ease refer to the pictures for parts A and B. Part C is below: Cost Assignment Completed and transferred out EUP Cost per EUP Total cost Direct materials Conversion Total Completed and transferred out Ending work in process EUP Cost per EUP Total cost Direct materials $0.00 0.00 Conversion $0.00 0.00 Total costs accounted for
ease refer to the pictures for parts A and B. Part C is below: Cost Assignment Completed and transferred out EUP Cost per EUP Total cost Direct materials Conversion Total Completed and transferred out Ending work in process EUP Cost per EUP Total cost Direct materials $0.00 0.00 Conversion $0.00 0.00 Total costs accounted for
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Please refer to the pictures for parts A and B. Part C is below:
|
- Fields Company
Transcribed Image Text:Complete this question by entering your answers in the tabs below.
Required A Required B Required C
Calculate the costs per equivalent unit of production for both direct materials and conversion for the forming department.
Direct Materials
Costs of beginning work in process
Costs added this period
Total costs
+ Equivalent units of production (from part a)
Cost per equivalent unit of production
< Required A
EUP
per EUP
Conversion
Required C >
EUP
per EUP
![[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 and it reports the following unit data for the Forming department. Units completed in the forming department are
transferred to the painting department.
Beginning work in process inventory
Units started this period
Completed and transferred out.
Ending work in process inventory
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
Units
33,000
460,000
453,000
40,000
Required A Required B Required C
$ 54,400
21,700
Completed and transferred out
Ending work in process
1,708,540
1,132,250
Units
Direct
Materials
Percent
Complete
65%
Complete this question by entering your answers in the tabs below.
85%
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.
Percent
Complete
$ 76,100
2,840,790
$ 2,916,890
EUP
Calculate the equivalent units of production for both direct materials and conversion for the forming department.
Direct Materials
Conversion
Percent
Complete
35%
45%
Percent
Complete
Conversion
EUP](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F6f96dd47-ce3e-4fb6-9f29-e38e62f29b56%2F4c975d0b-afec-42cd-9dc9-7a63fee4f574%2Fk5hpgrq_processed.png&w=3840&q=75)
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 and it reports the following unit data for the Forming department. Units completed in the forming department are
transferred to the painting department.
Beginning work in process inventory
Units started this period
Completed and transferred out.
Ending work in process inventory
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
Units
33,000
460,000
453,000
40,000
Required A Required B Required C
$ 54,400
21,700
Completed and transferred out
Ending work in process
1,708,540
1,132,250
Units
Direct
Materials
Percent
Complete
65%
Complete this question by entering your answers in the tabs below.
85%
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.
Percent
Complete
$ 76,100
2,840,790
$ 2,916,890
EUP
Calculate the equivalent units of production for both direct materials and conversion for the forming department.
Direct Materials
Conversion
Percent
Complete
35%
45%
Percent
Complete
Conversion
EUP
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