complete as to conversion. Units completed in the forming department are transferred to the painting department. Cost information for the forming department is as follows: Beginning work in process inventory Direct materials added during the month Conversion added during the month $ 63,100 1, 333,400 939,000

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Cost of Prduction report (weighted avg method) ProductionDepartment Equivalent Units Flow Of Units Physical Units Direct material Conversion Cost Units to be accounted for Beginning work in process inventory 26000 Units started this period 327000 Total u nits to be accounted for    353000 Units accounnted for: Units transferred out (b) (353000-40000) 313000 313000 313000 Ending work in progress inventory c (80% material and 30% conversion) 40000 32000 12000 Total units to be accounted for (f)      353000 345000 325000 ans 1 Flow of Cost Cost in the begnning work in progress inventory 63100 46600 16500 cost added to process 2272400 $1,333,400 $939,000 Total Cost to be accounted for (e)     2335500 1380000 955500 Cost per equivalent unit (a)     4.00 2.94 ans 2 Cost accounted for Cost assigned to units transferred out (a*b) 2172220 1252000 920220 ans 3 Cost in ending work in progress inventory (a*c)     163280 128000 35280 ans 3 Total Cost accounted for    2335500 1380000 955500 Direct material Conversion Cost Total ans 1 345000 325000 ans 2 rate per unit 4.00 2.94 6.94 ans c Transferred 2172220 ending WIP 163280

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