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. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Calculate the costs per equivalent unit of production for the forming department. (Round your answers to 2 decimal places.) Direct Materials 2$ 6.16 per EUP Conversion 2$ 2.51 per EUP

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. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Calculate the costs per equivalent unit of production for the forming department. (Round your answers to 2 decimal places.) Direct Materials 2$ 6.16 per EUP Conversion 2$ 2.51 per EUP

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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