Help Save & Exit Su Check my wo 3 0 Required information Part 1 of 2 IThe follow
ID: 2528996 • Letter: H
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Help Save & Exit Su Check my wo 3 0 Required information Part 1 of 2 IThe following information appies to the questions displayed beiow 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 37,000 units in inventory, 80% complete as to materials and 20% complete as to conversion costs. The beginning inventory cost of $84,100 consisted of $59.200 of direct materials costs and $24,900 of conversion costs 10 points During the month, the forming department started 540.000 units At the end of the month, the forming department had 40,000 unitsin ending nventory 80% complete as to materials and 30% complete as to conversion Units tornpleted n the forming department are transferred to the painting department Cost information for the forming department is as follows: $ 84,188 Beginning work in process inventory Direct materials added during the month Conversion added during the month 1,949,37 1,254,27e 1. Calculate the equivalent units of production for the forming department. Direct Materials 2. Calculate the costs per equivalent unit of production for the forming department per EUP per EUPExplanation / Answer
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Forming department: Phy units D Material Conversion Total cost B WIP (on weighted avg. basis) 37000 37000 37000 Started and completed 500000 500000 500000 transf out 537000 C WIP 40000 32000 12000 Equivalent units 569000 549000 Total cost : B wip 59200 24900 84100 Incurred in month 1949370 1254270 3203640 Total cost to account for : 2008570 1279170 3287740 Cost per Eq unit 3.53 2.33 Cost of Transf. out 1895610 1251210 3146820 Cost of C WIP 112960 27960 140920 Total cost accounted for: 3287740Related Questions
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